Development Bank of Nigeria(DBN) is committed to the empowerment and capacity building of the MSMEs for sustainable growth and development of the economy.
Consequently, the bank is also committed to addressing various challenges confronting Micro, Small and Medium Enterprises (MSMEs) that are regarded as engine growth of development.
Tony Okpanachi, Managing Director of DBN, made the statement while speaking at a stakeholders conference organised by SDF, Kano Concerned Citizens in collaboration with the bank on Thursday in Kano.
According to Okpanachi, the empowerment and enhancement of these critical resources in the chain of development would address challenges confronting small and medium entrepreneurs in Northern Nigeria in particular and the country as a whole.
“For a commercial center like Kano, it’s important to build ecosystems that will keep sustaining all businesses and families that depend on it. “It is about the youthful population and what we can do is to keep them engaged, that’s why the theme ”Rise of commercial activities from our youths fits perfectly with what we stand for at DBN, ” he explained.
The DBN chief executive explained that the bank hosted its second annual MSMEs summit in Kano in collaboration with the State Government so as to further cement their key value proposition within the North.
According to him, they are back in Kano and hold the power to shape destinies, to alter trajectories, and to create brighter future for the young people of Kano and Jigawa states and the North as a whole. “Our mission is not merely financial, but deeply rooted in the belief that sustainable development is the cornerstone of a prosperous society.
“Through the conversations today, we will reaffirm our commitment to catalyze change, to ignite hope, and to bridge the financial divide that has held back the potential of this region for far too long. “We know that collaborations with laudable organisations such as SDF and Kano Concerned Citizens initiative will continue to nurture sustainable enterprises, bolster community development, and facilitate knowledge transfer that enables the growth of enterprises within the northern region,” he said.
Chairman of Kano Concerned Citizens initiative, Alhaji Shehu Dankadai, called for a town hall meeting at all levels so that people would key in and take advantage to get loans easily. Dankadai called for an enlightenment of MSMEs in Kano and Jigawa states to enable them bridge the divide that held them for long.
He said that the issue of interest loans was prohibited in Islam, while commending DBN for coming up with interest free loans through Islamic financial institutions.
Also speaking, the Director-General of Dangote Business School, Prof. Murtala Sagagi, said that MSMEs remained critical enablers of national socio-economic growth.
He also called for closure of identified financing gaps hindering MSMEs in North. Sagagi also called for massive capacity building and funding of MSMEs. He urged DBN to interface and collaborate with state government, entrepreneurship development centers, business organisations, high institutions among others to build the capacity of MSMEs in Kano and Jigawa states.(NAN)