Ways to access N10m Social Exchange Market’s grant

Despite the controversy surrounding the status of the Social Exchange Market grant of between N3 million and N10 million, Apostle Israel Emeka Kama, the CEO of Vision Skilled Development Centre, one of the NGOs authorised by the social exchange market to mobilise projects, businesses and business ideas for the fund, said the initiative is genuine
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According to him,  he too was sceptical of the programme  before he ventured into it:

Hear him:“We  would have gone far if we had embraced it but all of us, including me, are running away from it and we say it is a fake programme. Anyway, that was what I said before I started it.”

An online check reveals that the programme has been on for some time now.

According to www.naijaonlinebiz.com, quoting a proponent of the programme, it says  ‘if you have a project/business that you or your group want to establish in your community, town or city in Nigeria, the grant is released by Social Exchange Market for each project enlisted in that community, town or city under the group. The project/business or  business ideas may fall into any among these: block making, garment making, pure water industry, bakery, poultry and processing. Cassava plantation and processing, cattle ranching, nursery school, drug manufacturing industry, aquaculture and bottling companies. Tomato paste factory, matches and tooth pick, nylon industry, automated shoe making, flour mill, feed mill, etc.

“The grant is minimum of N3million and maximum of N10million. No collateral needed. However, having fulfilled all documentations ,there shall be disbursement.  “This will call for monitoring of every project. You are not paying any thing. You are not returning the grant .Your ideas must be production-oriented on how to process and package products.  It is not for buying and selling. Social exchange market is funding it.  They are group of philanthropists across the world. It is not MMM.

“The NGO will generate model micro-finance banks at the grassroots that will become a financial institution. A Model microfinance bank grant is released by Social Exchange Market for each project enlisted in that community, town or city under the group.”

At a seminar for his  members at the weekend in Lagos, Kama explained how to access the grant.

According to him,  the NGO is out to empower small scale businesses or ideas, and  get to the grassroots, link the grassroots to Social EXchange Market to enable them access the grant. He added that the grant is not a loan but an empowerment grant.