Cooperative

MISEDI Multipurpose Cooperative Society

Empowering Women for a Sustainable Future

MISEDI

Who We Are

MISEDI Multipurpose Cooperative Society is a registered cooperative under the Cooperative Society Act of Nigeria, providing women with the tools, resources, and networks needed to transform their lives. MISEDI is committed to empowering women to achieve economic independence and financial stability through innovative cooperative programs, business opportunities, and market access. We focus on agriculture, financial inclusion, access to market, gender equality, and entrepreneurial advancement through capacity building trainings and business development service provider.

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MISEDI Multipurpose Cooperative Society

What we offer

We talk a lot about hope helping and teamwork.

01

Our Vision

To be the leading Cooperative Society for women’s empowerment in Nigeria, fostering
economic inclusion, sustainable livelihoods, financial inclusion and gender equality.

02

Our Mission

To empower women entrepreneurs and small-scale farmers through financial services, skill
acquisition, access to markets, and capacity-building initiatives, while promoting sustainable
development and economic impact.

Why Choose MISEDI?
• Empowerment through Action: MISEDI translates empowerment from theory into tangible benefits, helping women take charge of their futures.
• Inclusive Financial Solutions: We provide financial tools that are accessible to women, regardless of their socioeconomic background.
• Market Access and Networking: By creating robust market systems and networks, MISEDI connects women entrepreneurs to lucrative opportunities.
• Sustainable Impact: Our programs are designed to create long-term positive impacts on women, their families, and their communities.
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Core Areas of Focus

Supporting women in agricultural enterprises by providing resources,
access to finance, and offtake market linkages

Providing innovative savings and loan packages to women SMEs
and youth, enabling them to establish and grow their businesses.

Equipping women with the skills and opportunities to
achieve financial independence and contribute meaningfully to economic
development.

Promoting entrepreneurship as a pathway to
reduce unemployment and create sustainable livelihoods.

Transforming societal norms by advocating for gender
equality and women's rights.

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Achievements and Impact

Established partnerships with local and international organizations to create a market ecosystem for women producers.
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Empowered over 1000 women entrepreneurs through training, financing, and mentorship programs.
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Increased access to export opportunities for smallholder farmers and women-led businesses.
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Advocated for women’s rights and gender equality through targeted advocacy campaigns and partnerships.
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Key Programs and Initiatives

  1. MISEDI Network of Women in Business Platform (NOWIB):
    • Connecting women MSMEs to local and international markets.
    • Introducing rural and underserved women to micro-business opportunities.
    • Facilitating access to export markets for women producers.
    • Providing business mentorship and entrepreneurship training.
  1. Access to Finance:
    • Non-collateral business loans up to 2x members’ savings.
    • Targeted loans for housing, school fees, and more.
    • Agricultural loan for crops and livestock production
    • Savings packages, including daily savings, weekly savings, and target savings for specific goals like business expansion, rent, education or food security.
  2. Skill Acquisition and Capacity Building:
    • Vocational training programs tailored to empower women and youth to have practical business skills and start their own business
    • Entrepreneurship development workshops.
    • Business mentorship to foster growth and sustainability.
  3. Housing Scheme:
    • A unique opportunity for women entrepreneurs and career women to own homes through affordable and flexible schemes tailored to their financial capacities.
  4. Savings and Benefits for Members:
    • Foodstuff and Meat Sharing Savings: Collaborative savings programs to reduce the cost of essential goods.
    • Practical Business Skill Acquisition: Equipping women with hands-on skills to establish and manage successful enterprises.
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Procedure for Accessing Micro and Business Loans in Misedi Initiative Cooperative Society

Misedi Initiative Cooperative Society is dedicated to supporting its members by providing micro and business loans tailored to empower entrepreneurial growth and economic stability. Below is a detailed procedure outlining membership requirements and the steps to access loans within the cooperative.

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I. Membership Requirements

To become a member of Misedi Initiative Cooperative Society and access its services, including loans, individuals must:

  1. Complete a Membership Application Form:
    • Obtain the membership form from the cooperative office or online portal.
    • Provide accurate and verifiable personal information.
  2. Pay Membership Fees:
    • Submit the required membership fees of N5000 into the official Misedi Cooperative Society corporate account. o Retain/Send the proof of payment as it will be required for membership validation.
  3. Confirmation of Membership:
    • Once the form and payment are received, the cooperative will process the application.
    • Successful applicants will receive a membership confirmation, granting them access to the cooperative services.
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II. Loan Eligibility Requirements

To qualify for a micro or business loan, members must meet the following criteria:

  1. Savings History:
    • Maintain consistent savings with the cooperative for a minimum of six (6) months.
    • Savings should reflect financial discipline and commitment to cooperative goals.
  2. Guarantor Requirement:
    • Secure a credible guarantor who is an active member of the cooperative. o The guarantor must have a good savings record and no history of loan defaults.
  3. No Collateral Required:
    • Loans are collateral-free, with the guarantor as the financial security for the loan.
  4. Membership in Good Standing:
    • Members must not have any unresolved disputes or outstanding debts with the cooperative.
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III. Loan Application Procedure

  1. Obtain a Loan Application Form:
    • Collect the loan application form from the cooperative office or fill it in the online portal.
  2. Complete the Application Form:
    • Fill out the form with accurate details, including the loan amount, purpose, and repayment plan.
    • Provide the guarantor’s details (name, national ID, and contact information).
  3. Guarantor Approval:
    • The guarantor must sign the application form, affirming their willingness to guarantee the loan.
    • The cooperative will verify the guarantor’s savings status and standing within the cooperative.
  4. Submit the Application:
    • Return the completed application form to the cooperative office or upload it to the designated online portal.
    • Attach supporting documents, including:
      • Proof of consistent savings.
      • Membership confirmation details.
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IV. Loan Review and Approval Process

  1. Initial Screening:
    • The loan team will verify the application for completeness and compliance with eligibility requirements.

 

  1. Loan Assessment:
    • The team will evaluate the loan amount requested against the member’s savings and repayment capability.
  2. Notification:
    • Applicants will receive notification of the loan approval or rejection within seven (7) working days.
    • For rejected applications, feedback will be provided, and members may reapply after addressing the specified issues.
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V. Loan Disbursement

  1. Loan Agreement:
    • Approved applicants must sign a loan agreement outlining the loan terms, including repayment schedule, interest rate, and guarantor responsibilities.
  2. Disbursement of Funds:
    • Loan funds will be disbursed directly to the member’s registered bank account or cooperative wallet within 48 hours of signing the agreement.
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VI. Loan Repayment

  1. Repayment Schedule:
    • Members must adhere to the repayment terms as stated in the loan agreement.
    • Payments can be made via:
      • Weekly or Monthly deductions from the member’s savings account.
      • Direct deposits into the cooperative’s loan repayment account.
  1. Default Policy:
    • If repayment is delayed, the borrower and guarantor will receive reminders from the cooperative.
    • After two failed repayment notifications, the guarantor will be held financially responsible for the outstanding amount.
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VII. Key Policies and Guidelines

  1. Savings-to-Loan Ratio:
    • Loan amounts are determined based on the member’s savings balance and cooperative policies.
  2. Guarantor Responsibility:
    • Guarantors are legally obligated to repay the loan if the borrower defaults. o A guarantor cannot guarantee multiple loans simultaneously unless explicitly approved by the loan team.
  3. Transparency and Accountability:
    • The cooperative is committed to fair treatment of all members and ensures transparency in loan processing and approvals.
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VIII. Additional Notes

  • Financial Education: Members are encouraged to participate in financial literacy and loan utilization training organized by the cooperative.
  • Future Loan Access: A good repayment history improves the member’s chances of accessing higher loan amounts in the future.
  • Loan Monitoring: The cooperative reserves the right to monitor the use of loan funds to ensure they are used for the intended purpose.

These steps ensures that members of Misedi Initiative Cooperative Society access loans conveniently while maintaining a sustainable and supportive financial ecosystem within the cooperative.

Our Contact

Address: PO3, Suite B, 3rd Floor, EDA Plaza Jabi, Abuja

Tel: +234 (0) 9065083650 or +234 (0) 9044594792

E-mail: [email protected]  or [email protected]   

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[email protected]
+234817 679 0723
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