Kwara rolls out at interest-free loans for young entrepreneurs
Oluseyi Dasilva, Ilorin
AbdulRahman AbdulRazaq of Kwara state government has rolled out an entrepreneurial plan to support business minded young persons in the state with huge interest-free loans, to invest in and raise a new generation of successful young men and women.
One of Nigeria’s biggest investment in businesses owned by young people, Kwapreneur is open to Kwarans with viable and scalable business ideas and are not more than 35 years old.
It is being coordinated by the Kwara State Social Investment Programme (KWASSIP) Office, according to a statement by the KWASSIP Ag. General Manager Mohammed Brimah.
The first phase of the programme targets at least 300 youngsters with viable business proposals, the statement said, adding that at least 1,200 young people will benefit from the initiative over the next four years.
Brimah said in the statement that Kwapreneur has been designed to harness the potentials of enterprising youths and raise a new generation of leaders through sustainable empowerment, thereby spurring socio-economic growth and job creation in the state.
“Young people are to the nation what the heart is to the body. They drive and make it beat. Kwara under this administration believes in the talent and industry of her youths. To hasten economic development, we need them to become employers of labour. This is why we are to support young people with visionary ideas with interest- free loans for their businesses,” the statement quoted Brimah as saying.”
Brimah said young people involved in high-potential business areas like agro-processing, logistics, transportation, among others, should apply.
He added: “No Kwaran covered in this age bracket is excluded. All entries will be judged by experts and professionals on their economic value. The most viable ideas will find their way through. We have put in place a free, fair and credible process to make it work. It is a non-interest loan. The icing on the cake is that beneficiaries have three months moratorium on the loans before they start refunding in tranche. Kwapreneur is a good opportunity to move from unengaged to an employer of labour and we trust that the youths will make the best of it.