By Funmi Falobi

Karis & Eleos Hand of Hope, a Non-governmental organisation, has trained women on entrepreneurship in order to reduce poverty in the society.

The empowerment initiative tagged, “Catalyst for Change 2.0” was carried out in five local government areas of Lagos which include Surulere, Ijora, Agidingbi, Onigbongbo and Alimosho with support from Coca-Cola Foundation. The beneficiaries were trained in textile designing – adire, tie & dye, baking, make up, wig making, gele, shoe and bag making, household items – izal, liquid soap and bleach.

Speaking at the closing ceremony, Executive Director, Karis & Eleos Hand of Hope, Bukola Bamiduro said the initiative was to empower women and girls and to create equal opportunity for them.

“Catalyst for Change is a post Covid intervention to bring women out of poverty and reduce violence so that they can cater for themselves.
200
“At this ceremony, 200 women are benefiting today making the total of 5,133 beneficiaries so far. We will follow them up. I encourage you to be the catalyst and also encourage others to be empowered,” she said.

She said the beneficiaries are expected to train 10 women each in order to see that women move from $1 a day to $10.

While encouraging the trainees to believe in themselves and conquer the world, Nwamaka Onyemelukwe, Director, Public Affairs, Communication and Sustainability, Coca-Cola Nigeria said the essence of the programme was to build sustainable community and reduce rural-urban migration.

“There shall be seed tool kits for the selected beneficiaries to complement their work.
The oday marks 10,000 women have received life skill training and we understand they have impacted other women.

“For us at Coca-cola, the essence is to build sustainable community and reduce rural-urban migration. We need to actually be our change makers and be the change you want. Be at your best, believe in yourself and conquer the world,” she advised.

Oluwakemi Ogunsakin, Corporate Affairs and Sustainability Specialist, Nigerian Bottling Company Ltd charged the trainees to start small, but think big.

Admonishing the beneficiaries to make good use of the opportunity, Head of Department, Women and Poverty Alleviation (WAPA) Alimosho Local Government Area, Mrs. Oluwakemi Omisore enjoined them to “be determined to stand out” in their work.

Baale of Oke Ijora, Chief Tajudeen Igbalaiye also encouraged the beneficiaries to maximize the opportunity.

There was exhibition by the beneficiaries to showcase what they had done.

By sdnonline

In order to boost small and medium enterprises in Nigeria, U.S. International Development Finance Corporation (DFC) CEO Scott Nathan on Monday signed a commitment letter for $280 million in financing for Access Bank Plc in Nigeria alongside Access Bank Managing Directory’s Roosevelt Ogbonna.

The loans will help address the financing gap for small and medium-sized enterprises (SMEs) and advance financial inclusion in Nigeria, including through the bank’s commitment to supporting women-owned and -led businesses.

“DFC’s investment in Access Bank demonstrates U.S. support for private sector-led development in Nigeria and throughout West Africa,” said Nathan. “The $280 million loan from DFC will boost financially inclusion in Nigeria and empower women, bolstering the country’s economic growth.”

“We welcome U.S. International Development Finance Corporation CEO Scott Nathan to Nigeria,” said U.S. Ambassador Mary Beth Leonard. “We look forward to discussing with the public and private sectors how DFC funding can be leveraged to unleash the full economic potential of Nigeria through support to the country’s small and medium-sized businesses, financial sector, and climate change-focused enterprises.”

“Access Bank is extremely pleased to announce this strategic partnership with DFC to support the multitude of businesses across Nigeria who stand to benefit from greater access to finance, especially in an environment that is in need of stronger economic diversification, said Ogbonna. “We look forward to utilizing the partnership with DFC in driving further economic expansion and inclusion in Nigeria, with a strong focus on non-oil sectors and women businesses.”

“We are delighted to have collaborated with Access Bank and DFC on this significant transaction, which will significantly boost SME corporate activity in Nigeria,” said Rizwan Shaikh, Citi EMEA Head of Emerging Markets Corporate Bank. “This is yet another milestone stride for Citi as it executes a focused local-economy development strategy based on solid partnerships with key clients and development agencies.”

DFC financing for Access Bank will provide needed liquidity given the global economic downturn caused by the COVID-19 pandemic. The loan is expected to support at least 4,000 new SME loans in Nigeria. In addition, the loan proceeds will be on-lent across more than a dozen sectors in the Nigerian economy, with specific focus on women-owned SMEs, and on loans with longer tenors, which will provide more flexibility to borrowers.