Gulf, bank help local businesses

Business

GULF Governor Chris Haiveta says K1 million from the provincial services improvement programme funds will be given to the National Development Bank to assist locals venturing into small businesses.
“I am giving a K1 million to the National Development Bank for small scale industries, basically for people who want to be involved in the sector (needing) loans,” he said.
Haiveta said following guidelines, loans from K5,000 to K10,000 will be provided for poultry projects, fishing projects and small scale marketing.
“The NDB has agreed to match it with another K1 million. So K2 million will be managed by the bank,” he said.
Haiveta said similar projects previously failed because the funds were managed by commerce officers in the department.
The funds will be allocated to women, youth, agriculture and fisheries.
“This will go a long way towards sustaining the livelihood for our people and encouraging people to (go into) fishing, crab farming, prawn farming, poultry farming, piggeries – little things to keep them going,” he said.
“That for me is putting money into the pockets of our people and also empowering them to be economically independent.”