To increase social intervention across different market segments, the Vice President, Prof. Yemi Osinbajo, recently has unveiled the second phase of the TraderMoni and MarketMoni in Awka and Onitsha, Anambra state.
The schemes were launched in both Eke Awka in Awka South local government area and Ochanja Market in Onitsha, as beneficiaries acknowledged the receipt of funds ranging from N10,000 for the TraderMoni and N50,000 for the MarketMoni.
Executive Director, Micro Enterprises of the Bank of Industry, Mrs Toyin Adeniji, was quoted in a statement to have said the unveiling of the second phase was to sustain continued efforts to meet the primary objective of, “broadening financial inclusion, and increasing access to affordable credit for traders and small business owners.”
She said: “This phase will target at least 2,000 new TraderMoni and MarketMoni beneficiaries. This is in addition to the over 30,000 TraderMoni and 4,000 plus MarketMoni beneficiaries that received the GEEP loans in the first phase, between 2017 and 2018.
“Prior to this official market activation, 200 new MarketMoni beneficiaries have been recorded in the state. The second phase will also target traders for the N15,000 Next Level TraderMoni loans for traders who have repaid the first N10,000 loan.”
According to the statement, some of the beneficiaries said the money would help them to buy more wares and also enhance their profit margin, thereby improving the standard of living of their families.
One of the beneficiaries of TraderMoni, Mrs Ujunwa Okonkwo, who hawks detergents in a wheel barrow in Eke Awka, was quoted to said: “I have been doing this business for three years now. My wares would have grown bigger than this; it is from here that I feed my two children.
“Now that the federal government has helped me with money, I am sure that I can do better. I am happy that people like us can still be remembered by the federal government.”
Osinbajo arrived in the company of the state governor, Chief Willie Obiano and Adeniji, and moved round the market to interact with the beneficiaries.