1000 YOUTH ENTREPRENEURS: Ayotunde Chinelo Bally Foundation rolls out interest-free loans in Ondo Kingdom

It was a new dawn in the life of young entrepreneurs in Ondo kingdom, when Engr Ayotunde and Chinelo Aduke Bally the conveners of Ayotunde Chinelo Foundation presented cheques of N500,000.00 and N250,000.00 respectively to 20 beneficiaries in the first phase interest-free loans scheme in Ondo city.

He explained that the loans are to support them to grow their business and create wealth.

Engineer Ayotunde Akinola Bally, a Development Specialist and Humanitarian made this known in his address, that the vision of his Foundation is to raise 1000 successful young entrepreneurs within the next five years in Ondo Kingdom.

He added that, the loans are interest-free for young adults between the age of 18 to 35 years.

He explained further that, the beneficiaries were all residents living and doing business in the kingdom. Also, individual guarantors have made good recommendations about the beneficiaries before receiving the loans. More so, good knowledge of the business and mentorship were added criteria to benefit from the loan scheme.

The Guest lecturer, Dr. Ibukun Awosika enlightened all and sundry on her Topic Lecture titled ” Youths Participation in Community Development”.

She described youth as anybody between the age of 15 and 24 years according to United Nations, while in Nigeria context is between 18 to 35 years old. She said 60% out of Nigeria population are youth and about 66.7% of them were unemployed in Nigeria.

Therefore, Awosika encouraged the youths to involve actively in the public life of their communities and contribute proactively towards its development. She expressed her delight on what Ayotunde and Chinelo Foundation has being doing for the young people of Ondo city saying this laudable initiative would go a long way in eradicating poverty.

Earlier, the wife of the convener, Mrs Chinelo Aduke Ayotunde Bally described the intentions of his husband as a noble course, due to his love to his people.

Mrs Chinelo congratulated all the beneficiaries and revealed how the Foundation would mentor all of them to create wealth and maximize the opportunities therein. She encouraged them to look beyond the fence of what they can see.

She advised the recipient of the loan to plough in and back the resources so as to grow themselves and develop others by creating jobs and further help in solving numerous problems facing the kingdom for a shared economic prosperity.

Speaking with Miss Akinfela Oluwafunmilayo, one out of the twenty beneficiaries in the first phase of interest-free loan scheme expressed her joy and appreciated the Ayotunde and Chinelo Foundation for enabling her with N250,000.00 as a boost to her food commodities market.

According to her she promised to repay the loan back on time, because they have 90days loan repayment holiday. Also for others to benefit again and keep the chain-like reactions.

The Chairman of the occasion High Chief Johnson Adeduro, the Sasere of Ondo Kingdom in his remark commended the initiator of the Foundation saying they have done well and appreciated the vision driving them to develop Ondo Kingdom.

He advised the youths to take this opportunity as a breakout from poverty and develop others. He also charged them to pay back the loans for others to enjoy.

The High Chief encouraged other sons and daughters of Ondo Kingdom to emulate Ayotunde Chinelo Foundation for a collective socio-economic re-engineering of our people.

Akinjide Oluwatope
For: Ayotunde and Chinelo Bally Foundation.
31st August, 2021

Published by WonderLady

Journalist, Educationist, Writer, Human Rights Advocate

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