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Chapter twenty-two.

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The schemes invest in agricultural enterprises.

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DFFMS keeps the profile of every investment.

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Ngozi Eze, the Monitoring and Evaluation Analyst, appraises an investment in Zaria Women Rice Processors,

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a small-tier enterprise that parboils and mills rice, in the Zaria rice cluster.

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There are three tiers, all on revenue share for twelve months: micro up to ₦50 million, small up to ₦70 million, and medium up to ₦100 million.

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The investment is ₦35 million, with an 18% revenue share and a medium risk class.

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She records the credit enhancement: a 50% partial credit guarantee, and area-yield insurance from NAIC.

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And the impact baseline: 240 beneficiaries, 168 of them women or young people,

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with today's income and production, so the improvement can be measured later.

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The investment is now appraised.

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Ibrahim, who did not appraise it, approves it on behalf of the investment committee.

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When the money goes out, he records the disbursement: ₦35 million, maturing in a year.

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Later updates will record repayments, revenue share received, income and production.

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The scheme overview brings it all together: members, women and youth, capital raised, units, NAV,

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dividends and redemptions, and the portfolio's approval ratio, disbursement rate and impact.