The Ikechukwu Ezeugwu foundation has rolled out a ten million naira (N10 million) micro-credit and grants for over 60 individuals and business groups to enable them improve on their various trades and investments.
The foundation had in the past 12 years trained manpower in different professions through awards of scholarship for higher institutions of learning where it has produced categories of human resources including medical doctors, Engineers, Nurses and other specialized manpower training.
Introducing the micro-credits scheme at Igugu, Udenu local government area of Enugu state, promoter of the foundation, Dr. Ikechukwu Ezeugwu said that it was a liberation scheme from where small business concerns could be uplifted. He noted that himself had to borrow to start business in Lagos, adding that God can only help those who help themselves.
Ezeugwu unveiled the beneficiaries as petty business men and women who were carefully selected and asked the beneficiaries to extend similar help to others in their own little ways.
Some of the business groups that benefited in the interest-free credits include the Igugu community Trade and Investment committee, Nsukka produce Association, Orba produce buyers Association, Ozioko council of elders and Oganiru Age Grade Association.
Ezeugwu stated that the scheme was a further extension of hands to the less privileged and the needy in the society, having done much in education endowments.
“We’ve been on for 12 years and this time around we decided to go beyond scholarship and mentorship to helping business startups. It’s not only about giving them the money because we have individuals that will be monitoring them to guide them and watch them grow.
“We decided that not only would we be giving them fish, but we would equally teach them how to catch fish. We decided on a humble beginning of ten million naira, those who got fifty thousand naira each just to help them start table business, a good number got one hundred thousand, some people got five hundred thousand and groups got one million naira each.
“For groups such as the cashew producers’ marketers association, it’s like a revolving loan, they use it for one year interest-free and bring it back, because you will monitor them, if they deserve to be given additional money on top of the one million naira the foundation will look into it,” Ezeugwu said.
He urged the beneficiaries to be cautious and conduct their businesses with some measure of integrity and fear of God, stating that the references they will get as feedback will take them to higher marks they won’t expect.
