The federal government has announced that it will soon commence the implementation of the $10 billion global investment fund to boost growth and development for Micro Small and Medium Enterprises in the country.
The Minister of Industry, Trade and Investment, Doris Uzoka Anite, made the disclosure in Abuja on Thursday at the 2024 National MSME conference with the theme ‘GROW Nigeria: Sustaining a digital and Innovative Driven Economy’.
The minister said, “As part of efforts to drive growth and development of MSMEs, we are launching a $10 billion global investment fund, which is an equity funding that will stimulate innovation and fund capital.
“Beyond policy and regulation, this administration has also sought to address one of the most cardinal challenges faced by most MSMEs; access to finance, which is why we set aside the N200 billion Presidential Loans and Grant Scheme.
“At the heart of a thriving economy lies infrastructure both physical and digital. The expansion of high-speed internet, 5G networks, and the adoption of cloud technologies will enable businesses, particularly small and medium enterprises, to participate fully in the global digital marketplace.”
