Nigeria launched a $500 million loan facility for small and medium-sized businesses last week aimed at supporting economic growth and creating jobs in Africa's most populous nation. Nigeria is performing a tricky juggling act, balancing the need for economic growth while trying to reduce high inflation, which has remained in double digits for more than a year. Also launched was a $200 million fund for the entertainment sector, highlighted as an area with promising prospects for growth and job creation.
What do you think the facility will do for businesses and the African economy?
Why do you think there entertainment is so successful and what will the $200 million dollars do for it?
I think that even when it is not much money compared with what U.S. government launch every year in loans for small and medium businesses, it will be very useful for the people to start new businesses and for the country creating new jobs.
ReplyDeleteI think this will be a great opportunity for Africa and the people, creating new jobs and a better standard of living for some.
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