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Tradermoni Is Empowering Small And Micro Businesses In The South-south - Investment - Nairaland

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Tradermoni Is Empowering Small And Micro Businesses In The South-south by GLeesMODEL(m): 5:37pm On Jul 20, 2019
TraderMoni is empowering small and micro businesses in the South-South

The Federal Government through its Government Enterprise and Empowerment Programme (GEEP) is empowering traders, farmers, and businesses across the federation by providing them with collateral-free and interest-free loans. The loans offered by the government are of three types: FarmerMoni, MarketMoni and TraderMoni. While FarmerMoni is targeted at farmers, MarketMoni is for small/medium businesses, and TraderMoni provides loans to micro businesses and artisans. With the TraderMoni scheme, the government provides collateral-free and interest-free loans starting from N10,000, to petty traders and artisans in markets across the nation. The scheme which was publicly activated in 2018 has reached 36 states and the Federal Capital Territory.

During the scheme’s flag-off in Delta state, Vice President Yemi Osinbajo said “TraderMoni” scheme is one of the schemes that was initiated by the President Muhammadu Buhari administration.

The Vice President also stated that the first phase of the ” Trader Moni Scheme” will be targeting two million traders with a view to supporting their businesses as well as reducing poverty and empowering them.

“We’ve looked at the whole commercial landscape of Nigeria. The largest number of people engaged in commerce, are petty traders.

“They are small traders. Table-top traders. Their inventories are usually not more than two thousand naira, three thousand naira, five thousand naira. The president decided that it is better to give these petty traders some money as a loan, ten thousand naira, when they pay back the ten thousand, we give them fifteen thousand naira, when they pay back the fifteen thousand naira, we give them twenty thousand naira and we keep increasing all the way up to hundred thousand naira so long as they pay back.

That is the design of the TraderMoni because we want to enable those at the lowest rung of the ladder and we strongly believe that is a way to empower them.”

Osinbajo expressed confidence that the ‘TraderMoni’ is the right thing for our people. Our people deserve to be helped, they deserve to be supported.”

In the South-South, TraderMoni has and continues to record massive success. This is due to a number of reasons which include the seamless registration, disbursement, and repayment process. Other reasons for the scheme’s wide acceptance includes its repayment period - beneficiaries have six months to pay back their loans - and the opportunity to grow and get access to higher value loans. These are traders and artisans who would otherwise not have qualified for loans from commercial banks due to many factors, including high interest rate and hard to get collaterals. In addition, some of these traders, in a bid to get loans for their businesses, fall prey to swindlers who peddle fraudulent loan schemes only to disappear after collecting cash deposits from them. To these traders, TraderMoni provides the much needed capital they need to grow their business, and at the same time protects them from fraudsters.

It may sound ridiculous to some people that a loan of N10,000 will be sufficient for any business, the beneficiaries of the TraderMoni scheme will tell you otherwise. A good example is a pure water business vendor. It costs about N120 to buy a bag of pure water for resale. Each bag of pure water holds 20 sachets of water, and when sold at N10 per sachet the profit is N80 per bag. This means that a pure water hawker has to sell at least 10 bags of pure water, which costs N1,200, to make a profit of N800. Getting a capital of N10,000 means 83 bags of pure water can be bought, and the profit after sales becomes N6,640. This calculation is very relevant to Jemila Mohammed, a TraderMoni beneficiary and pure water hawker at Edaiken market in Benin, Edo state. Jemila had heard of TraderMoni on TV and radio.

“I first hear am for news for TV and also radio. As dem come register me I was very sure that this money will be given to us because it is from the Federal Government. Before I dey buy one one bag of pure water to sell, but now wey dem don give me dis money, I go buy like 2, 3 bags, now I will be getting more profit than before.”

Mrs. Ohen Felicia, another TraderMoni beneficiary in Edaiken market, getting the loan will help her buy more bags of garri to sell.

“See moneyyyy! God go bless you. God bless Federal. Many dey come we no dey see. Bank. Bank. God go bless una. More blessing ahead in Jesus’ name. As una take give us, wey e be say we no get, God go still provide for una. Make una still dey provide for us. As una give us dis one, make una still dey remember us o in Jesus’ name. Una do well o. God go bless all of una. I go take dis money go market on Friday to buy garri.”

https://twitter.com/Trader_Moni/status/1070382196463190016

Daniel Wilcox is a TraderMoni beneficiary who sells vegetable leaf at the Trans-Amadi slaughter market in Port Harcourt, Rivers state. According to him, he buys leaves for N5,000, sometimes N6,000, but with the loan he will be able to buy more. He said:

“You no say dis one wey we dey now for inside Nigeria, dem don make am easy for us. We get internet, we get TV, we get phone, so me I see am for TV o. If I dey go market, I dey buy leaf N5,000, sometimes N6,000, but the money now don come sharp sharp, I go come increase am, if I dey buy N5,000 I go buy N10,000, if I dey buy N10,000, I go add the money buy 20, N15,000. So I go sell more, dey get more profit. I wan tell federal government thank you very very well. Thank you TraderMoni, una be d baba o.”

Keeping in line with its goal to reach all states of the federation, beneficiaries of the scheme have also emerged in Bayelsa state. Ejiro, a beneficiary at Tombia market, Bayelsa state said she had been looking for money to add to what she sells. On getting the loan she said “they’ve helped me and I’m actually going to use this money well.”


https://www.youtube.com/watch?v=V2AuV1YNa84

For Jennifer Offiong, a petty trader at Ikot Ishie Market, Calabar, Cross River state, getting the TraderMoni loan will eliminate the need for her to buy goods on credit.

“A group of people came to the market and told us that there is something called TraderMoni which the Federal Government wants to give to traders to invest and return after six months. I didn’t believe it, but today I believe them. I thought they would not come back.”

When asked how the loan will help her business, she replied that “it will help a lot, now I can buy things with money, not on credit anymore.”

https://twitter.com/Trader_Moni/status/1057230957273645057

These stories from these traders all point incontrovertibly to the boost TraderMoni, and in particular the GEEP, is giving to small and micro businesses across the nation. What makes this programme more laudable is that the traders have the opportunity to get loans up to N100,000 provided they pay back the previous loans collected. This is enough for any serious trader and artisan to scale their business, grow their income, and ultimately boost the economic outlook of the nation.

At the 63rd session of the UN commission on the status of women, TraderMoni was commended by the international community. At the session which held in New York in March, 2019, Mrs. Toyin Adeniji, the Executive Director of the Micro Enterprise Division of the Bank of Industry, delivered a presentation which showed how GEEP is being deployed and how beneficial it has been for empowering over 56% women across the various GEEP products.

As further commendation of the headway GEEP, and in particular TraderMoni, is making in promoting financial inclusion, the scheme was recently recognized as Africa’s most impactful financial inclusion scheme by the African Bankers’. The award was given to the Bank of Industry at the African Bankers’ Award ceremony which held in June, 2019.


Did You Know?
GEEP has impacted over 2 million small and micro businesses.
Over 56% of beneficiaries are female.
Professions: Artisans, petty traders, farmers and market women.
Over 2600 markets have been activated across the 774 LGAs in the 36 states and the F.C.T.
GEEP has worked with 7000 market cooperatives, farming clusters and field agents.

2 Likes

Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by dikeigbo2(m): 6:12pm On Jul 20, 2019
melecin after death

6 Likes

Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by sparog(m): 6:28pm On Jul 20, 2019
Una weldone grin

But while at it, the government should not forget to create a better economy so that future Nigerians will not need 10k handout grin

5 Likes

Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by wizardus: 6:28pm On Jul 20, 2019
Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by cooldipo(m): 6:29pm On Jul 20, 2019
Hmmmmm
Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by Rowland92(m): 6:30pm On Jul 20, 2019
Trader money......can it help the citizens afford tertiary education abroad for the children of the masses as our polithifcians are doing?

Deceit in the highest order

5 Likes 1 Share

Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by Omoluabi16(m): 6:31pm On Jul 20, 2019
While you're destroying their farms and crops, raping and killing their people you're giving them bloody trader money. What a shame. Osinbajo can't even speak for the south he represents.

5 Likes 1 Share

Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by Clean2016: 6:32pm On Jul 20, 2019
10,000 can actually change some life

2 Likes

Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by Nobody: 6:32pm On Jul 20, 2019
Even politician and their kids can't survive



On 10k . they should shove it up osinbajos azzz

Steal billions and give 10k to 10 people and take pix
Nonsense

1 Like

Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by 9jaArea: 6:33pm On Jul 20, 2019
This is vote buying for Kogi election grin
Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by gaetano: 6:33pm On Jul 20, 2019
Give them their let them manage the recourses themselves. They don't need tradermoni undecided
Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by thesicilian: 6:34pm On Jul 20, 2019
The businesses are so small that nobody can see them offline, only on social media.

5 Likes 1 Share

Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by Jsst: 6:35pm On Jul 20, 2019
TraderMoni is a good scheme if only the government can sustain. You will be amazed how N10,000 interest free loans can do to the poor.

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Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by Bolustical: 6:35pm On Jul 20, 2019
It's only in Nigeria that good policies are politicised, the PDP claimed the initiative is tantamount to vote-buying yet it's positively impacting the people in the PDP dominated region.

I kuku know Biathugs won't admit it even if they are positively impacted. 8red is deep in their bloods.

8 Likes 3 Shares

Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by Bolustical: 6:35pm On Jul 20, 2019
Yes
Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by Edu3Again: 6:37pm On Jul 20, 2019
Nobody can tell when this man is lying

1 Like

Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by jasmine1600: 6:40pm On Jul 20, 2019
Some one took his time to glorify nonsense.
I wonder how much these BMCs are paid.
Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by YorubaEmir: 6:40pm On Jul 20, 2019
shocked
Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by Bighead9: 6:42pm On Jul 20, 2019
Buhari is working. We the people of the East a.k.a the Biafrans, are pleased with Buhari. grin

God bless our President.

4 Likes 1 Share

Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by lordparcel: 6:48pm On Jul 20, 2019
Bighead9:
Buhari is working. We the people of the East a.k.a the Biafrans, are pleased with Buhari. grin

God bless our President.

angry Get Sense

3 Likes

Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by 27Pushing30: 6:49pm On Jul 20, 2019
Rowland92:
Trader money......can it help the citizens afford tertiary education abroad for the children of the masses as our polithifcians are doing?

Deceit in the highest order

Are you educated?
Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by Bighead9: 6:49pm On Jul 20, 2019
lordparcel:


angry Get Sense


E PAIN am well. grin grin

3 Likes

Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by Lugianostar(m): 6:50pm On Jul 20, 2019
These is pure deception personified..!

After the millions of dollars you recieve from Abacha loot and you are giving peanut to market women and they are hailing them.

Who is fooling who

These people don't have shame at all.

Oloshi...!

1 Like

Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by awa(m): 6:51pm On Jul 20, 2019
This is rubbish project. We have gone pass handouts. You can do that up north not in South. Osibanjo should know better and stop this useless conduit of milking Nigerians
Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by gift2xl: 6:57pm On Jul 20, 2019
Nonsense. So when we hear 10k we should jump up abi. Yeayea government.
Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by Olukat(m): 6:57pm On Jul 20, 2019
angry angry 10k in the South South?
This madness has to stop...fraudsters
Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by emilas1979(m): 7:02pm On Jul 20, 2019
GLeesMODEL:
TraderMoni is empowering small and micro businesses in the South-South

The Federal Government through its Government Enterprise and Empowerment Programme (GEEP) is empowering traders, farmers, and businesses across the federation by providing them with collateral-free and interest-free loans. The loans offered by the government are of three types: FarmerMoni, MarketMoni and TraderMoni. While FarmerMoni is targeted at farmers, MarketMoni is for small/medium businesses, and TraderMoni provides loans to micro businesses and artisans. With the TraderMoni scheme, the government provides collateral-free and interest-free loans starting from N10,000, to petty traders and artisans in markets across the nation. The scheme which was publicly activated in 2018 has reached 36 states and the Federal Capital Territory.

During the scheme’s flag-off in Delta state, Vice President Yemi Osinbajo said “TraderMoni” scheme is one of the schemes that was initiated by the President Muhammadu Buhari administration.

The Vice President also stated that the first phase of the ” Trader Moni Scheme” will be targeting two million traders with a view to supporting their businesses as well as reducing poverty and empowering them.

“We’ve looked at the whole commercial landscape of Nigeria. The largest number of people engaged in commerce, are petty traders.

“They are small traders. Table-top traders. Their inventories are usually not more than two thousand naira, three thousand naira, five thousand naira. The president decided that it is better to give these petty traders some money as a loan, ten thousand naira, when they pay back the ten thousand, we give them fifteen thousand naira, when they pay back the fifteen thousand naira, we give them twenty thousand naira and we keep increasing all the way up to hundred thousand naira so long as they pay back.

That is the design of the TraderMoni because we want to enable those at the lowest rung of the ladder and we strongly believe that is a way to empower them.”

Osinbajo expressed confidence that the ‘TraderMoni’ is the right thing for our people. Our people deserve to be helped, they deserve to be supported.”

In the South-South, TraderMoni has and continues to record massive success. This is due to a number of reasons which include the seamless registration, disbursement, and repayment process. Other reasons for the scheme’s wide acceptance includes its repayment period - beneficiaries have six months to pay back their loans - and the opportunity to grow and get access to higher value loans. These are traders and artisans who would otherwise not have qualified for loans from commercial banks due to many factors, including high interest rate and hard to get collaterals. In addition, some of these traders, in a bid to get loans for their businesses, fall prey to swindlers who peddle fraudulent loan schemes only to disappear after collecting cash deposits from them. To these traders, TraderMoni provides the much needed capital they need to grow their business, and at the same time protects them from fraudsters.

It may sound ridiculous to some people that a loan of N10,000 will be sufficient for any business, the beneficiaries of the TraderMoni scheme will tell you otherwise. A good example is a pure water business vendor. It costs about N120 to buy a bag of pure water for resale. Each bag of pure water holds 20 sachets of water, and when sold at N10 per sachet the profit is N80 per bag. This means that a pure water hawker has to sell at least 10 bags of pure water, which costs N1,200, to make a profit of N800. Getting a capital of N10,000 means 83 bags of pure water can be bought, and the profit after sales becomes N6,640. This calculation is very relevant to Jemila Mohammed, a TraderMoni beneficiary and pure water hawker at Edaiken market in Benin, Edo state. Jemila had heard of TraderMoni on TV and radio.

“I first hear am for news for TV and also radio. As dem come register me I was very sure that this money will be given to us because it is from the Federal Government. Before I dey buy one one bag of pure water to sell, but now wey dem don give me dis money, I go buy like 2, 3 bags, now I will be getting more profit than before.”

Mrs. Ohen Felicia, another TraderMoni beneficiary in Edaiken market, getting the loan will help her buy more bags of garri to sell.

“See moneyyyy! God go bless you. God bless Federal. Many dey come we no dey see. Bank. Bank. God go bless una. More blessing ahead in Jesus’ name. As una take give us, wey e be say we no get, God go still provide for una. Make una still dey provide for us. As una give us dis one, make una still dey remember us o in Jesus’ name. Una do well o. God go bless all of una. I go take dis money go market on Friday to buy garri.”

https://twitter.com/Trader_Moni/status/1070382196463190016

Daniel Wilcox is a TraderMoni beneficiary who sells vegetable leaf at the Trans-Amadi slaughter market in Port Harcourt, Rivers state. According to him, he buys leaves for N5,000, sometimes N6,000, but with the loan he will be able to buy more. He said:

“You no say dis one wey we dey now for inside Nigeria, dem don make am easy for us. We get internet, we get TV, we get phone, so me I see am for TV o. If I dey go market, I dey buy leaf N5,000, sometimes N6,000, but the money now don come sharp sharp, I go come increase am, if I dey buy N5,000 I go buy N10,000, if I dey buy N10,000, I go add the money buy 20, N15,000. So I go sell more, dey get more profit. I wan tell federal government thank you very very well. Thank you TraderMoni, una be d baba o.”

Keeping in line with its goal to reach all states of the federation, beneficiaries of the scheme have also emerged in Bayelsa state. Ejiro, a beneficiary at Tombia market, Bayelsa state said she had been looking for money to add to what she sells. On getting the loan she said “they’ve helped me and I’m actually going to use this money well.”


https://www.youtube.com/watch?v=V2AuV1YNa84

For Jennifer Offiong, a petty trader at Ikot Ishie Market, Calabar, Cross River state, getting the TraderMoni loan will eliminate the need for her to buy goods on credit.

“A group of people came to the market and told us that there is something called TraderMoni which the Federal Government wants to give to traders to invest and return after six months. I didn’t believe it, but today I believe them. I thought they would not come back.”

When asked how the loan will help her business, she replied that “it will help a lot, now I can buy things with money, not on credit anymore.”

https://twitter.com/Trader_Moni/status/1057230957273645057

These stories from these traders all point incontrovertibly to the boost TraderMoni, and in particular the GEEP, is giving to small and micro businesses across the nation. What makes this programme more laudable is that the traders have the opportunity to get loans up to N100,000 provided they pay back the previous loans collected. This is enough for any serious trader and artisan to scale their business, grow their income, and ultimately boost the economic outlook of the nation.

At the 63rd session of the UN commission on the status of women, TraderMoni was commended by the international community. At the session which held in New York in March, 2019, Mrs. Toyin Adeniji, the Executive Director of the Micro Enterprise Division of the Bank of Industry, delivered a presentation which showed how GEEP is being deployed and how beneficial it has been for empowering over 56% women across the various GEEP products.

As further commendation of the headway GEEP, and in particular TraderMoni, is making in promoting financial inclusion, the scheme was recently recognized as Africa’s most impactful financial inclusion scheme by the African Bankers’. The award was given to the Bank of Industry at the African Bankers’ Award ceremony which held in June, 2019.


Did You Know?
GEEP has impacted over 2 million small and micro businesses.
Over 56% of beneficiaries are female.
Professions: Artisans, petty traders, farmers and market women.
Over 2600 markets have been activated across the 774 LGAs in the 36 states and the F.C.T.
GEEP has worked with 7000 market cooperatives, farming clusters and field agents.

Scam
Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by Dewisedick: 7:41pm On Jul 20, 2019
Lies from big liars
Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by Akolawole(m): 7:45pm On Jul 20, 2019
Rowland92:
Trader money......can it help the citizens afford tertiary education abroad for the children of the masses as our polithifcians are doing?

Deceit in the highest order

Comforts are different all over the world.

Its not compulsory for everyone to study abroad. It isn't.

Are some people benefitting from tradermoni? Yes. Good luck to them.
Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by tigerclaws: 7:51pm On Jul 20, 2019
Re: Tradermoni Is Empowering Small And Micro Businesses In The South-south by tigerclaws: 7:51pm On Jul 20, 2019
Bolustical:
It's only in Nigeria that good policies are politicised, the PDP claimed the initiative is tantamount to vote-buying yet it's positively impacting the people in the PDP dominated region.

I kuku know Biathugs won't admit it even if they are positively impacted. 8red is deep in their bloods.

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