In an exciting move to support small businesses and encourage self-reliance, the Rotary Club of Abuja Federal has launched a special program to help local business owners in the Federal Capital Territory (FCT).
Through this initiative, one hundred local men and women will each receive a grant of N250,000 to grow their businesses. The aim is to help these small businesses become more stable and successful, especially in today’s challenging economic environment.
What makes this program unique is its rotating fund model. Rather than just giving out one-time grants, the Rotary Club will provide interest-free, short-term loans that will rotate to new recipients every three months.
This approach allows the money to keep circulating within the community, helping more people start or expand their businesses over time. By working together, community members can build a stronger local economy.
Rotary Club President Oluwafunmi Elufioye emphasized the program’s goal of encouraging business owners to support one another. “This rotating fund not only helps their businesses but also encourages community members to uplift each other,” she said. Recipients will also receive guidance and coaching over the next year to help them succeed.
The program will also have a special focus on young entrepreneurs under the age of 35. Ten selected young people will receive intensive training and mentorship to help them build the skills needed to run successful businesses. This “Cohort 2” group aims to prepare the next generation of business leaders in the community.
In addition to economic empowerment, the Rotary Club recently held an “End Polio Now” walk, underscoring their commitment to improving health and wellbeing in the community. While Nigeria was declared free of wild poliovirus in 2020, the Rotary Club continues to promote awareness and vaccination to protect against any remaining risks.
Through this supportive and sustainable model, the Rotary Club of Abuja Federal is helping FCT communities build stronger, more resilient businesses and encouraging a spirit of collaboration and growth among local entrepreneurs.