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Empowerment -Micro Credit Scheme at Onigbongbo

Empowerment -Micro Credit Scheme at Onigbongbo

Empowerment -Micro Credit Scheme at Onigbongbo

Rotary Club of Onigbonbo planned to empower members of Onibongbo community with the total sum of One Million Naira ($3000.00) through micro-credit Scheme. This Scheme is managed by YCT Microfinance Bank (MFB), Yabatech, Yaba, Lagos. This is to support entrepreneurship by helping them build a business which can create income and grow. This will alleviate poverty in Onigbonbo Community.

Onigbongbo community is dominated mostly by people living below the United Nation recommended standard of living. The indigenous are petty traders, artisans and civil servants. The introduction of micro-credit to the community is a great relief to the businesses. At the moment financial institutions are lending at a very high interest rate.

For sustainability of this project we have not left anything to chance, we have ensured that due diligence and risk mitigation are adequately assessed. The screening exercise was done in conjunction with the disbursing MFB. Our partner is Petrocam Services Limited.

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