BREAKING: GOBIR FOUNDATION UPGRADES MICRO-CREDIT SCHEME, ONE YEAR AFTER COMMENCEMENT.
Admin Just Event Online TV
The Gobir Organization Foundation has upgraded its micro-credit scheme. The Foundation has introduced a community cooperative loan system for women in Kwara State, in order to streamline the lending procedure and encourage intra group development & cohesion among beneficiaries.
It should be recalled that the Foundation set aside 250 million Naira for the micro-credit loan project and started disbursement of the interest-free & collateral-free loans to individual women in Kwara State in September 2019.
The project which started with 500 women, has since captured over 20,000 women in Kwara State in the last one year.
Most of the beneficiaries have lauded the scheme and affirmed that the loans contributed immensely to their businesses and have provided a cushion against the negative effects of the COVID-19 pandemic on their businesses.
In a bid to make the program more impactful and sustainable, the Gobir Organization Foundation has improved on the scheme and relaunched it as a community cooperative loan, which will run in cycles starting from N10,000 to N50,000 per beneficiary. Furthermore, the scheme has been enriched through the introduction of a savings scheme to encourage savings culture for self-reliance. This gives beneficiaries the opportunity to save as they repay their loans, similar to the local savings system popularly known as ‘Ajo’.
The Foundation is confident that this new phase of the empowerment program would bring more relief and benefit to all beneficiaries and encourage intra-group development, solidarity, and entrench a savings habit among beneficiaries.
The Foundation has announced that registration of intending beneficiaries has commenced, and interested new and already existing community cooperative groups or trade associations can reach out to the Foundation’s desk on 09081249929 or visit www.gobir.org.