By Chris Agabi
The Group Managing Director/CEO of Benue Investment and Property Company Limited (BIPC), Dr. Raymond Asemakaha-CFA, has disclosed plans to set up a Benue Investment Trust Fund (BITF).
The BIPC powered BITF will provide financial support and resources to young entrepreneurs, enabling them to start and grow their micro, small and medium enterprises.
Dr. Asemakaha disclosed this during a zoom virtual town hall meeting titled “Advancing economic development in Benue State: Our Recent Achievements and the Future Outlook” held on Friday.
He said the Trust Fund is a part of a broad strategy to build an inclusive but diversified economy leveraging the cascading impacts of MSMEs empowerment.
He further indicated that the current initiatives of the company are aimed at also redirecting Benue youths into the business ecosystem.
Even though the state has multi sectoral challenges, he acknowledged the Executive Governor of Benue State, Rev. Fr. Dr. Hyacinth Iormen Alia to have headhunted technocrats like him who are fixing it and redirecting the state economy to take its original place.
He said, “Jobs lost from 2014 to 2023 peg at 907,676 in smes sector. This administration is able to reverse the negative growth from -3.2 to Positive just within one year. output has to exceed population growth going forward. Presently, our output growth is low in relation to population growth.
“That is why we are coming up with effective strategies and policies such as Benue states inclusive economy policy, Benue state policy on micro small and medium, Benue state industrial and trade policy etcetera to create an enabling environment for businesses to thrive,” Asemakaha explained.
“By redirecting Benue youth into the business ecosystem, BIPC aims to create a vibrant entrepreneurial culture in the state. The establishment of the Benue Investment Trust Fund is a significant step towards achieving this goal, and it is expected to have a positive impact on the state’s economy.
“This initiative aims to empower young people in the state to become entrepreneurs and job creators,” Asemakaha added.
The virtual town hall meeting, hosted by Irene Azubuike of Viider Consulting provided a platform for stakeholders to engage with Dr. Asemakaha and other contributors.
