By Peter Egwuatu
Worried by the high rate of unemployment in the country, the Mastercard Foundation and THE Enterprise Development Centre (EDC), an arm of the Pan-Atlantic University, have concluded arrangement to fund 40,000 youth per year in the spate of five years.
To actualize this vision, the two organisations revealed that they have already partnered with Sterling Bank and the Lagos State Employment Trust Fund (LSETF), to provide finance at nine per cent interest rate to all the trainees of the programme to start their respective ventures.
Mr. Peter Bamkole, Director of EDC, made this revelation in Lagos said Mastercard Foundation is behind the initiative to train 200,000 Nigerian youths in the period of five years and to also fund the trainees adequately to start, grow, and become employers of labour as against roaming the street, looking for jobs that are not available.
He said: “The program will also provide support and resources to young people who want to become employable in the creative and agricultural sectors.”
According to him, “The idea is that as we train them and build their capacity, we will equally support them as they create a minimum of 200,000 jobs the programme has so far been transformational.