RIV-CARES: Fubara Partners World Bank, BOI To Empower 3,700 SMEs

Rivers State Government in collaboration with World Bank and Bank of Industry has deployed N19 billion to stimulate the economy of the State, thereby empowering 3,700 Micro Small and Medium Enterprises (MSMEs).
This was made known by the state Commissioner for Budget and Economic Planning, Dr. Peter Medee at the 2024 SMEs disbursement ceremony for phase 3 beneficiaries of Rivers State COVID-19 Action Recovery And Economic Stimulus (RIV-CARES), Result Area 3, organised by the state Ministry of Commerce and Industry in Port Harcourt last Wednesday.
The Commissioner who is also the Chairman, State CARES Steering Committee (SCSC), commended the governor of the state, for what he called a kind and enterprising heart.
Medee noted that the governor has made many moves towards poverty alleviation and promotion of Small And Medium Enterprises (SMEs) in the State, adding, “all the money that need to get into the economy is sent straight into the economy. The result is the number of beneficiaries we have here today.
“It shows the governor is committed, dedicated and interested in stimulating the economy of Rivers State. Our target is to grow businesses in the State. The beneficiaries will start receiving their grants this week”.
The Commissioner also launched the MSMEs Portal (https://rivbusiness.ng/), stating that Result Area 3 has indeed gone digital in processing business data and procedures.
In his address, the Permanent Secretary, Ministry of Commerce and Industry, Mr. Lawson Renner Ikuru said RIV- CARES, Result Area 3 has benefitted 3,700 entrepreneurs as against the initial target of 2,700 entrepreneurs.
He noted that the intention is to “improve productivity, reduce unemployment and reduce youth restiveness.
The Perm Sec. congratulated the beneficiaries for scaling through the fair and transparent process set up by the world Bank and Bank of Industry, their partners, noting that technical heads of State CARES and RIV-CARES have worked tirelessly to make the programme a success.
He charged the beneficiaries to ensure they invest the grant to grow their businesses, adding that invested fund can yield money for enjoyment tomorrow.
Ikuru however warned against those impersonating to defraud the poor, stating that the Ministry would always fight against evil.
The Technical Head, State CARES Coordinating Unit (SCCU), Mrs. Imaonyani Ephraim-George said the launched portal would provide opportunity for database for whatever businesses people are transacting in the State.
Ephraim-George reiterated that the has done well in this national, world and state collaboration grant programme because “Governor Fubara has been passionate about the well-being of his citizens.
“Rivers State came 7th in terms of having reached to the beneficiaries across the nation and getting returns for investment by the entrepreneurs”, he said.
In her welcome address, the Technical Head, RIV-CARES Result Area 3, Mrs. AmieyeIgein Sally expressed satisfaction that the objective of the programme has been met, adding that the programme is still ongoing.
Mrs. Amieyelgein while responding to questions from pressmen said the process has also been gender sensitive, noting the need for beneficiaries to make use of the knowledge gainered from the training during the ceremony.
One of the beneficiaries, Mr. Peckinson Ikhajiangbe, the Manager of Providence Properties International, said the programme was very impactful and has alleviated the burden of the common man.
He commended the transparency in the system and said he never believes it is a reality until today, noting that his business is already heading to the next level.
Another beneficiary, Mr. Oladimeji Kusimo of KUSH Medical Laboratories Limited , expressed his happiness for scaling through the process, adding that the grant will position his company to do better.
He noted that the machines given to him has already projected his laboratory to go digital.
The highlights of the ceremony were the technical training sessions, the giving out of the dummy cheques, the digital systems, like laptops, phones, POS and other materials.

Lilian Peters