The Lagos State Employment Trust Fund (LSETF) has entered into partnership with Mamamoni Limited to empower poor rural and urban women with free vocational skills and mobile loans.
This is in line with LSETF’s access to finance programme which provides funding for Micro, Small and Medium Enterprises (MSMEs), as well as capacity building to boost the businesses.
The signing of the Memorandum of Understanding (MoU) on the partnership was followed by a visit to Mamamoni’s newly opened innovation hub in Amuwo Odofin, Lagos, where the skills acquisition training for rural women will be held.
A statement by LSETF said under the partnership, tagged ‘Mamamoni Women Empowerment Project’, LSETF will provide ₦5 million to train and provide funding to 100 women to enable them become distributors of Mamamoni’s Levantar Liquid Dish Wash, a fast selling locally produced consumer good in the local market.
The beneficiaries of the initiative will get funding of ₦50,000 each with a loan tenure of 12 months. To qualify for the loan, the applicant must have gone through the skill acquisition training and certification organized by Mamamoni Limited.
Commenting, the Acting Executive Secretary of the LSETF, Teju Abisoye, said: “We are pleased to enter into this agreement with Mamamoni as it aligns with our mandate for creating opportunities for micro-enterprises to create wealth within the Lagos local economy.
“In targeting women, we connect to the well-researched philosophy that when you empower women, you empower the community.”
In her remarks, the founder, Mamamoni Limited, Mrs. Nkem Okocha, said: “I am very proud to be collaborating with the LSETF, renowned for their unbiased, open and accessible programmes.
“We are determined to lift more women from the poverty lines, engineer economic growth and societal development. This partnership with LSETF allows us the opportunity as a brand to fulfil this objective.”