| Bank LAPO Microfinance Bank |
| Client Nigerian youth |
| Location Nigeria |
Nigeria has a very vibrant young population. A considerable number of young people are out of school due to parents’ inability to sponsor their education. Others also find it hard to cope with the rigors of formal education. LAPO MfB has introduced a programme to help youth improve their financial and life situations while enhancing their education.
The programme called Skills Acquisition Scheme, helps deepen job creation in the 28 states of LAPO MfB’s operation by training participants in entrepreneurial skills and enabling them to become employers of labour. The training covers: ICT, fashion design, hairdressing, catering, event management, interior decoration, plumbing, and cosmetology etc. The objective of the programme is to help participants build self-esteem and confidence at a critical time of life, when they can assert their financial confidence and be active players in their community. Participants are required to make several commitments including staying in the programme for at least six months, after which they can apply for loans from the bank.
The programme is a partnership with the Nigerian Directorate of Employment (NDE) and National Business and Technical Examinations Board (NABTEB), which ensures formal certification at the conclusion of the training. The scheme has proven to be a much needed intervention and LAPO is proud to work with the government to enhance financial independence. The bank also welcomes the opportunity that the skills acquisition programme offers to help demonstrate social impact in the communities they serve.
According to Managing Director, LAPO MfB, Dr. Godwin Ehigiamusoe ‘It is imperative for us in LAPO that we give youths the stepping stone to move on because the economic development and growth of a country depends on small and medium enterprises. We are interested in getting these people out of the streets and getting them empowered.’
