By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Heritage Bank Limited said on Friday it’s supporting entrepreneurship and youth development and has earmarked a N200 million loan facility for young graduates willing to advance their dreams in small scale businesses.
The facility, according to the bank is a revolving soft loan which comes with a financial and management advisory to support National Youth Service Corps (NYSC) members who upon passing out demonstrates serious intentions of starting up small scale businesses, according to a statement by Sola Longe-Okenimkpe, group head, Corporate Communications of the bank.
Ola Olabinjo, executive director (ED) at Heritage Bank on behalf of Ifie Sekibo, managing director (MD) at the Orientation Camp in Lagos commended the service members for their commitment to youth development.
He says Nigeria is facing huge challenges and the NYSC members hold the key to the solutions. “As you venture out into the workforce or enterprise, you owe yourself and future generations to be the catalyst for change,” Olabinjo noted.
According to the ED, the strategic thrust of Heritage Bank is hinged on the future, which translates into creating; preserving and transferring wealth across generations which he explained informed the decision by the bank to set up a department for the youth in the bank.
Olabinjo affirmed the idea of the loan became necessary because small businesses form the engine of the economy. “With a business, you can bequeath a legacy that will outlive you.” he added.
Recently, the bank re-affirmed its business principle to empower more Micro Small and Medium Enterprises (MSMEs) in Nigeria. Sekibo, MD of Heritage stated that part of the bank’s commitment to empower SMEs was the launch of an SME Clinic that will be geared towards helping small businesses address challenges associated with setting up businesses as well as mitigating the effects of certain business decisions by such entrepreneurs.
Ibironke Shodipe, permanent secretary, Inter-Governmental Relations, who represented Oluranti Adebule, the Lagos State deputy governor at the occasion, commended the Corp members for their service to their fatherland, stating that their role during the last general elections was quite exemplary. He also commended Heritage Bank for its initiative in honouring the entrepreneurial skill of young graduates.
The Bank also gave a cash prize to Onwura Onyinye Chima for outstanding performance during the service year that won her the Lagos State NYSC Director’s Award.
Chima, 23, a graduate of Microbiology from Federal Polythecnic, Nekede was posted to Army Children School, Ojo, Lagos for her primary assignment. While in the school, Cyril Akhanehme, the Lagos State NYSC coordinator said Chima was dedicated, hardworking and diligent.
