OSHEMICS

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.

FEATURES:

  • 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.

BENEFITS:

  • 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