1,000 SMEs to benefit from N50m Rotary microcredit

Small and Medium scale Enterprises across Lagos and Ogun States have received a major boost with the unveiling of the N50million mega microcredit scheme by the Rotary International, District 9110.

The scheme, a major project for the 2020-2021 Rotary year,  the brainchild of the Rotn. Bola Oyebade-led executive, will see over 1, 000 SMEs benefiting from interest-free loans payable in five months.

At the ceremony to kick off the scheme recently, 40 participants drawn from Lagos and Ogun States received cheques of various sums.

Justifying the need for the scheme, the newly installed 2020/2021 District 9110 Governor, Rotn. Bola Oyebade said it is the club’s way of giving back to the society, especially the indigent members to empower them. “We don’t want a lot of people to be dependent on others, hence we came up with this scheme as part of our project this Rotary year and hope to sustain this forever,” he said.

Echoing similar sentiments, the Chairman Planning Committee, Rotn. Oluranti Ojuroye, said the planning and logistics of the initiative was painstaking as the committee worked with the over 100 Rotary clubs within the two states to interview prospective beneficiaries, most of who are non-members of Rotary.

Also speaking at the event, former District 9110 Treasurer, Rotary International, Rotn. Gabriel Oyeama admonished the beneficiaries to ensure they put the funds into good use, as this would encourage their benefactors to extend the gesture to other prospects.

Speaking with a cross-section of the beneficiaries, Anthony Anayo Anyadike, Mrs. Julian Nwaokafor, Solomon Olusola, they were full of praises for the organisers, saying that the soft loans will help them to take their businesses to the next level.