Friday
August 26
2016

Nigerian Govt Rolls Out N1.6 Billion ‘National Women Empowerment Fund’

To facilitate growth and entrepreneurial development at grassroots level, and in line with the federal government’s Social Investment Programmes, the Minister of Women Affairs and Social Development, Senator Aisha Jummai Alhassan has announced the roll out of a N1.6 billion naira special intervention fund tagged, ‘National Women Empowerment Fund’ (NAWEF), which is in partnership with the Ministry and Bank of Industry (BOI).

Speaking at a stakeholder’s consultative meeting for the implementation of the NAWEF, organised by the ministry yesterday in Abuja, the Minister sketched the outline for the pilot phase, which will cut across 8 states; Abia, Adamawa, Akwa Ibom, Borno, Jigawa, Nassarawa, Osun and Yobe.

According to the details, to enhance income generation while providing micro-credit financing, the micro-credit scheme will be disbursed as a loan from between N20,000 to N50,000, with a 5 per cent admin fee to credible registered women groups, payable within 6 months.

 10,000 women are expected to be registered in each of the 8 states, with a road show planned in participating areas as an advocacy tool for targeted market women, women artisans, and women farmers amid others.

Source: All Africa (link opens in a new window)

Categories
Entrepreneurship, Investing
Tags
entrepreneurship, financial inclusion, social development, Women