FAME foundation was established to solicit, encourage and advance the social, emotional and economic wellbeing of women and girls as well as formulate programmes within the framework of national development plan with a view to enhancing the participation of women and advocate for gender parity in the society.
FAME foundation firmly believe that the entire nation, businesses, communities and groups can benefit from the implementation of programs and policies that adopt the notion of women empowerment.
The Bank of Industry of Nigeria and MTN, Nigeria’s telecoms provider, have established a business program to train female entrepreneurs and assist them with loans and incentives. MTN’s Y’ellopreneur initiative will train and credit 100 female businesses with N2 million, according to the company. According to Premium Times, the entrepreneurs will utilize the equipment loans to build and sustain their enterprises, and grants will be given to those who satisfy the credit terms and repay the loan in full.
Details on the loan The loan includes a six-month moratorium and a 36-month payback term. The payback time, on the other hand, is subject to the terms and circumstances agreed upon by the female entrepreneur and the BOI. The loan has an interest rate of 2.5 per cent of the loan amount, minus a grant of 25%.
How to qualify – According to BOI, MTN, the application is opened to female entrepreneurs who display passion and commitment to self-employment.
It is also for existing businesses of two years and above in manufacturing, processing, agriculture, ICT/digital services, and financial services qualified to apply.
Businesses that also 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.