Worried by the high rate of unemployment in the country, the duo of Mastercard Foundation and Enterprise Development Centre (EDC) have collaborated to train and fund 40,000 youth per year in the spate of five years. To actualise this vision, Mastercard Foundation and EDC revealed that they have already partnered with Sterling Bank and the Lagos State Employment Trust Fund (LSETF), to provide finance at nine per cent interest rate to all the trainees of the program to start their respective ventures. Mr. Peter Bamkole, Director, Enterprise Development Centre (EDC), Pan-Atlantic University, made this revelation in Lagos alongside the Country head of Mastercard Foundation, Mrs Chidinma Lawanson.
Bamkole said Mastercard Foundation is behind the initiative to train 200,000 Nigerian youths in the period of five years and to also fund the trainees adequately to start, grow, and become employers of labour as against roaming the street, looking for jobs that are not available.
He said: “The program will also provide support and resources to young people who want to become employable in the creative and agricultural sectors. According to him, “the idea is that as we train them and build their capacity, we will equally support them as they create a minimum of 200,000 jobs…the programme has so far been transformational.