Afuye said this during a sensitisation road walk to major markets in Ado-Ekiti on Monday, hoping that the measure would help to enhance women’s businesses and investments in the state.

She held an interaction with the traders on the essence of the facility, scheduled for launching on Tuesday, July 9.

According to her, besides banishing poverty and combating spiral unemployment indexes, the governor’s ingenious and well thought-out policy will elevate female business owners and make them relevant in the economic development strategy of the government.

She also said that the Access Bank loan, initiated by Gov. Biodun Oyebanji, would help to expand the scope of women’s accessibility to soft loans to propel their businesses.

Afuye told the prospective beneficiaries that part of the interest on the loan would be borne by the government to make it easier for them to repay.

She said that government’s intention was to ensure that Ekiti women entrepreneurs were lifted through soft loans, so that they could contribute meaningfully to the state economic growth.

“I appreciate the governor for initiating this partnership with Access Bank to empower businesswomen.

“We thank him for counting womenfolk worthy of being empowered as business owners, so that they can be relevant in the economic development process.

“What the governor was trying to extend to business had been demonstrated in politics, where women are holding high positions in government. We are all living witnesses to this.

“With this partnership with Access Bank, women can have unfettered access to soft and low interest-rate loans that can make them owners of flourishing businesses to transform our economy and make them relevant in the scheme of things.

“These loans can be used to establish new businesses or used to expand the existing ones.

“The essence of this is to banish poverty, unemployment and reduce the hardship being caused by the current inflation in the system.

“Let me assure our women that the governor is highly desirous to produce a good number of women business owners that can transform the economy of our great state,” Afuye said.

She described the loan as part of the governor’s initiatives to coalesce actions with President Bola Tinubu to check the rising inflation, joblessness, poverty and rising crime rate in society.

In a remark during the business campaign procession, the Commissioner for Trade and Investment, Mrs Omotayo Adeola, said that the loan was principally for women in business, with 10 per cent interest rate.

Adeola said that the government had entered into agreement with the bank and showed readiness to pay the remaining part of the interest to engender ease of doing business.

She said the least amount was N250,000, while the second and highest amount was half-a-million naira and N1million, depending on the strength and capital base of their businesses.

“Whoever that will be eligible to access the loan must have a guarantor, who will stand for the loanee.

“This is not the kind of loan that can be called national cake, it shall be repaid, but the government has made the repayment easier by its decision to pay part of the interest,” the commissioner said.

The walk involved other top government functionaries and Access Bank officials.

They visited Okesa, Oja Oba, Atikankan, Oja Bisi and Irona Markets, where they had direct interface with traders and would-be beneficiaries of the loan.