Gobir Organization replicates Trader Moni in Kwara, earmarks 250 Million for SMEs

A non political Foundation, Gobir Organization has budgeted over 250 million naira to empower traders in Kwara State.

The informant247 gathered that the ongoing release of zero- collateral and interest-free loans to multiple of traders in Kwara, will cut across all the 16 Local government areas of the State within an initial period of four years.

While speaking in Ilorin on Monday, the Organization’s Director of Strategy and Communications Mr. Charles Olufemi Folayan revealed that the organisation is committed to the rejuvenation of the state’s moribund economic system through aggressive interventions in business development and other support programs for youth and women.

He remarked that the loan disbursement programme named “Gobir Funds” took off in November 2019, is an improvement on the model of the Federal Government Social Investment Scheme of the popularly known as “Trader Moni”. The organization considers this as a critical means of empowering petty traders and helping to build the capacities of small scale business owners, especially those at the grassroot level.

Mr. Folayan, however noted that aside the loan, the organization is planning to train small scale business enterprises on the rudiments of business development. Beneficiaries of the project have been provided with the opportunity to recieve critical tranings in financial literacy, entrepreneurship, cooperative and Banking practices amongst other crucial trainings which are critical to business scale-up”

The director disclosed that the economic initiative was spurred by the resolve and commitment of founder of the organization, Alhaji Waziri Yakubu Gobir to be a key player in the economic development and poverty alleviation in the State.

He further expressed his pleasure at the positive impact the programme has recorded on the business of beneficiaries, noting that beneficiaries show strict compliance in the repayment of the loan.

“For us, the beneficiaries responses further lends credence to our determination to roll out more initiatives which are focused on bringing succour to the people of Kwara.” he added