BusinessDay

Dangote, MTN, Others Help Narrow the Funding Gap

If you are young and enterprising and an entrepreneur to boot who just happens, like millions of others, to not have the funds the undertaking entails, there’s some hope. It’s competitive, of course, but that’s why you are an entrepreneur.
According to Shekarau Omar (ED, SME) for the Bank of Industry, BOI, access to funds has been boosted considerably by Aliko Dangote and MTN who have placed with the BOI, substantial funds that can be accessed without the roadblocks usually associated with the endeavour.

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According to Mr Omar, who made this known at the virtual-conducted MTN Revv Masterclass, Dangote Foundation has placed aN5bn no interest facility with BOI, while the MTN Fund also domiciled with BOI all of N100million to be disbursed to entrepreneurs who make the requirement cut.
He also talked about the National Economic Sustainability Scheme – (guaranteed off take) – where government pays businesses to produce what government guarantees to buy from them; a sort of grant for those struggling to stay in business.

These all sound too good to be true. But you won’t know unless you try. So visit the BOI website and see how well Mr Omar’s words stand up deep digging entrepreneurial scrutiny
Good luck.

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