Bank of Industry Graduate Entrepreneurship Fund (GEF) Programme 2018 for National Youth Service Corps (NYSC) Members. - Business Plans, Funding, and Opportunities - Utibe Etim

Bank of Industry Graduate Entrepreneurship Fund (GEF) Programme 2018 for National Youth Service Corps (NYSC) Members.

The Graduate Entrepreneurship Fund (GEF) programme is a special scheme to encourage and promote entrepreneurship among serving members of the National Youth Service Corps (NYSC). The scheme provides loans of up to N2.0 million at 0% interest rate to support enterprises and potentially viable business ideas.

This novel scheme, which is a joint initiative of the Bank of Industry (BOI) and the National Youth Service Corps (NYSC), has the following objectives:

  • Encourage graduates of tertiary institutions currently undergoing the compulsory one-year NYSC programme, to venture into business and become employers of labour rather than job seekers.
  • Address the entrepreneurship capacity gap of the NYSC members who are expected to produce bankable business plans after the three-day capacity building programme.
  • Deepen financial inclusion by de-risking the NYSC members and making them eligible for concessional loans ranging between N500,000 and N2 million to be provided by BOI.
  • Ensure sustainability of the businesses of the eventual loan beneficiaries through effective monitoring by the NYSC Directorate and BOI.

The GEF programme comprises the following:

  1. Online Business Plan Competition to select the most promising real sector business ideas. Selection/screening of participants shall be done via the GEF online application portal: boi.ng/gef
  2. Three days intensive entrepreneurship capacity building programme.
  3. Loan amounts of up to N2.0 million to be provided to each successful participant with bankable business plans within BOIโ€™s 35 SME clusters (list at BOIโ€™s website: boi.ng), at an interest rate of 9% per annum, with tenors ranging from 3-5 years inclusive of 6 โ€“ 12 months moratorium period.

The Capacity Building Programme is scheduled to hold simultaneously at the following venues:

S/N Geo-Political Zone NYSC Camp Location
1 South-South Former Martins TTC, Issele-Uku, Aniocha North L.G.A, Delta State.
2 South-East Umunna, Bende L.G.A, Abia State.
3 South-West Aisu College Hospital Road, Ede North L.G.A, Ede, Osun State.
4 North-East Government College, Jalingo, Jalingo L.G.A, Taraba State.
5 North-Central Mangu, Mangu L.G.A, Plateau State.
6 North-West Mani Road, Katsina, Katsina State.
7 Lagos Iyana Ipaja, Agege, Lagos State.

 

How to apply:

If you are interested in applying for this opportunities, kindly visit the link below

Click here to apply for the Graduate Entre preneurship Fund (GEF) Programme 2018

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