By Babajide Komolafe
Polaris Bank and the Lagos State Employment Trust Fund (LSETF) have partnered to provide a N1 billion fund to artisans operating in Lagos state.
The partnership was announced at joint media launch of the fund in Lagos last week addressed by Polaris Bank Executive Director, Lagos Business, Mr. Segun Opeke, and the Executive Secretary of LSETF, Tejumola Abisoye.
Opeke explained that the partnership with LSETF is aimed at providing the much-needed funding to create wealth and empower artisans and players within the micro, small and medium enterprises, MSME, space in Lagos state who have been in business operation for a minimum of one year.
He further noted that Polaris Bank will be providing N500million counterpart funding in the partnership while LSETF is providing the fund the same amount.
In her presentation at the signing off ceremony, Abisoye, stated, “LSETF working with the Lagos State Council of Tradesmen and Artisans and the Ministry of Wealth Creation and Employment is committed to making impact by ensuring it creates access to finance and sustainable job opportunities for artisans in Lagos State.
“We are happy to partner with Polaris Bank in ensuring that this mandate is achieved, and we know that through this fund, thousands of artisan businesses across the state can become sustainable. At LSETF, we are open to more strategic partnerships to reduce unemployment by building the capacity and improving the productivity of Lagos residents” she added.