The Owerri Chamber of Commerce, Industry, Mines and Agriculture (OCCIMA) has raised concerns over the persistent struggle of businesses in Imo State to survive and grow, despite the availability of a generous funding window from the Federal Government through the Bank of Industry (BOI). The Chamber noted that the facility, a collateral-free loan of up to N10 million, remains largely untapped by entrepreneurs in the state.
According to a statement released by the President of OCCIMA, Barr. Tony Amadi, the Chamber is deeply worried that many Imo entrepreneurs are either unaware of or unable to access the fund, which was specifically designed to support small and medium-scale businesses across Nigeria.
“The problem is not that the money is unavailable,” Barr. Amadi said. “It is that our people have not understood how to access it, and many are not equipped with the linkages or mentorship needed to make their business proposals bankable. This is exactly the gap OCCIMA intends to bridge.”
In a bold move to tackle the challenge head-on, OCCIMA has announced its decision to act as a facilitator and guarantor for Imo-based entrepreneurs who wish to access the BOI facility. The Chamber said it is mobilizing local business owners, start-ups, and aspiring entrepreneurs to take advantage of this rare opportunity to secure funding without the usual hurdle of collateral.
“We are inviting every son and daughter of Imo State who is interested in doing business , whether you’re just starting or you’re already running a business but struggling due to lack of funds, mentorship or market linkages, to come forward,” Barr. Amadi stated.
Through this initiative, OCCIMA aims to reshape the economic landscape of Imo State by empowering entrepreneurs with not only access to funding but also the knowledge, partnerships and institutional backing required for sustainable business growth.
The Chamber has set up an application and support process to help interested individuals navigate the requirements of the BOI loan scheme. OCCIMA will also provide technical assistance, business development services, and mentorship to ensure successful disbursement and utilization of the funds.
Barr. Amadi emphasized that this intervention is part of a broader strategic vision to accelerate socio-economic growth and development in Imo State. “By supporting our local businesses, we are strengthening the economy, creating jobs, and reducing poverty. This is not just about money; it is about building a new future for Imo State,” he added.
Entrepreneurs across the state have been urged to take advantage of this opportunity while it lasts, as OCCIMA prepares to launch its outreach and application drive in the coming weeks.
For further details on how to apply or participate in the initiative, interested persons are encouraged to contact the OCCIMA secretariat at 123 Okigwe Road, Owerri.
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