Tuesday, 22 October 2013

N220bn fund: APWB backs 60% lending to women

The Association of Professional Women Bankers (APWB) has given its support to the Central Bank of Nigeria policy on the disbursement of 60 per cent of the N220 billion-Micro Small and Medium Enterprises Development Fund (MSMEDF) to women with viable projects. 
According to the immediate past chairman of the association, Mrs. Taiwo Ige, since the objective is to create successful women entrepreneurs, such long-term funding must be secured at single-digit interest rate.
Ige stated this at the weekend at a briefing to announce its forthcoming annual corporate forum/dinner.
Speaking in the same vein, its Chairman of the APWB, Mrs. Tinuola Ajayi, who said that the nation stands to gain a lot if more women were empowered, noted that they were saddled with financial illiteracy level that needed to be addressed as many women were currently incapable of using new technology, implementing their viable ideas meant to enhance their businesses and the process of accessing funds.
She explained that the association through its new initiative on knowledge development for students and women empowerment would help to encourage business operators access to guidance, information and financial advisory services for funding opportunities that will assist them along the pathway to success.

“APWB is also partnering with universities on a special initiative to take the message to the youths, to this end we are partnering schools. This project is tagged M4G (Mentoring for growth), CEGIST dept of the Federal University of Technology, Akure (FUTA) is the pilot institution and headquarters of the project,” she stated.
According to her, this is to help students to be more creative in their thinking using knowledge acquired in school to generate ideas for business opportunities.
Mrs. Ajayi stated that the Association effort was also to complement the apex bank’s move to ensure that 40 per cent of top management positions in banks are held by women and 30 per cent of board positions not only in banks but other sectorial boards will also be reserved for women.
She explained, “Women are nation builders because apart from their role of bringing forth future generation, they are great managers of the home front and in recent times, this peculiar managerial acumen has been put to use by many women in the area of business as they are able to transform a petty trade to an industry.
“Without doubt, the role of women in the development of any nation, socially and economically cannot be undermined. Bearing this in mind, nations have developed strategies that would empower their female gender.”
Source: The Sun News

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