Beneficiaries and owners of small and medium scale businesses in Cross River have expressed their excitement and happiness with the May & Frank Akpo Foundation for empowering them with non-refundable cash to boost their businesses.
The foundation Thursday in Calabar empowered not fewer than twenty small scale business owners with N50,000 each with a promise to increase the amount subsequently if beneficiaries make good use of the funds through business expansion.
Speaking while disbursing the cash, the executive director of the Foundation/ Board of Trustees chairman, Dr. Eric Akpo, stated that the gesture was meant to alleviate the plight of business owners in the midst of untoward economy.
He believed that by so doing, such businesses would be able to stand on their feet so as to also provide shoulders for the less privileged.
“We are trying to help young people grow in their individual businesses in view of the economic situation where businesses have not been standing firm.
“This will provide quick funding for them to continue standing on their own. This intervention will help them stabilise their businesses so as to expand.
“This will also help them create employment and also add to the GDP of the state. The money given out are not recoverable and beneficiaries who grow their businesses will stand a chance of receiving more grants from the foundation,” Akpo stated.