Thread by @toluogunlesi

#Thread

Government Enterprise and Empowerment Programme (GEEP) is an critical tool for financially empowering micro businesses, (artisans, market women) and petty traders at the base of the pyramid.

GEEP (comprising @MarketMoni, #FarmerMoni, @Trader_Moni) has disbursed N27.4 billion in interest-free loans from N10,000 to N350,000 to more than 1.1 million market women/men, artisans, farmers, petty traders across 36 States & FCT. Under GEEP, 56% of the loans have gone to women

Loans disbursed (MarketMoni) – more than 300,000
-Loans disbursed (FarmerMoni) – more than 5,000
-Loans disbursed (TraderMoni) – more than 800,000 so far (target is 2 million by end of 2018)

#FarmerMoni loans start at N300,000 and are for farmers in farming clusters, via farm aggregators. A BVN, farming cluster cooperative, cluster management, and end-to-end process up to off-take agreements are required for FarmerMoni. Loans disbursed to the farmers’ bank accounts.

.@MarketMoni is a 6-month interest-free credit of between N50,000 - N300,000 for small Biz - medium-scale traders, market women, artisans, youth in market associations - under the auspices of their cooperative societies. The coop societies help ensure that these sums are returned

@Trader_Moni is a microcredit loan for petty traders, offering N10,000 collateral-free microloans for their businesses.

.@Trader_Moni is designed to meet the need of the larger population of Nigerian petty traders at the bottom of the pyramid who do not meet the more stringent criteria of BVN, bank accounts, market associations, etc required for bigger @MarketMoni loans.

Qualified petty traders start at N10,000 disbursed to wallets on their mobile phones. Beneficiaries automatically qualify for higher facilities of 15,000, N20,000, N50,000, and N100,000 successively, as long as they repay each within the stipulated time period of six months.

The @MBuhari Administration is delivering @Trader_Moni to take financial inclusion down to the grassroots, the bottom of the pyramids, considering the daily contribution of millions of petty traders to economic development.