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Nigerian bank launches N1 bn fund for fashion entrepreneur
23
Jun '18
Courtesy: Pexels
Courtesy: Pexels
Nigeria’s Bank of Industry (BoI) has set aside 1 billion Naira (N) to support fashion entrepreneurs involved in production and marketing of clothes, handbags, shoes, jewellery and other fashion accessories. The bank said it will also support initiatives that can improve financial literacy and industrial entrepreneurship development for fashion industry players.

Only companies owned or promoted by Nigerians, and specifically, limited liability companies will be considered, Nigerian news outlets reported citing a notice posted on the bank’s website.

The maximum amount that a person can receive is N30 million. The loan tenure is five years and it is payable from a maximum period of 12 months from the date of loan disbursement. (DS)

Fibre2Fashion News Desk – India


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