GOVERNMENT ENTERPRISE AND EMPOWERMENT PROGRAM (GEEP)
The Government Enterprise & Empowerment Programme (GEEP) was launched in 2016 with the aim to offer interest and collateral free credit to millions of Micro SMEs (MSMEs) operating at the bottom of the Nigerian economic pyramid. The program has leveraged on 3 loan products, so far, to support small to medium sized businesses: MarketMoni, TraderMoni and FarmerMoni..
MarketMoni was the first loan product launched by GEEP. It is a 6-month interest-free loan, starting from N50,000 ($139) for small businesses under the auspices of their cooperative societies or market associations. This loan product has helped small business owners scale their business, while offering them a comfortable repayment period.
FarmerMoni is a loan product targeted at the smallholder farmers in the agriculture sector. This product is a 6-9 months interest-free loan, starting from N250,000 ($694) for farmers within farming clusters. The loan is tailored to suit the peculiarities of the different planting seasons and farming requirements. This product also includes a guaranteed off-taker who commits to purchasing the farming producer from beneficiaries of this loan for the purpose of local food production.
TESTIMONIALSFarmerMoni - Rice & Vegetable Farmer
TraderMoni is the entry level loan product for GEEP. It is a 6 month interest-free loan, starting from N10,000 ($28) aimed at petty traders and artisans. This loan is targeted at the everyday market trader, who makes a living from what they sell on a daily basis and whose product inventory ranges from N2,000 - N5,000. This loan immediately provides them with a structured way to increase their inventory, while repaying the loan. Most beneficiaries of this loan product are first-time receivers of a loan from a formal financial lender.