Nigeria’s Access Bank Plc said it’s collaborating with the Ministry of Humanitarian Affairs, Disaster Management and Social Development to roll out the Government Enterprise and Empowerment Programme GEEP 2.0 in all the 36 states and the Federal Capital Territory.
The lender said successful beneficiaries of GEEP 2.0 shall receive congratulatory and sensitization text messages in the coming days informing them of their qualification and re-emphasis that the empowerment programme is a loan and not a grant.
“All qualified beneficiaries will soon receive their disbursement alerts after being fully enumerated. We wish to remind all qualified beneficiaries that this is a loan payable within nine months without interest, the bank said.
The Ministry is planning a rollout of the programme nationwide, after which an enumeration exercise to capture beneficiaries’ biodata, will take place.
According to the Group Head, Emerging Businesses, Access Bank Plc, Ayodele Olojede, “The bank remains committed to the growth and development of the micro, small and medium scale enterprises (MSMEs) as we understand their contribution to the economy in terms of GDP and Employment.
“Our partnership with the Federal government to roll out the Government Enterprise and Empowerment business Programme GEEP 2.0 in all the 36 states and the Federal Capital Territory is part of our commitment to address the primary factor small business owners face.
“In rolling out the GEEP 2.0 loans, special accounts will be opened for all beneficiaries for the disbursement of the loan and all beneficiaries are expected to complete physical enumeration at their various local government and an account opening form of Access Bank prior to disbursement.
“The GEEP 2.0 is a loan scheme designed by the Federal Government to provide financial inclusion and give credit access to poor and vulnerable individuals, including Persons With disabilities and persons at the bottom of the economic pyramid who are engaged in small scale commercial activities under its three flagship schemes: MarketMoni, TraderMoni and FarmerMoni.”