Gov Ahmed commissions first cooperative MFB in Ilorin
Governor Abdulfatah Ahmed of Kwara State has commissioned the first cooperative financial institution, KWACOFOCUS Micro Finance Bank (MFB) in Ilorin to provide more access to credit for farmers and small business owners in the state.
Ahmed, while speaking at the occasion, said his government had ensured inclusive financial system to grow and expand businesses in the state.
He said the financial assistance was providing existing businesses with access to capital at single digit interest rate.
He pointed out that in spite of relevance of funding to business, his government holds the agricultural sector in high esteem owing to the potential of the sector to create employment and generate revenue through investment opportunities in the agricultural value chain.
The governor urged members of the public, especially the youth to take advantage of the services of the bank and access funding to grow their businesses.
In her address, chairman, Board of Directors of the bank, Hajia Zururat Romoke Zubair, said the financial institution was set up to complement the effort of the government in the areas of agric development and sustainable empowerment for rural farmers, financial inclusion for rural women and youths, support for the growth and development of small scale businesses and easy accessibility to finance.
She said 80 per cent of the bank’s credit had been earmarked for agricultural cooperative societies and urged farmers and small scale business owners to partner with it.