Olori Janet Afolabi, the Queen of Apomu Kingdom in Osun State, has given a fresh set of market women free interest loan.
Ir was given to them on June 2, 2023 at Alapomu Palace Hall, Apomu, headquarters of Isokan Local Government Area.
The money will be paid back over five months.
Addressing the women, Olori Afolabi said they should use the money for the purpose for which it was given.
She said the money is meant to help them expand their petty businesses or start new ones.
The 50 women were randomly selected and shortlisted by Women Leaders in the community, led by the highest female Chief, Christiana Akinlabu, the Otun Iyalode of Apomu Kingdom.
Olori Afolabi said empowering the women is crucial for ending hunger and poverty in the rural communities.
She said: “Poverty eradication is key to helping women escape poverty.
“Many of the world’s poorest people are women.
“Empowering them is essential not just for rural but national development.”
The free interest loan was initiated by Olori Afolabi in 2020 because after the COVID-19 lockdown many women were unable to resume their trading businesses.
Most of them had spent their capital.
Some of them made efforts to borrow money from families and friends but it was very difficult.
To help these women start again, Olori Afolabi said: “I came up with the No Collateral, No Interest Loan as my flagship empowerment project.”
