Entrepreneurship

Afrigrant Foundation, Money Trust MFB launch ‘Revive’ for market women.

Afrigrant Foundation in partnership with Money Trust Micro Finance Bank (MFB) has launched Revive, a micro-lending scheme to support market women in Nigeria.

Speaking on the initiative, Chief Executive Officer, Afrigrants, Telma Ekiyor, and Chief Business Officer of Money Trust MFB, Sarah Osunsina, 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 duo said the scheme will also support the long-term financial inclusion and economic empowerment of every market woman.

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The two executives also informed that the project extends 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 said.

The Iyaloja of Jakande Estate Market, Isolo, Lagos who was together with her members on the Revive project expressed delight about the programme saying it’s a welcome development.

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She also hopes that it will go a long way in bringing financial sanity to the market and other markets in Nigeria.

She said: “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 which is backed up by African Development Bank is designed to spread across the nation before the end of the year.

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