Afrigrants Foundation and Money Trust Micro Finance Bank has introduced a micro-lending scheme tagged REVIVE to support market women in Nigeria.
The Chief Executive of Afrigrants, Ms Telma Ekiyor and Chief Business Officer of Money Trust Micro Finance Bank, Mrs. Sarah Osunsina explained that 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 hopes to support the long term financial inclusion and economic empowerment of every market woman, especially those regarded as the main stay of the small and medium businesses in Nigeria.
The two executives also disclosed that the project extends beyond loan and recovery of the 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.”
The Revive loan scheme which is backed up by African Development Bank is designed to spread across the nation before the end of the year.
