This scheme comprises two projects. These two projects are namely:
These two projects are targeted towards the most neglected in the society: youths and women. They are geared towards their socio-economic empowerment.
WOMEN ECONOMIC SUPPORT PROJECT, WESP
Introduction:
The purpose of the scheme is to help indigent widows and women in the villages easily access micro-credit facility which they could not ordinarily do with established Micro-credit banks. This project was flagged off by the Mrs. Patience Goodluck Jonathan, the wife of the Vice President in 2006 (when she was the first lady of Bayelsa State ) with 200 women receiving a soft loan of N50,000.00 each.
The Nature of the Project:
This revolving scheme involves the following:
Getting involved:
- Being a member of a women association (cooperative society).
- Membership qualifies the person for a micro-credit of N50,000.00 from the group.
- 3 months payment moratorium.
After 3 months:
N5,000.00 at every month is paid back to the women till payment is completed. Moreso an additional N5,000.00 is paid as interest after full payment of N50,000.00. The cycle goes on…It is noteworthy that most women are given N50,000.00 interest free micro-credit facility. This scheme is managed by the cooperative group leadership.
The N5,000.00 received every month from the initial 200 women is used to give additional 20 women N50,000.00 micro-credit.
After the end of each cycle additional 20+ persons enters into the scheme for next cycle.
And so on…
These women use the micro-credit to pursue business like food stuff trade, palm oil trade, soft drinks trade, recharge card and phone call business, e.t.c..
Successes:
Presently, more than 430 women has benefited from the scheme.
The amount of money in circulation among the women has increase to by N2,500,000.00 from N10,000,000.00 initial take-off of the scheme.
- THE LIST OF SOME OF THE BENEFICIARIES OF W.E.S.P., 2006 -2008 <<
- APPLICATION FOR MICRO-CREDIT
MODE OF APPLICATION:
- Download or print the Application form of MICRO-BUSINESS ASSIST/MICRO-CREDIT SCHEME.
- Fill appropriately and send/mail to the nearest Amange Foundation's office.
- Wait as you will be contacted by Amange Foundation.
For further enquiries see Contact Us
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