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Heritage Bank moves to boost youth entrepreneurship


As part of effort to reduce the number of Nigerian youths in the labour market, put at 36.3 million, representing 48 percent of the entire labour force, Heritage Bank Plc has reiterated plans to provide timely and affordable credit to assist youths in implementing their business ideas.

The development would thereby, provide the mechanism of stimulating growth, reducing unemployment as well as addressing restiveness.

The bank however, has embarked on several wealth creation programmes in order to curb unemployment among youths as part of efforts to boost entrepreneurship that will lead to the recovery of the Nigerian economy.

One of such schemes is the administering and management of the N3Billion Youth Innovative Entrepreneurship Development Programme (YIEDP) of the Central Bank of Nigeria (CBN), with the aim to emancipate the latent entrepreneurial spirit among youths by providing adequate and affordable loans to execute their business ideas.

The apex bank adopted Heritage Bank as its pilot bank for the youth Entrepreneurship Development Programme (YIEDP) in collaboration with National Youth Service Corps (NYSC).

The programme, which targets 10,000 youths in productive activities within the next four years, should focus on dependable job-creating sectors, such as agricultural value chain (fish farming, poultry, snail farming), cottage industry, mining and solid minerals, creative industry (tourism, arts and crafts), and Information and Communications Technology (ICT).

However, the on-going Stream-3 Application portal opened August 8th, while portal update as at August 26th with 2, 724 applicants and only 1,078 application forms were completed.

The bank advised the remaining 1,393 applicants to complete their applications, and if challenges occur, applicants should call the bank’s contact centre for assistance and resolution.

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