LSETF’s $6.6m boost for MSMEs


The Lagos State Employment Trust Fund is set to boost the recovery of micro, small and medium enterprises (MSMEs) from the COVID-19 pandemic by providing them access to a $6.6m grant, through the Lagos COVID-19 Action Recovery and Economic Stimulus programme. ROBERT EGBE and CHINYERE OKOROAFOR write that no fewer than 2,500 businesses will benefit from the programme.

 

Paycheck protection. Sounds like a great idea, doesn’t it? Well, what is even better is that it is not only for real but already available for no fewer than 2,500 businesses in Lagos under the state’s COVID-19 Action Recovery and Economic Stimulus (CARES) programme.

The CARES programme is a $6.6million initiative of the Lagos State Employment Trust Funds (LSETF) facilitated by the World Bank to support the recovery of micro, small and medium enterprises (MSMEs) from the COVID-19 pandemic.

According to LSETF Executive Secretary, Tejumola Abisoye, it is a state-level intervention…



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