• Fri. Jul 12th, 2024

Unity Bank Empowers 400 Graduates With Over N100 Million Investment In Corpreneurship Challenge

A winner of the challenge receives his cheque

Unity Bank has empowered over 400 fresh graduates through its Corpreneurship Challenge initiative, reflecting its commitment to driving economic growth by supporting emerging Nigerian entrepreneurs. Over the past five years, the Bank has invested more than N100 million in this program.

Launched in 2019 with pilot programs in Lagos, Edo, Ogun, and Abuja, the Corpreneurship Challenge expanded to 10 states in 2020. This initiative, promoted in partnership with the NYSC Skills Acquisition and Entrepreneurship Development (SAED), features a business pitch competition where participants—mostly fresh graduates in their NYSC year—present their business plans for a chance to win grants.

A cross section of the winners in the recent edition of the Corpreneurship Challenge

The Bank recently increased the prize money to N16 million per stream, allowing participants to win N800,000, N500,000, and N300,000 for the 1st, 2nd, and 3rd positions respectively. This is an increase from the previous prizes of N500,000, N300,000, and N200,000.

Reflecting on the initiative’s impact, Mr. Olufunwa Akinmade, the Divisional Head of Digital Banking and Fintech Partnerships at Unity Bank, stated: “The Corpreneurship Challenge has proved to be a viable enterprise development and empowerment initiative due to its high level of success in supporting budding entrepreneurs. The size of the problem it aims to solve for the Nigerian economy is significant.”

Mr. Akinmade expressed satisfaction with the program’s success and affirmed the Bank’s commitment to sustaining it to further boost job creation, with young entrepreneurs leading the charge.

Mrs. Adenike Ambimbola, the Divisional Head of Retail and SME Banking, added: “We have seen the positive impact of the Corpreneurship Challenge over the past five years due to its innovative approach to youth empowerment and job creation. The program supports budding entrepreneurs with mentorship, skills development, and financial backing.”

Since its inception, the Corpreneurship Challenge has reached across Nigeria, making stops in 10 states per stream to turn the dreams of fresh graduates and aspiring entrepreneurs into reality. The latest edition was held in Taraba, Kogi, FCT, Lagos, Yobe, Ogun, Ebonyi, Enugu, Adamawa, and Imo States, with three winners emerging from each state, making up 30 winners for the edition.

Hyacinth Beluchukwu Nwafor

Hyacinth Beluchukwu Nwafor is a seasoned journalist and the CEO/Founder Belch Digital Communications, publishers of Hybrid News Nigeria.

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