Speaking during the donation, Adeboye said he knew the struggles that Small and Medium Enterprise owners face in Nigeria.
“It is said that most businesses are expected to fail within the first five years, particularly because of lack of access to funding and several other factors.
Adeboye, therefore, took up the challenge to address this issue by providing funds to five individuals with small businesses to help them scale their businesses and create value worth millions within a few months.
Reacting to his decision to foster the emergence of young millionaires, Adeboye said, “Growing up, I’ve always had a business-oriented mind, and I learned early on that lack of capital and support can kill a business before it even takes off.
“For those who have received this business grant, we will support them and help them become millionaires, who will, in turn, empower other youths. The goal is to help people achieve their dreams of excelling in their chosen business endeavours, thereby setting off a positive ripple effect on the economy of our nation.”
‘The Millionaire Quest’ as it was tagged, gained widespread attention and attracted over 400 proposals. Out of the plethora of proposals, 10 persons were invited to a live pitch in front of a panel of judges. Five people were shortlisted as winners of the N400,000 grant,” he added.
The winners, who were drawn from a variety of industries, are Emmanuel Emeka of Emynex Snail Farm, Chukwuemeka Chukwudi of Lightpad HQ, Ayanlola Margaret of Miacakes n More, Honey Olorunsola of Melisma Creations, and Jesuleke Emmanuel of Blossom Wash.
This initiative is in partnership with the School of Wealth, a social enterprise that will provide free business coaching and financial advisory services to the winners. This business support will guide the winners in attaining financial literacy and helping them build sustainable business structures.
See photos below:
