The Queen of Apomu Kingdom, Olori Janet Afolabi, has given some market women interest-free loans.
Presenting the loans to the women at Alapomu Palace Hall, Apomu, headquarters of Isokan local government area of Osun State, Mrs Afolabi said the loan would be repaid over five months.
She urged them to use the money for the purpose for which it was given, saying that the money was 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, led by the highest female chief, Christiana Akinlabu, the Otun Iyalode of Apomu Kingdom.
The queen said empowering the women was crucial for ending hunger and poverty in the rural communities.
“Poverty eradication is key to helping women escape poverty. Many of the world’s poorest people are women. Empowering them is essential not just for rural but national development,” she said.
The interest free loan was initiated by the monarch’s wife in 2020 after the COVID-19 lockdown, when many women were unable to resume their trading businesses.
“I came up with the ‘no collateral, no interest loan’ as my flagship empowerment project,” she said.
