In a virtual meeting, the firm emphasised the need to embrace innovative financing models to aid underserved rural communities with focus on women, widows and Internally Displaced Persons, in order to bridge the gap in the sector.
The CEO of the 3i project, Gbenga Ariyo, explained that funds are not accessible to livestock farmers in rural areas who they discovered are majorly women. He noted that the initiative would not only make funds more accessible, but will initiate profitable training for the farmers.
“Our objective is to deliver well-tailored training to the farmers, so that they are well equipped for extensive farming and to alleviate poverty.”
Explaining the categories of focus, he said, “Impact investment financing is tailored for investors, financial institutions, research institutes and international organisations. Grant-based financing will cater for government organisations, philanthropic foundations and non-profit organisations, while capital recovery financing ensures the recovery of invested capital over a specified period.
“The initiative will ensure long-term success in the livestock sector and will deliver tailored training on basic financial and business management, while building the entrepreneurial skills of beneficiaries to foster resilience.”
