Home Business & Economy LSETF trains over 1,300 beneficiaries

LSETF trains over 1,300 beneficiaries

COMFORT EKELEME

In fulfillment of its mandate to provide business development support to its beneficiaries, the Lagos State Employment Trust Fund (LSETF) is organizing training workshops for over 1,300 of its beneficiaries during the month of May.

These workshops are organized by the LSETF using various training and skill certification partners, who pass on important skills and knowledge to beneficiaries, that aid the success of their businesses.

Speaking about the aim of the workshops, the LSETF’s Executive Secretary, Akin Oyebode, said “business development support is a crucial part of what we do. It is not enough to just give individuals funds and have them pay back, but also to instill in them the requisite skills to enable them manage and grow their businesses.

“The better they are as entrepreneurs, the greater the chances that their businesses will succeed, be sustainable and create employment opportunities in Lagos State. We are grateful to our partners for their efforts in joining us on this journey to supporting businesses for inclusive growth,” he said.

The LSETF is poised to provide support to at least 100,000 MSMEs; create at least 300,000 direct and up to 600,000 indirect jobs by 2019.

The LSETF is also mandated to provide training and job placements for the unemployed; mentorship for business owners and improvement of the policy environment to ensure a conducive operational environment for small businesses in the state.

LSETF is a Lagos State Government Initiative created as part of its commitment to boost the Lagos economy through job creation, leverage and access to finance for Micro, Small, Medium Enterprise (MSMEs) operating in the State.

LSETFs’ mandate also includes provision of training for the unemployed and job placements for the employable; mentorship and support for SME owners and improvement of the policy environment to ensure a conducive operational environment for small businesses in the state.

Through this scheme promoters and owners of micro-business can get a loan of up to N500,000 at 5per cent interest rate per annum, while small-businesses can get a loan of up to N5,000,000 at 5 per cent interest rate per annum. Likewise, youth who have received certified vocational training can get a loan of up to N250,000 to start their own business at 5per cent interest rate.

 

For a better society

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