Wednesday, 10 July 2019

NEXIM BANK DISTRIBUTES N3BILLION TO WOMEN EXPORTERS

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.

Hmmm!!! Folks, let us say the truth and shame the devil. Many Nigerian non-oil products exporters have been 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 export trade? Yes, it is a contemporary step-by-step guide to export trade. It tells all the contemporary dynamics in export trade. To get it, click on this link: http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html

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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While speaking on the sidelines of the International Trade Centre-SheTrades in Commonwealth and the Nigerian Export Promotion Council event in Lagos, the National Coordinator, SheTrades in Commonwealth Project, Terfa Ashwi, noted that the centre was building the competitiveness of women in the agriculture, textile and apparel and the Information and Communications Technology sectors. 

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