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Leo Stan Ekeh Foundation’s Imo Wealth Project Commences June 29

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The Leo Stan Ekeh Foundation (LSEF) has announced a change of date for the commencement of the training programme for the Imo Wealth Project, a job creation and empowerment initiative.

The programme, previously scheduled to commence on June 28, will now kick off on Wednesday, June 29, 2022 in order to accommodate the sit-at-home expected in Imo State and other parts of the South East, notably with Nnamdi Kanu, leader of the Indigenous People of Biafra (IPOB) scheduled to appear in court in Abuja on Tuesday.

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The Imo Wealth Project is sponsored by the Leo Stan Ekeh Foundation, a futuristic Non-Governmental Organization (NGO) which focuses on promotion of 21st century knowledge through quality education, practical entrepreneurship, healthy living and enhanced lifestyle. The foundation plans to create over 10,000 employment opportunities for residents of Imo State, while also equipping entrepreneurs and other beneficiaries with useful knowledge and interest free loans to grow their businesses and improve their global competitiveness.

Among the target audience for the initiative are entrepreneurs, unemployed and underemployed graduates, as well as students in tertiary institutions across Imo State in their final year of studies. As part of the initiative, globally renowned tech companies like Microsoft, Meta (FaceBook), among others, are expected to certify the participating graduates who complete the programme.

Consequently, the three-day mandatory on-boarding training programme, from which successful candidates would be selected, will now take off Wednesday, June 29 and run till Friday, July 1, 2022 at the Imo State University Auditorium, Owerri, Imo State. The programme kicks off by 9am each day, while accreditation of attendees holds from 8am.

Chairman, Zinox Group, Leo Stan Ekeh, will personally open the conference each day with a 15 minutes’ inspirational session.

A prospective candidate is only expected to attend one of the daily training sessions for a chance to be selected. Interested candidates are advised to register on www.lsef.org to indicate their interest in participating. Registration and participation is free of charge for intending candidates.

Once successfully registered on the website – www.lsef.org, each candidate would be assigned a specific day on which to attend the training programme.

The training sessions will witness masterclasses from a carefully selected faculty of world class resource persons. Among other things, participants would be exposed to mentorship sessions, a finishing school class, knowledge empowerment and business success sessions. Outstanding entrepreneurs who make the final cut stand a chance to gain access to interest-free loans to grow their business, while others will be exposed to employment opportunities in their areas of competencies.

The project seeks to create quality opportunities for the youths to reduce tension in each geo-political region in Nigeria, starting with Imo State in the South East. The foundation has also partnered with tertiary institutions in the state which it has commenced equipping with best-in-class digital tools to re-train and certify qualified graduates, with plans to replicate this in a state in each geo-political region in Nigeria, if the Imo project is a success.

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SME

N101 Women Entrepreneurs To Receive N202 million Y’ellopreneur Equipment Grant

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One hundred and one female entrepreneurs have made it to the final stage of the Y’ellopreneur initiative and will each receive equipment loans of up to N2 million at a fixed interest rate of 2.5% and 36-months repayment duration from the MTN Foundation. 

The loans, which will be disbursed by the Bank of Industry, are expected to help the women scale their businesses thus contributing to reduction in female unemployment.

SMEs in less wealthy economies are mostly faced with sociocultural barriers and infrastructural deficit. They also lack poor access to finances and continuous education, and government support. Nevertheless, a 2022 report by Mastercard, shows that women in less wealthy economies are making their mark as vital economic contributors with over 25% significant business ownership of all local businesses, despite prevailing socio-economic constraints. The Y’ellopreneur initiative was established to contribute to tackling these problems in Nigeria, through capacity building, advisory and business support services.

Speaking about the equipment loan, Executive Secretary, MTN Foundation, Odunayo Sanya stated that the equipment loan is to facilitate the expansion of more sustainable women-led businesses. “Women-led businesses are powerful sources of job creation and economic growth. According to a report by PwC Nigeria, women account for 41% of business ownership and 3.4% of female employment within micro-enterprises, but they continue to face challenges in accessing finance. Through the Y’ellopreneur initiative, MTN Foundation and Bank of Industry are helping female entrepreneurs in Nigeria. By working together, we can build a fairer, more prosperous future,” said Odunayo Sanya, Executive Secretary, MTN Foundation.

 “This time, the MTN Foundation is concentrating on female entrepreneurs. Five hundred out of the nearly 42,000 applicants for the Y’ellopreneur programme were trained, and following careful assessment of their respective pitches, 101 women have qualified to receive the equipment grant and loan,” she added. 

The Y’ellopreneur initiative in partnership with the Bank of Industry (BOI) and the Enterprise Development Centre (EDC) is part of the MTN Foundation’s strategic efforts to support the government in attaining Sustainable Development Goals (SDG’s) 1,2, 5, 8 and 17 which seeks to eliminate poverty and hunger, achieve gender equality by empowering all women, and promote inclusive economic growth.

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17 Tony Elumelu Creative Storytellers Receive USD30,000 Fund from Heirs Insurance and Heirs Life

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Leading insurance companies, Heirs Insurance Limited (HIL) and Heirs Life Assurance (HLA) in partnership with Africa No Filter (ANF), have announced seventeen (17) young creatives across Africa as the recipients of the USD30,000 Tony Elumelu Storytellers Fund, a CSR initiative of both insurance companies.

The 17 finalists, selected from 3,600 entries, will receive $30,000 in grants (between $500 to 2,000 each) to develop projects that shine a light on entrepreneurs and entrepreneurship in Africa and challenge the negative stereotype of Africa.

The finalists represent 12 African countries, with 60% female and 40% male representation. Working with ANF, they will begin work on their submitted projects ranging from film to visual arts, journalism, and digital content creation. Named after African business leader and philanthropist, Tony O. Elumelu, CFR, and sponsored by Heirs Insurance and Heirs Life, the $30,000 creative fund is an extension of Elumelu’s commitment to redefining an African success story that is powered by Africa’s youth and their creative ideas. The Fund is a standalone initiative, not affiliated with the Tony Elumelu Foundation.

Speaking on behalf of both companies, Chief Marketing Officer, Ifesinachi Okpagu, congratulated the finalists, reiterating the confidence in the project’s mission to place Africa firmly on the map.

She said, “We commend the finalists of the Tony Elumelu Storytellers Fund on their ideas and commitment to this joint mission. We are confident that this CSR initiative will progressively change the often-negative stereotype about Africa.

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SME

NCC To Deepen Broadband Access Among Business Owners

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The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has reiterated the Commission’s commitment to continually drive initiatives that accelerate broadband deployment to increase penetration and make internet connection readily available to telecom consumers.

The EVC stated this at the 10th edition of Business 360 Clinics organised by Abuja Enterprises Agency (AEA) in Abuja. 

Speaking on the theme of the event, “Technology Utilization and Innovation: Effects on SME Profitability and Productivity” in the context of the regulatory activities of the Commission, the EVC, who was represented by Assistant Director, Digital Economy, NCC Paul Okeke, noted that NCC has been at the heart of providing the digital drive for transforming businesses and sustaining socio-economic activities in Nigeria.

During the panel session titled “Technology Adoption: A must for MSMEs Sustainability and Competitiveness (Challenges and Ease of Use),” Okeke highlighted the Commission’s commitment towards technological and digital transformation in a manner that makes entrepreneurship seamless.

While addressing the issue of challenges on digital literacy, Okeke informed the audience that the Commission has strategic partnerships with various organizations including Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) which birthed initiatives such as Digital Economy Academy where business owners learn about security risks and online threats in a 12-course programme for 3 months.

Okeke charged entrepreneurs to leverage technology to harness the benefits of these initiatives to sustain their businesses.

“As a regulator of Telecommunication, the Commission is in active collaboration with other agencies in the Ministry of Communications and Digital Economy,  as well as with other public sector institutions such as the Economic and Financial Crimes Commission (EFCC), Office of the National Security Adviser (ONSA) to ensure that policies become effective in curtailing cyber-attacks and threats on businesses,” Okeke stated.

The participants and business owners also seized the opportunity of the platform to make complaints and resolve their business-related challenges while adopting technology for their various businesses during the interactive session. Representatives of relevant agencies at the event also seized the opportunity to attend to enquiries from participants who are running businesses and those who are aspiring entrepreneurs. 

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