Rubric : GRADUATE ENTREPRENEURSHIP FUND (GEF) CALL FOR ENTRIES [UPDATED]
link : GRADUATE ENTREPRENEURSHIP FUND (GEF) CALL FOR ENTRIES [UPDATED]
GRADUATE ENTREPRENEURSHIP FUND (GEF) CALL FOR ENTRIES [UPDATED]
The Graduate Entrepreneurship Fund (GEF) is a special N2 billion empowerment programme for serving members of the National Youth Service Corps (NYSC) which was launched on October 5, 2015. This novel scheme, which is a joint initiative of the Bank of Industry (BOI) and the National Youth Service Corps (NYSC), has the following objectives:
- Encourage graduates of tertiary institutions currently undergoing the compulsory one-year NYSC programme, to venture into business and become employers of labour rather than job seekers.
- Address the entrepreneurship capacity gap of the NYSC members who are expected to produce bankable business plans after the three-day capacity building programme.
- Deepen financial inclusion by de-risking the NYSC members and making them eligible for concessional loans ranging between N500,000 and N2 million to be provided by BOI.
- Ensure sustainability of the businesses of the eventual loan beneficiaries through effective monitoring by the NYSC Directorate and BOI.
The GEF Programme comprises the following:
a. Online Business Plan Competition to select the most promising real sector business ideas. Selection/screening of participants shall be done via the GEF online application portal: www.boinigeria.com
b. Three days intensive entrepreneurship capacity building programme.
c. Loan amount of up to N2 million to be provided to each successful participant with bankable business plans within BOI's 35 SME clusters (list at BOI's website www.boi.ng), at an interest rate of 9% per annum, with tenors ranging from 3 - 5 years inclusive of 6 - 12 months moratorium period.
The Capacity Building Programme is scheduled to hold simultaneously at the following venues:
S/N | Geo-Political Zone/State | NYSC Camp Location |
1 | South-South | Former Martins TTC, Issele-Uku, Aniocha North L.G.A, Delta State |
2 | South-East | Umunna, Bende L.G.A, Abia State |
3 | South-West | Aisu College Hospital Road, Ede, Osun State |
4 | North-East | Government College, Jalingo, Taraba State |
5 | North-Central | Mangu, Plateau State |
6 | North-West | Mani Road, Katsina, Katsina State |
7 | Lagos | Iyana Ipaja, Agege, Lagos State |
The Entrepreneurship Capacity Building Programme will take place at the above stated centres between 18th - 20th November, 2015.
Interested serving NYSC members are hereby requested to apply online immediately.
Application closes by midnight of 3rd November, 2015.
UPDATE (13th November 2015): The Bank of Industry has released the names of 1,000 applicants who are to proceed further in the selection process. Kindly check the Guardian Newspaper of Nov 13, 2015 for the full list of shortlisted applicants.
Management,
Bank of Industry
0700 CALL BOI
customercare@boinigeria.com
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