GoldenNewsNG
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
No Result
View All Result
Golden News
No Result
View All Result

Apply for CBN Micro, Small and Medium Enterprises Development Fund (MSMEDF) 2022

Enudi Golden by Enudi Golden
January 11, 2024
in business, Featured, Headline, World News
Reading Time: 2 mins read
Apply for CBN Micro, Small and Medium Enterprises Development Fund (MSMEDF) 2022
34
SHARES
Advertisements

Apply for CBN Micro, Small and Medium Enterprises Development Fund (MSMEDF) 2022, N220 billion following the guideline below..

CBN launches MSME Development Fund with N220 billion share capital. The fund was set up to make significant contributions to the economy of the Micro, Small and Medium Enterprises (MSME) sub-sector and to recognize the existing large financial gap.

Ten (10) percent of the MSMEDF – MSME Development Fund is dedicated to development goals such as grants, capacity building and administrative spending, while ninety (90) percent of the commercial part is dedicated to partner financial institutions (PFIs) at a rate of 2% for lending to MSMEs. Will be published. 9% per year at the maximum interest rate.

READ ALSO

FG Increases Scholarship Grants, Launches New ₦6 Billion Scheme for Medicine, Vocational Studies – Apply Now

Apply Now: Lagos State Reopens Scholarship Portal for 2024/2025

Eligible activities for financial assistance include agricultural value chain, services, cottage industries, artisans, trade and commerce and any income generating business as may be specified by CBN from time to time.

Objectives of the MSMEDF – MSME Development Fund

Apply for CBN Micro, Small and Medium Enterprises Development Fund (MSMEDF) 2022

The broad purpose of the fund is to provide low interest funds through PFIs to the MSME sub-sector of the Nigerian economy:

  • Enhance access by MSMEs to financial services;
  • Increase productivity and output of microenterprises;
  • Increase employment and create wealth; and
  • Engender inclusive growth

Benefits of the MSMEDF to Some Stakeholders

PFIs
The Developmental Components will be utilized for capacity building of staff of PFIs, research and provision of other financial services infrastructure

MSMEs
Long term single digit loans at 9% p.a. This has resulted in reduced cost of borrowing which will impact positively on the earnings of the MSMEs

Microfinance Sub-sector
The Fund will provide liquidity for the sub-sector and result in general improvement of the financial system stability

General Public
Job creation

Eligible Activities under the MSMEDF

In line with the provisions of the Revised Microfinance Policy, Regulatory and Supervisory Framework for Nigeria, enterprises to be funded under the Scheme include:

  • Micro Enterprises
  • Small and Medium Enterprises (SMEs)

The following are eligible activities under the Fund:

  • Microenterprises
  • Agricultural value chain activities
  • Cottage Industries
  • Artisans
  • Services
  • Renewable energy/energy efficient product and technologies
  • Trade and general commerce

Other economic activity as may be prescribed by the CBN
Note: Only 10% of the Commercial component of the Fund shall be channeled to trade and commerce.

FAQ: https://www.cbn.gov.ng/MSME/FAQonMSMEDF.pdf

📢 JOIN OUR WHATSAPP GROUP 📢 JOIN OUR TELEGRAM CHANNEL
Previous Post

Happy Mother’s Day 2022 : 100 Happy Mothers Day Messages To Send To Your Mother, Grandma,Sisters and wife

Next Post

BREAKING: God of Vengeance Singer, Prince Chinedu Nwadike Is Dead

Related Posts

FG Increases Scholarship Grants, Launches New ₦6 Billion Scheme for Medicine, Vocational Studies – Apply Now

FG Increases Scholarship Grants,

The Federal Government of Nigeria has announced an increase in scholarship grants across all academic levels and introduced two new...

Read moreDetails

Apply Now: Lagos State Reopens Scholarship Portal for 2024/2025

Apply: Lagos State Scholarship Reopened for 2023/2024 and 2024/2025

Good news for Lagos State students! The Lagos State Scholarship Board (LSSB) has officially reopened its portal for scholarship applications...

Read moreDetails

Kano Govt Announce Recruitment for Biomedical Engineers

Kano Govt Announce Recruitment for Biomedical Engineers

The Kano State Hospitals Management Board, with the approval of His Excellency Alhaji Abba Kabir Yusuf, has announced job openings...

Read moreDetails

Digital Skills for Women in Business 4.0 – Apply Now for Free Training 

Digital Skills for Women in Business 4.0 – Apply Now for Free Training 

Boost Your Business: Free Digital Skills Training for Women Entrepreneurs in Lagos Boost Your Business: Free Digital Skills Training for...

Read moreDetails

Petrol Prices Fall as Importers Challenge Dangote Refinery with Cheaper Fuel

Petrol Prices Fall as Importers Challenge Dangote Refinery with Cheaper Fuel

Petrol Prices Fall as Importers Challenge Dangote Refinery with Cheaper Fuel A fresh wave of competition is shaking up Nigeria’s...

Read moreDetails

SMEDAN Launches Solar-Powered Fashion Hub in Abuja for Just N500 Daily

SMEDAN Launches Solar-Powered Fashion Hub in Abuja for Just N500 Daily

SMEDAN Launches Solar-Powered Fashion Hub in Abuja for Just N500 Daily If you’re a fashion designer or tailor looking for...

Read moreDetails

NPHCDA Opens Recruitment for Local Government Vaccine Accountability Officers

NPHCDA Opens Recruitment for Local Government Vaccine

NPHCDA Opens Recruitment for Local Government Vaccine Accountability Officers The National Primary Health Care Development Agency (NPHCDA) has announced the...

Read moreDetails

FG Announces Key Changes in Education Funding Process – links disbursement of UBEC fund to state performance 

FG links disbursement of UBEC fund to state performance 

FG Announces Key Changes in Education Funding Process - links disbursement of UBEC fund to state performance   The Federal Government is...

Read moreDetails

FG Gives Fresh Update On 2025 Police Recruitment

2025 Police Recruitment

The Federal Government has shared a fresh update on the much-anticipated 2025 police recruitment exercise, giving Nigerians a clearer picture...

Read moreDetails

Teachers Recruitment: Bayelsa Releases Shortlist Update, Confirms Payment of Salary Arrears

Teachers Recruitment: Bayelsa Releases Shortlist Update, Confirms Payment of Salary Arrears

Teachers Recruitment: Bayelsa Releases Shortlist Update, Confirms Payment of Salary Arrears If you're one of the many applicants waiting to...

Read moreDetails
Load More
Next Post
BREAKING: God of Vengeance Singer, Prince Chinedu Nwadike Is Dead

BREAKING: God of Vengeance Singer, Prince Chinedu Nwadike Is Dead

SEARCH ADS

Latest Posts

FG Increases Scholarship Grants,
Education

FG Increases Scholarship Grants, Launches New ₦6 Billion Scheme for Medicine, Vocational Studies – Apply Now

Apply: Lagos State Scholarship Reopened for 2023/2024 and 2024/2025
Education

Apply Now: Lagos State Reopens Scholarship Portal for 2024/2025

Kano Govt Announce Recruitment for Biomedical Engineers
Headline

Kano Govt Announce Recruitment for Biomedical Engineers

Digital Skills for Women in Business 4.0 – Apply Now for Free Training 
business

Digital Skills for Women in Business 4.0 – Apply Now for Free Training 

Petrol Prices Fall as Importers Challenge Dangote Refinery with Cheaper Fuel
business

Petrol Prices Fall as Importers Challenge Dangote Refinery with Cheaper Fuel

SMEDAN Launches Solar-Powered Fashion Hub in Abuja for Just N500 Daily
business

SMEDAN Launches Solar-Powered Fashion Hub in Abuja for Just N500 Daily

NPHCDA Opens Recruitment for Local Government Vaccine
Headline

NPHCDA Opens Recruitment for Local Government Vaccine Accountability Officers

FG links disbursement of UBEC fund to state performance 
Education

FG Announces Key Changes in Education Funding Process – links disbursement of UBEC fund to state performance 

2025 Police Recruitment
Headline

FG Gives Fresh Update On 2025 Police Recruitment

Teachers Recruitment: Bayelsa Releases Shortlist Update, Confirms Payment of Salary Arrears
Headline

Teachers Recruitment: Bayelsa Releases Shortlist Update, Confirms Payment of Salary Arrears

© 2024 Golden News

  • About Us
  • Advertise with Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms And Conditions
No Result
View All Result
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us

© 2024 Golden News