Business
Corpreneurship Challenge: Unity Bank Splashes N10m Grant on 30 Corps Members
Unity Bank Entrepreneurship Development Initiative – Corpreneurship Challenge, targeted at empowering fresh graduates and Corp Members on one-year compulsory national youth service has, in its ninth edition of the Corpreneurship Challenge held across 10 States recently, doled out N10 million grant to 30 winners.
The winners emerged after a business pitch presentation held across 10 States; namely, Rivers, Delta, Sokoto, Edo, Abuja, Akwa-Ibom, Osun, Kano, Bayelsa, and Enugu, with each state producing three winners who took home cash grants of N500,000, N300,000 and N200,000.
The winners of this ninth edition included Corp Members focusing developing entreneurship in renewable energy, fashion, beauty, agro-processing, confectionaries, etc.
Some of the winners at the Rivers State NYSC Orientation camp at Nonwa Gbam Tai included Muoneke Gift, whose business plan on renewable energy took home the grand prize of N500, 000; followed by Ilesanmi Olamide’s business proposal on beauty services to claim the N300, 000-business grant for first runner up. Ekanem Moses Idoreyin’s confectionary business proposal took home the N200, 000 grant.
The winners emerged after their business plans were assessed by a panel looking out for business ideas that demonstrate originality, marketability, future employability potential of the product, and knowledge of the business.
The Unity Bank Corpreneurship Challenge has gradually joined the league of some of the most impactful, youth-focused entrepreneurship development initiatives in Nigeria, empowering no fewer than 100 young entrepreneurs over the past three years.
Recently, one of the beneficiaries in Sokoto, Beulah Yusuf, who emerged as second runner-up in one of the editions successfully launched her recycling business with the grant received from the Bank. She unveiled her products widely acclaimed for addressing environmental pollution and waste management inefficiencies, underscoring the Bank’s motivations to sustain the initiative.
Speaking during the finale at Rivers State NYSC Orientation Camp recently, the Group Head, Retail, E-Business, and SME Banking, Unity Bank Plc, Mr. Olufunwa Akinmade, said the Bank was delighted with the impressive records the Corpreneurship Challenge has pulled so far.
“When we launched the initiative in 2019, we set out to empower the next generation of entrepreneurs that will disrupt the job market by creating much-needed jobs across all sectors. Today, we have come a long way and the Corpreneurship Challenge has lived up to its billing.”
Represented by Regional Manager, Port Harcourt Region, Unity Bank Plc, Mr. Eto Ukpe, Akinmade reiterated the Bank’s commitment to sustaining the initiative and mainstreaming the Corpreneurship Challenge as a reliable and impactful entrepreneurship and business empowerment and mentorship programme in the country.
“What we have today in the labour market is far from the ideal. However, it is not enough to keep complaining. We must make lemonade out of lemon. We believe that the Corpreneurship Challenge has proved to be one of the most creative approaches to tackling the intractable crisis we have in the job market in Nigeria.”
“Our goal is to expand this programme to all 36 states and sustain it for as long as possible to achieve record impact. We continue to encourage the winners to continue to learn the rudimentary lessons necessary to build a successful business. We emphasize that the budding entrepreneurs who take part in this initiative constantly think about the challenges they will face and put the same energy they all have displayed in preparing for this contest in their businesses as they face their post-service year ahead.”
The Corpreneurship Challenge, which has earned the Bank national recognition for its impact on youth empowerment and job creation, has continued to elicit growing interest among the corps members, attracting over 2000 applicants and participation in every edition.
In partnership with the NYSC Skill Acquisition and Entrepreneurship Development, SAED, the initiative prominently features a business pitch presentation that provides the participants with the opportunity to present their business plans and stand a chance to win up to N500, 000 cash in the business grant.
So far, Unity Bank has invested over N100 million in the initiative which has now produced 118 winners since it was launched in 2019.
Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has announced the launch of the Hackaholics Digital Summit 2023, Africa’s largest gathering of innovators, disruptors, regulators, policymakers, investors & customers in the digital space.
This groundbreaking summit will serve as a hub for sharing cutting-edge insights, trends, and best practices in the tech industry towards the positive transformation of technology and innovation not just in Nigeria but across the African continent.
In 2019, Wema Bank introduced Hackaholics, a dedicated initiative targeting youth and startups. Its mission is to provide a stage for entrepreneurs and innovators with transformative, tech-driven concepts to bring their ideas to fruition and refine their skills. The 4th edition of Hackaholics, launched in April 2023, involved several months-long journey to top Nigerian universities to identify and nurture talented students with creative ideas. These students were afforded the opportunity to collaborate, enhance their skills, and actualize their unique concepts through technology. The Hackaholics Digital Summit will host both the grand finale of Hackaholics 4.0 and the inaugural edition of the digital summit.
The Hackaholics Digital Summit 2023 is scheduled for October 6, 2023, in Lagos, Nigeria, under the theme “Re-Imagine: Disrupting the Ecosystem for Scale.” This multifaceted event commences with the launch of the Hackaholics Digital Summit and concludes with the exciting grand finale of Hackaholics 4.0. During this grand event, the standout teams from the competition will showcase their innovations, contending for the prestigious titles of Hackaholics 4.0 winners.
Notably, the winning team will receive a grant of N10,000,000 worth of prizes, the first runner-up N7,000,000 worth of prizes, the second runner-up N5,000,000 worth of prizes, while a special N3,000,000 grant is reserved exclusively for a female-led team. Additionally, a N15,000,000 grant will be allocated to University STEM endowment.
The Digital Summit will further encompass an array of simultaneous master classes, providing attendees with the opportunity to witness the emergence of Africa’s technological future while gaining invaluable insights from renowned experts. These masterclasses will delve into topics such as “The Future of Financial Services,” “Venture Capital and Funding Viable Innovation for Scale,” and “Strategic Technology for Impact & Societal Change: Transforming Today & Tomorrow’s World.”
Attendance to this prestigious event is by invitation only; however, interested customers and technology enthusiasts can secure a spot at the Wema Bank Hackaholics Digital Summit 2023 by registering at https://hackaholics.wemabank.com/digital-summit.
President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate.
This directive, according to a statement signed Ajuri Ngelale, Special Adviser to the President on media, is in conformity with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which vests in the President of the Federal Republic of Nigeria, the authority to appoint the Governor and Four (4) Deputy Governors for the Central Bank of Nigeria (CBN), subject to confirmation by the Senate of the Federal Republic of Nigeria.
Furthermore, President Bola Tinubu has approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending their confirmation by the Nigerian Senate, as listed below:
(1) Mrs. Emem Nnana Usoro
(2) Mr. Muhammad Sani Abdullahi Dattijo
(3) Mr. Philip Ikeazor
(4) Dr. Bala M. Bello
In line with President Bola Tinubu’s Renewed Hope agenda, the President expects the above listed nominees to successfully implement critical reforms at the Central Bank of Nigeria, which will enhance the confidence of Nigerians and international partners in the restructuring of the Nigerian economy toward sustainable growth and prosperity for all.
FirstBank has announced that its FirstEdu product designed to put schools at an advantage in the financing of capital projects such as the acquisition of new property, school expansion and reconstruction has been remodeled to a period of up to a maximum tenor of 48 months.
Since its launch in 2018, the FirstEdu loan has promoted the continued improvement of schools whilst putting them at an advantage in meeting their mid and long-term goals. These goals include the expansion of the school through the acquisition of landed properties, purchase of school bus, modern educational facilities, tools and equipment to optimize the day-to-day operations of the school.
Renewable energy loan for schools has also been added to enable them control and reduce the high cost of fuel while powering their school facilities as well as minimize their environmental impacts.
FirstEdu loan is targeted at private Nursery & Primary, Secondary and A-Levels schools. The product offers an opportunity for private school owners to access flexible funding to meet urgent cash flow needs, replace old furniture and equipment, as well as refurbish dilapidated buildings and classroom blocks. With this product, school owners or proprietors can stay ahead of the competition in providing educational services and support to the target population.
To enjoy the loan offer, the interested school must have been in business for at least 24 months, maintained an account relationship with FirstBank for at least six months or any Bank registered with the CBN for a minimum period of 12 months. The customer can access up to N20 million or more, depending on the cashflow capacity of the school.
The Group Executive e-Business and Retail Products, Mr Chuma Ezirim, said “we are happy with the positive response that our FirstEdu product is eliciting across the country. This is not only a demonstration of the great experience witnessed in the schools, but also the impact it has made across the value chain of the educational sector which contributes significantly to the socio-economic development of the country. Education is the bedrock of any society; and the future belongs to those who built this bedrock today. We remain committed to supporting the educational sector as part of our nation-building strategy,’’ he concluded.
Do you have a school, and keen on taking it to the next level? Visit the FirstBank website https://www.firstbanknigeria.com/personal/loans/more-financing-options/firstedu-loan/ or the FirstBank branch nearest to you. We will be delighted to partner with you on taking your school to the next level.
