OGIGE SELF HELP MICRO CREDIT SCHEME
This is for the petty traders who belong to group/associations based on product line. Primary target audience is rural women, though men are not excluded.
- Each member opens an individual account to access micro loans of not more than fifty thousand naira.
- The group opens association account for weekly contribution by all members
- This group account sureties the loan collected by individual members
- Weekly contribution is compulsory based on agreed amount.
- The duration of the loan will be decided each time a beneficiary is in need of a loan.
- Amount can be increased for groups that performed well.
- It enriches the active poor
- COT free account
- Brings stability to the family and community
- Educates the poor on banking culture
- Brings grassroot development
- Prizes to be won by groups that perform
- Free technical support on investment possibilities