FADAMA bank targets women, youths for empowerment – Coordinator

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Jos – The Fadama lll Project Coordinator in Plateau, Mr Gideon Dandam, says that the main target of the Fadama Farmers Micro Finance Bank is to empower women and youths in the society.
Dandam made the disclosure in an interview the News Agency of Nigeria (NAN) in Jos on Monday.
According to him, the bank aims to assist the poorest of the poor in the society.
NAN that Fadama Bank, which commenced operations in December 2015, is the first of its kind to be established in Nigeria and second to in Africa.
According to the Coordinator, the bank already has 8,000 depositors and has disbursed over N23 million as loan to farmers and petty traders at an interest rate of 3.5 per cent.
“This bank was established using over N60 million saved by our farmers because we encourage them to imbibe the culture of saving.
“Our main target is to the economic fortunes of the poor in our society, especially women and youths.
“We are particularly targeting women and youths because we believe women by nature are entrepreneurs while the youths are agile and venture into any business that can fetch them substantial income.
“We have over 8,000 customers at the moment, though it is a bank owned by farmers, anybody can operate a bank account with us.
“People have started benefiting because we have given out loans to so many with a minimal interest rate of 3.5 per cent,’’ he said.
Dandam said that the bank would continue to offer banking solutions to cater for the needs of Plateau citizens so as to boost their individual income and the economy of the state. (NAN)