Total Exporation and Production (E&P) has empowered 57 Small and Medium Entrepreneurs (SMEs) in Akwa Ibom State with microcredit loans.
The Deputy Managing Director of Total Exploration and Production E&P, François Le-coco said the exercise was in line with the sustainable corporate responsibility policy of Total Group and a key part of the principles of the NNPC/TEPNG Joint Venture activities.
Le-coco while speaking during the official launch of the loan scheme held at the Governor’s Office Annex in Uyo, said the loans were aimed at improving the socio-economic development of its host communities.
He said the company is poised to supporting potential entrepreneurs and businesses that have challenges due to lack of capital and credit facilities.
He stated that NNPC/TEPNG has identified with business and entrepreneurs over the years.
‘’It is therefore our desire to stimulate the growth and development of viable small and medium size enterprise within the state by instituting this Micro-credit facilities to support both existing and upcoming entrepreneur,’’Le-coco stated.
“To ensure the sustainability of this scheme, we sought the partnership of an experienced Professional financial service provider, GUFAX Micro- Finance Bank to assess, evaluate and advice on the enterprise with the greatest potentials for success while we perform the identification process of beneficiaries.we have confident that they will achieve their full potential”. He said
The Deputy Managing Director enjoined the beneficiaries to make good use of the loan.