Rivers State Micro Finance Agency Reports Success in Micro Credit Scheme
The Rivers State Micro Finance Agency (RIMA) has announced that a total of 2,119 micro and small businesses have benefitted from its micro credit scheme. This information was revealed by the agency’s Managing Director, Jonathan Tobin, during the presentation of RIMA’s scorecard for the year 2024.
In his address, Tobin noted that a substantial sum of one billion, four hundred and sixty-seven million naira has been disbursed to the beneficiaries of the scheme within the review period. He further highlighted that 316 million naira has already been repaid by the business operators, indicating a commendable repayment rate among recipients.
Tobin expressed gratitude to Governor Siminalayi Fubara for his support in releasing one billion naira for the recapitalization of the state micro finance bank. He added that the agency is actively collaborating with the Central Bank of Nigeria to finalize the necessary documentation for the successful establishment of the bank in local government areas across the state.
This initiative aims to empower small businesses in Rivers State and promote economic growth, with RIMA emphasizing its commitment to providing financial support and services to local entrepreneurs. As the agency moves forward, it hopes to enhance its impact on the region’s economic landscape.