Bank of Industry, MTN offer training, N2 million credit to female entrepreneurs
Nigeria’s Bank of Industry and telecoms company, MTN, have announced a business initiative that will train female entrepreneurs and provide them with loans and grants.
The effort, through MTN’s Y’ellopreneur, will train and provide N2 million credit to 100 female entrepreneurs, MTN said.
The entrepreneurs will use the equipment loans to grow and sustain their businesses, and grants would be extended to those who meet expectations of the credit terms, upon full payback of the loan.
The loan has a moratorium of six months and a 36-month repayment period. The repayment period, however, is subject to the terms and conditions reached between the female entrepreneur and BOI.
The loan has an interest rate of 2.5 per cent value, less 25 per cent as given as grant.
The sponsors say female entrepreneurs who display passion and commitment to self-employment and run an existing business of two years and above in manufacturing, processing, agriculture, ICT/digital services, financial services are qualified to apply. Businesses that source raw materials locally are preferred.
The applicant must have at least a minimum qualification of a secondary school certificate, and have up till July 20 to apply.
Applicants will be required to possess a laptop or tablet or internet-enabled device.
Support PREMIUM TIMES’ journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
Donate
TEXT AD: Call Willie – +2348098788999
