Business News

BoI to Pilot Scheme for Youth, Women Entrepreneurs in Rural Areas

Bank of Industry BoI MSMEs

By Adedapo Adesanya The Bank of Industry (BoI) has introduced the Rural Area Programme on Investment and Development (RAPID), which aims to empower youth and women-led businesses in underserved regions. RAPID is to provide capital and opportunities to rural communities, in addressing challenges like rural-urban migration. The Managing Director of BOI, Mr Olasupo Olusi, disclosed during the launch in Lagos, saying that RAPID was designed to foster economic inclusion by providing rural dwellers with equitable access to capital. Mr Olusi stated that this access to capital was crucial to enhance commercial and economic activities as well as address the inadequacies