Afrigrants Foundation and Money Trust Micro-finance Bank have recently launched micro-lending scheme, Revive, for market women in the country.
The Chief Executive of Afrigrants Ms Telma Ekiyor and Head Partnership Collaboration of Money Trust Micro Finance Bank, Mrs. Sarah Osunsina, said the goal of Revive is to support this important segment of the economy as they recover from the adverse effects of the COVID-19 Pandemic. The scheme will also support the long term financial inclusion and economic empowerment of every market woman regarded as the main stay of the small and medium business in the country.
The duo also explained that the project would extend beyond loan and recovery of same.
“We are not only out to give loans but to teach the women on the use of the money. This is why the project includes financial literacy training, needs assessment and profiling and assured access to consistent funding for all qualifying beneficiaries. The targeted women will have access to counseling, financial coaching and rudimentary business training as well as financial support to revive and grow their businesses “they pointed out.
The Iyaloja of Jakande Estate Market, Isolo, Lagos, where the project was launched, Mrs. Stella Mojisola Adebiyi (JP), expressed her happiness and those of her members on the Revive project, hoping that it will go a long way to bring financial sanity to the market and other markets in Nigeria.
“Individual efforts at taking loans is cumbersome, erratic and most often too demanding considering that the economy is just recovering from the adverse effect of COVID-19. We look forward to working with Afrigrant and Money Trust for effective business recovery and stability”.
The Revive loan scheme backed by Money Trust Micro Finance Bank is designed to spread across the nation before the end of the year, disclosed Mrs. Lizzy Osunde, Chief Business Officer of Money trust Micro Finance Bank.