The Nigerian Export Import Bank has started
the implementation of a loan scheme for women in the export business. The bank
said it was targeting disbursement of N3bn loans to women in export business
before the end of 2019.
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defrauded of huge amount of money in the process of exporting agricultural
commodities and solid minerals to foreign countries. Do you know why? They were
not trained on export operations, management, documentations and the best
methods of payment in export trade. This is terrible!!! Nigerians cannot
continue to lose money to foreigners in the course of export business.
Exporters, would you like to keep on being scammed? Why don’t you get a practical
manual that explains the stages of export trade from processing and packaging
of commodities to receipt of payment by the foreign buyers? It explains export
operations, export management, export documentations and methods of payment in
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This development was made known to Tectono Business Review by a representative
of NEXIM Bank, Kelechi Nwabuozo, during
an interview after a forum for women entrepreneurs.
“Our new product, the Women
and Youth Export facility, has been created to assist women across the export
value chain. The facility is aimed at supporting women financially, providing
concessionary fund for them to enable them carry out exports,” she said.
According to her, over the last one
year, the bank had approved over N34bn to export-oriented enterprises out of
which over N25bn had been disbursed.
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“We intend to surpass this
figure before the year runs out. We are targeting disbursement of over or close
to N3bn to women-owned export businesses before the year runs out,” Nwabuozo added.
The Central Bank of Nigeria in 2017
announced a N500bn Export Stimulation Facility and N50bn Export Development
Fund to be managed by NEXIM Bank. The facilities are obtained at a single-digit
interest rate of nine per cent.
The bank disclosed that the funds were
designed to redress the declining export credit to Small and Medium Enterprises
and reposition the non-oil sector to increase its contribution to the country’s
revenue generation and economic development.
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“The improved export
financing for non-oil exporters will enable them to upscale and expand their
businesses and improve their competitiveness,” the head of the Bank’s Enugu regional office, Chinedu Moghalu, stated on behalf of
the NEXIM Bank Managing Director, Abubakar
Bello.
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