Heritage
Bank’s partnership with the Central Bank of Nigeria (CBN)in the N3billion Youth
Innovative Entrepreneurship Development Programme (YIEDP) to empower young
graduates has kicked into its second phase with the invitation of over 1500 applicants
for a training workshop this week.
Following the inauguration of the
initiative by the CBN and the subsequent launch of abusiness application portal
by Heritage Bank in March this year, not less than 4000 applications have been received.
Out of this number, 1,547 candidates,
representing the first batch of possible beneficiaries of soft loans for their
business ideas,have been shortlisted to report for a 3-day business development
training workshop, which will be conducted across CBN Enterprise Development
Centres in the six geopolitical zones.
According to a statement from the
Corporate Communications Department of Heritage Bank, the shortlisted
candidates will be contacted via SMS and Email on the details and modalities of
the CBN-EDC training.
After the training workshop,which is
to herald the third phase of the programme, each participant will be required
to write a comprehensive and viable business plan, submit on the application
portal for the Business Review Committee to screen, review and select the
eligible and viable business for YIEDP funding.
Commenting on the welcome
development, the Managing Director of the bank, Mr. Ife Sekibo, restated that the
aim of Heritage Bank being in the forefront of youth empowermentis to
emancipate the latent entrepreneurial spirit in the teeming youths, by
providing adequate and affordable loans to execute their business ideasand, hopefully,
migrate them to successful Small and Medium Enterprises (SMEs), thereby,
providing the mechanism of stimulating growth, reducing unemployment as well as
addressing youth restiveness in the economy.
Sekibo
added that “the bank’s passionate interest in the programmealso arises from the
fact that the initiative aligns very much with the vision of the bank, which is
to help partners create, preserve and transfer wealth across generations.”
The statement from the bank also explained
that applications are still being received for subsequent batches of the
programme and advised interested youths to visit the portal, call 0700-HERITAGE
or send a mail to info@hbng.com
To be eligible for the YIEDP funding,
youths must be within the age bracket of 18 and 35 year old, serving National
Youth Corps members or non-NYSC members with not more than five years post-service.
The apex bank had selected Heritage
Bank as its pilot partner bank to unveil, administer and manage the laudable
project, which will focus on dependable job-creating sectors, such as agricultural
value chain (fish farming, poultry, snail farming), cottage industry, mining
and solid minerals, creative industry (tourism, arts and crafts), and
Information and Communications Technology (ICT).
Before
this latest effort, the bank had launched a N500 million Young Entrepreneurs
and Students (YES) Grant in Lagos. The initiative, which is in partnership with
the Nigerian Youth Professional Forum (NYPF), will, according to the bank,
support students and young entrepreneurs toward socio-economic freedom.
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