From allAfrica

“I know not everybody cannot afford to provide collateral to go to the bank, because when I first started as a business woman, I could not afford to go to the bank, because it was one year with 14-18 percent interest, So I never went to the bank again,” says Montserrado District #1 Representative Josephine Francis.”

Addressing the Small Medium Enterprises panel held at the Monrovia City Hall for entrepreneurs, Representative Francis, also known as the “Master Farmer”, because of her farming activities long before entering politics, said in the last five years, with the stimulus package through the Central Bank, given to the Liberia Bank Development and Investment to encourage SME to take a loan for eight years, she was able to take a loan.

Said Francis: “If I tell you today, that all was rosy for me when I started a business, I won’t be telling you the truth, because it was not easy at all.”

Francis says with the eight percent interest from the Bank, I grabbed that opportunity to expand my business, so SMEs can also take advantage of that opportunity as well. I want to encourage other SMEs to keep pressing forward, no matter the difficulties.”

Written by Mae Azango/Read more at allAfrica