NGO Offers Soft Loans to Cassava Processors

A Nigerian NGO, Sustainable Livelihoods and Development Network for Africa (SLIDEN Africa), has begun the process of empowering no less than 3 600 cassava processors as part of its efforts to alleviate poverty among the peasants in Nigeria.

Under the arrangement, which is being sponsored by the World Bank and the University of Agriculture Micro Finance Bank, SLIDEN Africa also hopes to touch the lives of no less than 600 goat farmers, with the prospect of raising their income per annum to the tune of US$300.

SLIDEN Africa programme coordinator, Dayo Olowu, says that the soft loans are obtainable from the SLIDEN Africa through her partnership with UNAAB Micro-Finance Bank. Olowu says that the loan is soft with administrative charges of 10 percent lending rates as against the 20-22 percent being charged by banks in a non-middle man situation. Prompt repayment will allow the beneficiary processor and goats farmers to access more of such funds.

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