The Managing Director of the Edo State Skills Development Agency, Mrs. Violet Obiokoro, has highlighted the positive impact of loans disbursed by the Edo State government and the Bank of Industry in promoting the growth of businesses operated by individuals living with disabilities in the state.
Obiokoro revealed that the ‘N2bn Edo State MSME Funds’, currently managed by EdoJobs in collaboration with the Bank of Industry and Trustfund Microfinance Bank, aims to provide financial and business support services to qualified entrepreneurs involved in Micro, Small, and Medium Enterprise (MSME) businesses across all 18 local government areas of Edo State.
Notably, a significant portion of these funds has been reserved specifically for individuals living with disabilities. Since the disbursement of funds began in February 2022, an impressive N28.8 million has already been successfully distributed among beneficiaries across the state’s three senatorial districts, with a total of 105 beneficiaries comprising 52 males and 53 females.
The beneficiaries of these funds represent a diverse range of sectors, including shoe-making, petty trading, and the distribution of locally made goods. Many micro-businesses in popular markets such as Oba Market, New Benin Market, Ekiosa Market, and Sabo Market have also benefited from this financial support.
With a vision to ensure that over 5,000 MSMEs in Edo State gain access to funds for business growth and expansion, the project aims to prioritize gender equality, representation from all local government areas, and support for individuals with disabilities.
Mrs. Obiokoro further revealed that out of the total funds disbursed thus far, N480 million, including bank charges, has been allocated to 1,631 beneficiaries in the micro-credit segment scheme.
This demonstrates the commitment of Edo State to foster an inclusive and supportive environment for entrepreneurs, especially those often marginalized or facing challenges due to disabilities.
The financial support provided to entrepreneurs with disabilities is not only boosting business expansion but also empowering these individuals to thrive and contribute to the economic development of Edo State.
