Photo: National Development Bank Head Office
The National Development Bank (NDB) in partnership with the Sohe District has launched its Small to Medium Enterprise (SME) credit scheme program, last week in Oro, Northern Province.
Member for Sohe and Minister for Commerce and industry, Henry Amuli, together with executives of The National Development Bank (NDB) and other important dignitaries were present to witness the ceremony. The occasion was witnessed by hundreds that had interest in engaging in the SME sector.
Speaking during the launching of the Sohe District SME credit scheme program, Executive Manager for NDB, Gary Copeland stated that K500, 000 had been paid by Sohe District into NDB to roll out the credit scheme program. Prior to this, the Sohe District paid an initial sum of K500, 000 and with the current deposit the district now has K1 million in totals to carry out the credit scheme program.
Mr Copeland said this is a partnership between the Sohe district and The National Development Bank to assist local people who are engaged in SME activities in the district.
“We welcome everyone in the District who are engaged in SME activities to visit the branch and open an account with Peoples Micro bank and be able to access and take out loans to grow your SME”, he said.
“All it takes from you is 20% deposit, so if you want to borrow K10, 000, you can access the loan with equity of K2, 000, why because the rest of the loan security is taken care of by the Hon Minister and MP through the credit scheme”, Mr Copeland explained.
Meantime, Mr Copeland said one of the main factors of NDB facilitating such services is because of the reopening of the NDB branch in Northern Province that had been closed for almost 3-4 years. He also challenged the people of Oro to utilise the services of National Development Bank for business purposes.
