Top commercial banks are set to partner with ‘FUND YES,’ a business financing intervention programme for the support of youth and women entrepreneurs in Africa.
Humanitarian activist and founder of the ‘FUND YES’ project, Kennedy Iyere, disclosed this in a statement.
‘FUND-YES’ was launched to serve as a multifaceted entrepreneurship-financing programme for youths and women in Nigeria and Africa.
It is a project anchored by Youths Off The Street Initiative (YOTSI), a non-governmental organisation (NGO).
Iyere who is also a social entrepreneur said top banks including Union, Fidelity, First Bank and United Bank For Africa (UBA) are set to partner with initiative to make it a success.
He said that FUND-YES will generate its funds through four key sources and these include Grants, Equity Crowdfunding, Business Loans and Impact Investment.
According to him, the entrepreneurship financing programme will take off with 250,000 beneficiaries and then 750,000, which means a total of One Million Beneficiaries for a start.
“The mass sensitisation and mobilisation of potential beneficiaries for their registration and recruitment will commence by Monday, August 20, 2023. That is the same time the online registration portal shall be made available. Everyone who is registered as a prospective beneficiary will be required to open a personal bank account with one of the above-named banks, which are the partner banks.”
Iyere said that ‘FUND-YES’ would create and provide a flexible platform for youths and women to access business financing for their entrepreneurial ventures, especially those who have business interest in the sectors of agriculture, technology and entertainment.
“With extreme poverty deepening on a daily basis and the gap of youth unemployment widening on daily basis, Nigeria is fast drifting towards political collapse, if these factors are not addressed as a matter of critical social and economic emergency.”
Iyere advised youths and women to take advantage of the golden opportunity.