US Venture Launches N600bn Scheme for Imo MSMEs

A US-based venture, represented by Mambu Sherman, Managing Director of Calp Lab, has launched a N600 billion scheme to enhance entrepreneurship and capital access for micro businesses in Imo State. The initiative was disclosed during an interaction with journalists in Owerri, where Sherman stated that beneficiaries would be selected in collaboration with the state government.

The scheme is designed to leverage community and family businesses to address unemployment, focusing primarily on agribusiness, agro-processing, micro-manufacturing, artisan skills, and trade. The initiative is part of a broader economic development strategy, with the goal of empowering 1,000 businesses and generating approximately N250 billion in business revenue, which is expected to create 20,000 new jobs.

The program aims to systematically remove barriers to growth and improve access to vital financial opportunities for local entrepreneurs, reflecting a global shift towards modern entrepreneurship that requires connected support systems.