Yemi Osinbajo’s GEEP Programme Awarded in Malabo, Equatorial Guinea for Financial Inclusion[/b]

The FG’s enterprise empowerment and financial inclusion programme GEEP (Government Enterprise empowerment programme), has been awarded as the most impactful financial inclusion programme in Africa. The award was given to the executing body, Bank of Industry at the African Bankers Awards, which was hosted by African Banker magazine in conjunction with Business in Africa Events and held during the Annual Meetings of the African Development Bank (AfDB) in Malabo, Equatorial Guinea.

According to the award documentation, the African Banker’s Award for financial inclusion is for the organization, product or program that has best succeeded in delivering financial products and services to wider parts of society, particularly to the most disadvantaged and low-income segments, ultimately contributing to financial inclusion, development, and growth.

The Government Enterprise Empowerment Programme (GEEP) which was launched as a product of the Social Investment Programme (SIP) has benefitted over 2 million local entrepreneurs across the 3 GEEP projects: MarketMoni, FarmerMoni, and TraderMoni; this makes it the largest government-led microcredit program globally. These 3 programs empower micro-enterprises with interest-free and collateral-free loans to grow their businesses.

MarketMoni targets small businesses with soft loans from N50,000 to N100,000 while FarmerMoni targets local smallholder farmers with loans starting at N250,000 and a buy-off guarantee on there produce. TraderMoni having the widest reach due to the target demography has given loans starting at N10,000 to over 1.8 million beneficiaries.

The awards event featured financial institutions and projects from all 54 countries in Africa, as well as the international community. Other award categories and winners at the event include: Investment Bank of the Year (ABSA Capital), Best Retail Bank in Africa (Ecobank ETI), Innovation in Banking (KCB – Kenya), Regional Bank of the year (East Africa – KCB, Kenya; West Africa – Orabank; North Africa – Banque de l’Habitat (Tunisia); Southern Africa – Mauritius Commercial Bank; Central Africa – BGFI, Gabon), Central Bank Governor of the Year (Tarek Amer, Central Bank Governor– Egypt) among others.

Of the over 2 million beneficiaries of the GEEP, the vast majority of these micro-enterprises are petty traders, merchants, enterprising youth, and agricultural workers in over 1600 clusters and markets across all 36 states of Nigeria, and the federal capital. These traders and artisans are financially marginalized, having no access to corporate financial services like a savings account, mobile banking, loan facilities, and the likes. The GEEP, especially the TraderMoni programme, is designed to adequately cater for this majority of the nation’s economy by simply using their mobile numbers as simple means to access all the above listed financial facilities.

Apart from easy access to these loans, TraderMoni beneficiaries are given a proper and convenient payback plan. For example, beneficiaries of the first tranche of the loan, which is N10,000, are given a payback plan of N430 weekly for 6 months. This repayment does not necessarily have to be done in a commercial bank. The Bank of Industry has designed repayment vouchers sold by TraderMoni agents across all markets listed on the programme.

So far, thousands of impact stories have been recorded from with beneficiaries narrating how the GEEP has empowered them to expand and sustain their businesses while significantly increasing their incomes.
https://www.abujapress.com/2019/06/yemi-osinbajos-geep-programme-awarded.html?m=1

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The FG’s enterprise empowerment and financial inclusion programme GEEP (Government Enterprise empowerment programme), has been awarded as the most impactful financial inclusion programme in Africa.

TraderMoni having the widest reach due to the target demography has given loans starting at N10,000 to over 1.8 million beneficiaries. 

So far, thousands of impact stories have been recorded from with beneficiaries narrating how the GEEP has empowered them to expand and sustain their businesses while significantly increasing their incomes.

Have you ever missed out on a major business opportunity due to lack of access to capital? Have you ever had to sell of a precious property at a give-away price just because no financial institution could grant you a favorable loan? These are some of the real choices facing men and women around the world who lack access to capital to invest in their businesses or to help bridge their income until a crop can be harvested. Worst still, millions of hard working petty traders and small-scale artisans have had to continue trading at a micro scale due to low financial input into their businesses. In a country where 75% of the population lives below $2 daily, the Federal Government has made a commitment to elevating poverty at the lowest level of the financial pyramid. 
Trader Moni is a government scheme that gives out progressive microloans to petty traders and artisans with business value of less than N50, 000. This loan is from an initial N10, 000 and goes all the way to N15, 000, N20, 000, N50, 000 and N100, 000 increasing after each repayment. Trader Moni loans are collateral free, hassle free and interest free! No financial institution in the country offers (or can ever offer) such intervention to businesses. Thanks to Trader Moni, so far, over 500, 000 beneficiaries have received a first-level loan of N10, 000 and by December 2018 the numbers will have risen to 2 million traders across the 36 states of Nigeria.
Contrary to the opinions of the rich and middle class citizens that N10, 000 is too little to make significant impact in a business, touching stories of positive impact have been reported by beneficiaries so far.
But some children of hate and perdition will rather support thieves that have stolen their future away and castigate this good program by the FG.

Ijaya123:
And this is what some frustrated wailers called vote buying. Their days of wailing has just started.

Dem go wail for the next four years dem go tire!

Money talks!

Toyota geep or Honda geep

it should be Non-accountable money of the year award.

Nigerians do not value things of this nature like the GEEP program. Its absolutely amazing so much so that the world bank even recognized it and gave money to support it too.

The most impactful financial inclusion programme IN AFRICA.

AMAZING!!!!!

You see; Next Level has just started and Buhari has been receiving awards locally and internationally.
I am happy to identify with Buhari and Osinbajo.
Up up Nigeria!

Down down Wailers!

Jobac:
You see Next Level has just started and Buhari has been receiving awards locally and internationally.
I am happy to identify with Buhari and Osinbajo.

It is always good and refreshing to see that we still have reasonable youths like you around.
With people like you, the future look so bright.
God bless you Jobac.
God bless Nigeria.

Cheers!

some people are sad

Farmers Award

Best VP Nigeria has ever produced.

yemmight:
Best VP Nigeria has ever produced.

You can say that again!

post=79420140:

It is always good and refreshing to see that we still have reasonable youths like you around.
With people like you, the future look so bright.
God bless you Jobac.
God bless Nigeria.

Cheers!

Thanks sir

Jobac:

Thanks sir

You are always welcome sir.
Keep up the positive vibes.
Nigeria will be great again.

Wailers called it votes buying. Whereas, only madam Faka stole over 10 billion naira and wailers are not tired of defending her but for the market women to enjoy just 10k, they were crying

maasoap:
Wailers called it votes buying. Whereas, only madam Faka stole over 10 billion naira and wailers are not tired of defending her but for the market to enjoy just 10k, they were crying

Wailers will wail everyday for the next 4 years, dem go tire.
They are always crying and sad to see any good.news about their country.
And those kinda people, good things can never come their way in life.
No be curse, na fact of life!

But the programme never start fully nah...which one be award again..

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