Katsina unveils N5 billion SME Growth Fund, Dikko BDS Corps

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The Government of Katsina State has reaffirms commitment to the growth and development of Micro, Small, and Medium Enterprises (MSMEs) in Katsina State, while unveiling .N5 Billion Katsina State SME Growth Fund and the Dikko BDS Corp.

This was disclosed by the Governor of Katsina State,  Malam Dikko Umaru Radda PhD CON while marking the celebration of the 2024 International MSME Day.

The Chief Press Secretary to the Governor, Ibrahim Kaula Mohammad, in a press statement, Wednesday reads:

“The 2024 International MSME Day theme, “MSMEs and the SDGs: Leveraging the Power and Resilience of Micro-, Small and Medium-sized Enterprises (MSMEs) to Accelerate Sustainable Development and Eradicate Poverty in Times of Multiple Crises,” resonates strongly with Governor Malam Dikko Umaru Radda’s vision for MSME growth and local economic development in Katsina State.

These programs aim to revolutionize the MSME landscape in Katsina State by providing crucial financial resources and comprehensive business development services. The SME Growth Fund, a collaboration with the Bank of Industry, will offer N5 billion in managed and matching funds to support SME expansion and innovation.”

Meanwhile, the Dikko BDS Corp will deploy 136 trained volunteers across the 34 LGAs to provide on-the-spot advisory services to local enterprises. These initiatives, complemented by plans for an MSME census, cluster mapping, and the revitalization of the Katsina Youth Craft Village, underscore Governor Radda’s commitment to fostering a robust entrepreneurial ecosystem and driving sustainable economic growth in Katsina State.

Since taking office, Governor Radda has demonstrated an exceptional dedication to transforming the MSMEs in Katsina State.

The establishment of the Katsina State Enterprise Development Agency (KASEDA) and a N2 billion contribution to the NG Cares Program have already benefited over 6,100 individuals with N300 million in cash grants. Additionally, the recapitalization of the Microfinance Bank with N800 million and the procurement of N230 million worth of IT equipment have significantly strengthened the state’s financial infrastructure.

In a bold move to empower the youth and drive economic diversification, Governor Radda launched the Mechatronics the Apprenticeship Support Program (MASP) with a substantial N3.4 billion investments. This innovative program aims to equip 3,000 young people with vital skills, fostering entrepreneurship and innovation in the state.

These initiatives point to Governor Radda’s commitment to his *“Building Your Future Strategic Policy”* plan, which aims to provide a new lease of life for the people of Katsina State.

“Our achievements in the MSME sector are just the beginning,” stated Governor Radda. “We are committed to doing even more. Our goal is to create an enabling environment where every entrepreneur in Katsina State can thrive and contribute to our economic growth.”

The MASP initiative, in particular, showcases the Governor’s innovative approach to youth empowerment and economic diversification. This six-month program, with its initial budget of N58 million, is set to transform the state’s economy by fostering innovation and practical skills’ development.

“As we celebrate International MSME Day, we renew our pledge to support and nurture our small businesses. They are the backbone of our economy and the key to our future prosperity,” he stressed.

Governor Radda calls on all stakeholders — government agencies, private sector entities, and civil society organizations — to join hands in supporting these initiatives. With our joint efforts, we can build a brighter, more prosperous future for Katsina State.

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