Bank of Industry to Provide Funding to ICT Entrepreneurs
Information and Communications Technology entrepreneurs in the country are being extended a funding line from the Federal Government.
This was disclosed by Evelyn Oputu, the Managing Director of the Bank of Industry at an event in Lagos.
She said: “We do not have sector specific for ICT. As situation arises, we give loans to ICT firms that have shown willingness to do business and achieve results. We take seriously every sector that has impact on the people. ICT is one of those sectors, though its yet to realise its potentials in the country.
“At the Bank of Industry, we reject any aspect of the economy that do not impact on the country’s Gross Domestic Product. We lay emphasis on value added creations. We have a lot of schemes in the bank. That is why we are coming out with a unique way of lending to businesses. However, the funds would be given to only the serious ICT entrepreneurs who have shown a lot of commitments to his/her businesses. I wants you to be rest assured that you have a banker that would support you, may be at a single-digit rate or very close.
“Our responsibility is to support any transactions you are bringing, but would vet them and see whether they are qualified for loans. Once you are coming with your technology and capacity , we would give you funds to scale up your operations. What we are trying to do is to get those funds out there back to BoI, for onward lending to entrepreneurs in the ICT industry at a single-digit rate,“