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NEXIM Unveils N10bn Fund For Women, Youth Businesses

NEXIM Unveils N10bn Fund For Women, Youth Businesses

The Nigerian Export-Import (NEXIM) Bank has launched a N10 billion fund to support export-oriented enterprises managed by women and youths.

The fund called Women and Youth Export Facility (WAYEF), according to NEXIM in a statement, was created to boost the non-oil exports.

The facility would be disbursed to small and medium entrepreneurs at a  5 per cent interest rate in the first year of the programme and at  9 per cent interest rate in the subsequent years.

“The WAYEF aims to increase funding to indigenous women and youths towards broadening the export basket and facilitating regional industrialisation for value-addition,” the statement read in part.

“The aim is also to support women and youths towards upscaling and expanding export capacities.

“The eligibility criteria include duly-registered export-oriented-SMEs in Nigeria with women and youths as promoters, a structured organisation with the mandate to empower women and youths along the export value chain or a registered export-oriented cooperative society.”

About Author

Ife Ogunfuwa is an award-winning reporter who is versed in reporting business and economy, technology, gadgets reviews, telecoms, tax, and business policy review, among others. She loves telling stories behind the numbers. She has professional certifications in business and financial reporting. You can reach her via – [email protected]

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