Queen of Apomu Kingdom, Olori Janet Afolabi, has given fresh set of market women an interest-free loan. The event took place, recently, at Alapomu Palace Hall, Apomu, headquarters of Isokan Local Council of Osun State.

She said the money would be paid back in five months. Olori Afolabi advised the beneficiaries to use the money judiciously, adding that “it is meant to help them expand their petty businesses or start new ones.”

The 50 women were randomly selected and shortlisted by women leaders in the community, a process led by the highest female Chief, Christiana Akinlabu, the Otun Iyalode of Apomu Kingdom.

Olori Afolabi said empowering the women was crucial for ending hunger and poverty in the rural communities.

She said: “Poverty eradication is key to helping women escape lack. Many of the world’s poorest people are women. Empowering them is essential, not just for rural but also national development.”

The interest-free loan was initiated by Olori Janet Afolabi in 2020, as after the COVID 19 lockdown, many women were unable to resume their trading businesses. Most of them had spent their capital during the pandemic and made efforts to borrow money from families and friends, but they did not succeed.

To help these women, Olori Afolabi said: “ I came up with the “No Collateral, No Interest Loan, as my flagship empowerment project”.