Governor Malam Dikko Umaru Radda of Katsina State has given the green light to a substantial N3.4 billion State Micro, Small, and Medium Enterprises (MSME) Fund.
This fund is designed to bolster existing businesses and startups swith growth potential, providing them with the necessary financial support to enhance their working capital and ensure sustainability.
In collaboration with key stakeholders such as SMEDAN and BOI, the state government is striving to cultivate a resilient and thriving MSME sector within Katsina State.
Ibrahim Kaula Mohammed, the Chief Press Secretary, officially announced this initiative following the recent 14th Executive Council meeting.
This move reflects the government's deep understanding of the vital role played by MSMEs in driving economic growth and development.
The N3.4 billion revolving MSME fund will be sourced jointly by the State Government and the 34 Local Government Councils. While the state government will contribute 30% of the counterpart funding, the remaining 70% will be contributed by the LGAs.
This collaborative effort underscores Governor Radda's dedication to fostering entrepreneurship, job creation, and sustainable economic development across Katsina State.
