Kwara Supports 490 SMEs With Interest-free Loans

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At least 490 small and medium enterprises (SMEs) have won varying amounts of non-interest loans under the Kwara State social investment programme to grow

The 490 young business owners got between N1.5m and N2m each at a symbolic ceremony on Tuesday in Ilorin, the state capital, where Governor AbdulRahman AbdulRazaq handed them the cheques.

The 10 main winners, who pitched different business ideas ranging from printing, fashion, waste recycling, and agriculture value chains, were Hussein Ahmed ; Azeez Akeem ; Soliu Lanre ; Oladunni Olaide ; Femi Peter ; Sanusi Adeshina ; Ali Michael ; Kareem Naimat ; Adebayo Tinuola , and Abdulrauf Abdulraheem .

The winners emerged from a process involving 15,708 applicants following different layers of screening by jurors drawn from among private sector and public service top players. The interest-free loans were given through Kwapreneur 3.0, a third in the series of the youth-focused initiative of the AbdulRazaq administration to support young people to thrive.

AbdulRazaq said: “This is another success story and a boost for small scale businesses in the state. Our administration will not relent in making Kwara State a better place to live and invest.”

 

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