The Executive Chairman of Lagelu local government, Mr. Mudashiru Kamorudeen has launched a cooperative credit bank in partnership with Itesiwaju Cooperative Society- for affordable finance and credit facilities to small businesses and startups.
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The program, according to report from the Chairman’s office- was said to be a major platform to foster and democratize accessibility to financial services and support for new startups and small businesses in the local government.
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Speaking at the program launch on Tuesday, the council chairman said the cooperative credit bank was envisioned to drive local economic growth and social upliftment.
His statement in brief;
“It is evident, given the centrality of small businesses to the local economy, that a more clement and supportive operational environment has to be afforded them, as a starting point to revamping MSMEs in the grassroot…. Our plan therefore- is to make Lagelu local government supportive of startups and small businesses through the usage of creative support programs, and affordable financial services”- he said.
The program was described as a welcome development by a good number of participants from across the local government area.