Fate Foundation – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Mon, 08 Sep 2025 12:32:23 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png Fate Foundation – Tech | Business | Economy https://techeconomy.ng 32 32 Nigerian Entrepreneurs Are Building Africa’s Digital Future – Lagos Deputy Governor at GITEX Nigeria https://techeconomy.ng/nigerian-entrepreneurs-are-building-africas-digital-future-lagos-deputy-governor-at-gitex-nigeria/ https://techeconomy.ng/nigerian-entrepreneurs-are-building-africas-digital-future-lagos-deputy-governor-at-gitex-nigeria/#respond Mon, 08 Sep 2025 10:15:30 +0000 https://techeconomy.ng/?p=166662 Quick Read:

  • GITEX NIGERIA Startup Festival cast a unique global spotlight on the profound influence of emerging entrepreneurs across Nigeria & Africa 
  • Supernova Challenge finals also headlined the third & final day of GITEX NIGERIA 2025 – Curacel claimed $10,000 first prize

The inaugural GITEX NIGERIA concluded in a tremendous fashion this Thursday in Lagos, as West Africa’s largest tech, AI, and startup show cast a spotlight on the influence of emerging local and regional entrepreneurs.

Held under the patronage of President Bola Ahmed Tinubu, GITEX NIGERIA took place across Abuja and Lagos from 1-4 September.

Supported by the Federal Ministry of Communications, Innovation and Digital Economy with the National Information Technology Development Agency (NITDA), the event was endorsed by Lagos State Government and organised by KAOUN International, global producer of GITEX events.

Taking place in Nigeria’s commercial and innovation capital, the GITEX NIGERIA Startup Festival showcased the strength and depth of an ecosystem through which talent development pathways and digital infrastructure projects are accelerating Nigeria’s US$1 trillion economy ambition.

Dr. Kadri Obafemi Hamzat, deputy governor of Lagos State, hailed its immediate impact at the national level, declaring:

“GITEX NIGERIA sends an inspirational message to every Nigerian: that many positive things are transpiring across our country and opportunities are here. For every attendee at the GITEX NIGERIA Startup Festival, this has been immediately apparent. We see many young citizens and entrepreneurs, with enormous innovative minds, making a real difference – generating interest, raising capital, and overcoming challenges by bringing their ideas to life and delivering tangible impact. Such outcomes are crucial because they show that, as the world evolves, so too does Nigeria – as a nation of leaders, innovators, and architects of digital future we envisage.”

Central to Nigeria – and Africa’s – digital sovereignty is upskilling and expanding grassroots talent and organisations.

As the largest regional showcase of its kind and a convergence point for local and international stakeholders embracing digital transformation, the GITEX NIGERIA Startup Festival was perfectly timed to support this mandate.

Over 650 startups from 27+ countries and 29 different industries participated with a shared vision of co-creating tech architecture across multiple sectors undergoing continent-wide digitisation. Its strategic programme included Nigeria’s most globally diverse investor programme, innovation hub showcases, and curated meetings between startups, investors, corporates, governments, industry leaders, and prospective partners.

Speaking after the recent announcement of funding 75 new research projects for startups, researchers, corporates and Nigerian diaspora for digital innovation, Dr. Bosun Tijani, minister of Communications, Innovation and Digital Economy of the Federal Republic of Nigeria said:

“The opportunity and responsibility lies with all of us to build a resilient, innovative, and globally connected ecosystem, one that ensures that Nigeria not only keeps pace with the digital future but also shapes it. To all enterprises, corporates, startups, academia, and partners, we offer a transparent and accelerated path to collaboration, investment, and cooperation with Nigeria. Let us accelerate the development of the digital economy not only for Nigeria, but for Africa and the world.”

Supporting the multi-sector disruption ranging from education and agriculture through manufacturing and energy, startup participation was bolstered by hundreds of organisations brought by local engagement and international innovation hub partnerships.

Within Nigeria, NITDA, Lagos State, FATE Foundation, Co-creation Hub Africa (CcHUB), and Orange Corners were among the partners, while internationally, the United Nations Development Programme (UNDP), American Business Council (ABC) contributed.

Mr. Kashifu Inuwa Abdullahi, director general/CEO, NITDA, said:

“Across Africa and around the globe, future-oriented partnerships are the lifeblood of thriving startup ecosystems and digital economies. By uniting ambitious organisations from instrumental sectors in the emerging digital economy, we demonstrate how collaboration fuels innovation, accelerates transformation, and empowers Nigerians and Africans to shape their digital future.”

Universally recognised as the world’s leading pitch competition for early-stage companies and emerging entrepreneurs, the Supernova Challenge made its regional debut at West Africa’s largest tech, AI, and startup show – culminating in action-packed Thursday final.

Across two days in Nigeria’s innovation capital, the continent’s brightest and boldest disruptors joined Nigeria’s most visionary startups in competing for a US$22,000 total prize pool across six categories – showcasing game-changing solutions transforming agritech, cybersecurity, edtech, e-commerce, healthtech, telecom, and more.

Following the semi-finals 24 hours prior, the remaining contestants battled it out for valuable cash prizes and unprecedented visibility as regional and international investors watched on.

Abdul-Jabbar Momoh, VP, from Nigerian startup Curacel,  revolutionising health insurance with AI-driven solutions – emerged as the most outstanding finalist among the expert judging panel, and was awarded the US$10,000 first prize for its AI-driven health insurance solution.

Reflecting on the at GITEX NIGERIA, Momoh said:

“Placing first at the GITEX NIGERIA Supernova Challenge gives us more visibility and fuel our expansion across Europe, Middle East and Africa, as well as North America. Most importantly we are going to keep on impacting lives in Africa and around the world by deploying solutions to move health insurance distribution.”

The winners across each Supernova Challenge category were as follows:

  • Overall Supernova Champion (US$10,000): Curacel
  • AI category (US$2,000): Build Africa
  • Digital Finance category (US$2,000): InCash
  • Creative Economy & Martech (US$2,000): Hadiya
  • Agritech & Energy (US$2,000): Acecore
  • Mobility & Smart Cities (US$2,000): Kara
  • Disruptor Award (US$2,000): HiPrep

For more information, news and updates on GITEX NIGERIA, please visit gitexnigeria.ng.

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NITDA, GIZ/DTC Intensify Digital Literacy Efforts, Engage Stakeholders in Lagos https://techeconomy.ng/nitda-giz-dtc-intensify-digital-literacy-efforts-engage-stakeholders-in-lagos/ https://techeconomy.ng/nitda-giz-dtc-intensify-digital-literacy-efforts-engage-stakeholders-in-lagos/#respond Mon, 08 Apr 2024 16:10:41 +0000 https://techeconomy.ng/?p=128691 In a continuous effort to bridge the digital divide and empower Nigerians with essential digital skills, the National Information Technology Development Agency (NITDA), in partnership with the GIZ/DTC, held a Stakeholder Awareness on the National Digital Literacy Framework (NDLF) in Lagos.

Kashifu Inuwa Abdullahi, the director-general of NITDA, in his opening remarks, emphasised the critical role of digital literacy skills in today’s rapidly evolving digital landscape.

He highlighted the NDLF as a comprehensive roadmap developed by NITDA, in collaboration with key stakeholders to equip Nigerians with the necessary digital skills to thrive in the digital age.

Inuwa, who was represented by Dr. Falilat Jimoh, of the Digital Inclusion Unit of the  Agency’s South West Zonal Office (SWZO), asserted that the collaborative efforts with the Ministry of Education were underscored, focusing on integrating the framework’s provisions into the national school curriculum.

NITDA - Fatima Jimoh
Dr. Falilat Jimoh, while giving the welcome address on behalf of the Director-General of NITDA at the National Digital Literacy Framework (NDLF) Stakeholders Awareness Session in Victoria Island, Lagos.

“This initiative aims to equip students from a young age with foundational digital skills essential for future success,” he noted.

Furthermore, he mentioned that NITDA’s partnership with GIZ/DTC is fostered to establish robust standards for digital literacy content, ensuring high-quality and relevant learning materials aligned with the NDLF’s objectives.

Inuwa stressed that NITDA’s commitment to digital inclusion extends beyond formal education, with ongoing digital literacy programs targeting women, artisans, and other underserved segments of the society.

He emphasised the importance of collaborative efforts, stating that the framework enables the implementation of NITDA’s Strategic Roadmap and Action Plan (SRAP) 2.0, 2024–2027 pillars, “Fostering Digital Literacy and Cultivating Talents”.

“The SRAP 2.0 is a living document that is being redrafted to align with the Federal Ministry of Communications, Innovation and Digital Economy policy document “Accelerating Our Collective Responsibility”, which has Five strategic pillars namely, Knowledge, Policy, Infrastructure, Innovation, Entrepreneurship & Capital, and Trade.

According to the NITDA boss, these programs aim to empower individuals to participate meaningfully in the digital economy and access online opportunities.

“This resonates with the Knowledge pillar of the Ministry tailored to accelerate the collective responsibilities of all stakeholders towards achieving inclusivity in all its dimensions which supports the Renewed Hope Agenda that is focused on propelling the Nigerian economy and enhancing the welfare of its citizens”, he said.

Hence, he stated that the workshop goal is to create widespread awareness about the NDLF through interactive sessions and discussions, providing stakeholders with a deeper understanding of its components, target audiences, and potential impact on bridging the digital divide among Nigerians.

Additionally, the Director-General emphasised the importance of collective action in the successful implementation of the NDLF, expressing gratitude for the collaboration with partners and the participation of stakeholders. He affirmed that the significance of tailoring the framework to the specific needs of Nigeria’s diverse population is to achieve maximum effectiveness.

In conclusion, Inuwa expressed confidence that the NDLF, coupled with collaborative efforts, will play a pivotal role in empowering Nigerians with the digital skills necessary to actively participate in the digital economy, and access online information and opportunities while contributing to a more inclusive and prosperous society. He then urged participants to continue collaborations to unlock the full potential of Nigeria’s digital future.

Earlier, Dr. Thuweba Diwani the Commission Manager GIZ/DTC Nigeria in her opening remarks delivered by Olusegun Alimi, the Technical Advisor, GIZ/DTC Nigeria, anticipated that the awareness session would be an avenue to dialogue and come up with a “Participatory Policy Implementation Framework (PPIF)” he added, “for policies to be sustainable they need to be owned by the people”.

The Digital Transformation Centre Nigeria (DTC Nigeria) is a project funded by the European Union and the German Federal Ministry for Economic Cooperation and Development, implemented by Deutsche Gesellschaft Fuer Internationale Zusammenarbeit (GIZ).

It focuses on digitalization, innovation, and entrepreneurship in Nigeria, aiming to enhance the country’s digital innovation ecosystem and boost its capacity for adopting digital innovations for economic and societal growth.

Other Ministries, Departments and Agencies (MDAs) at the dialogue were, the National Orientation Agency (NOA), National Identity Management Commission (NIMC), Lagos Public Private Partnership (PPP), Lagos State Technical and Vocational Education Board (LASTVEB), Lagos State Employment Trust Fund (LSETF), also, the private sectors represented were MTN Foundation, CISCO, Tech4Dev, Fate Foundation among others.

The moderator, Mr. Tayo Olosunde an ecosystem industry enthusiast affirmed that the stakeholders’ sessions had also been held in Kano and Abuja.

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How CMC Connect LLP Supports Entrepreneurship in Nigeria https://techeconomy.ng/how-cmc-connect-llp-supports-entrepreneurship-in-nigeria/ https://techeconomy.ng/how-cmc-connect-llp-supports-entrepreneurship-in-nigeria/#respond Mon, 04 Dec 2023 05:47:09 +0000 https://techeconomy.ng/?p=119675 CMC Connect LLP, a leading perception consulting firm, has demonstrated its interest in the growth on entrepreneurship in Nigeria, in line with its believe in the power of entrepreneurship to drive positive change and economic growth.

This was made known when the organisation hosted members of the FATE School of Entrepreneurship, an emerging Entrepreneurs programme founded by FATE Foundation recently at their office in Ikeja, GRA, Lagos.

Representatives from the FATE School of Entrepreneurship were warmly welcomed by the team at CMC Connect LLP as the Entrepreneurial visit is an integral part of the Emerging Entrepreneurs Programme through which the entrepreneurs pay courtesy visit to top industry tycoons.

The visit commenced with an engaging dialogue between the representatives of both organizations, where they shared insights, experiences, and best practices in supporting budding entrepreneurs.

The discussions revolved around the challenges faced by aspiring entrepreneurs and the various ways in which both entities could collaborate to provide them with the necessary tools, resources, and mentorship.

The representatives from the FATE School of Entrepreneurship had the opportunity to explore the facilities at CMC Connect LLP and were impressed by the agency’s commitment to fostering an environment conducive to innovation and collaboration.

“We are thrilled to have had the opportunity to host the representatives of the FATE School of Entrepreneurship during their courtesy visit. At CMC Connect LLP, we strongly believe in the power of entrepreneurship to drive positive change and economic growth,” said Yomi Badejo-Okusanya, Lead Partner at CMC Connect LLP. “This visit has provided us with valuable insights and potential avenues for collaboration to further empower aspiring entrepreneurs in our community.”

The representatives from the FATE School of Entrepreneurship expressed their gratitude for the warm reception and expressed their eagerness to explore future collaborations with CMC Connect LLP.

They acknowledged the agency’s expertise in communication and outreach, which could greatly enhance their efforts in empowering entrepreneurs at scale.

CMC Connect LLP looks forward to strengthening its collaboration with the FATE School of Entrepreneurship and other like-minded organizations to create an enabling environment for entrepreneurs and foster economic growth in our community.

CMC Connect LLP is a game-changer in Nigeria’s communications space, leveraging insight-driven, bold, and creative solutions that put our clients ahead of the game.

Transiting from a Limited Liability Company to Limited Liability Partnership, we have emerged as one of Nigeria’s most dynamic, most diversified, and most capacity-infused Public Relations and Strategic Communication Firm.

As the exclusive affiliate of the BCW network in Nigeria, we are operating from Nigeria’s economic capital and the largest economy in Africa, strategically positioned to provide solutions across markets using a project management approach.

With experienced and highly skilled professionals, we are inspired and committed to delivering extraordinary services, solving the most difficult issues for our esteemed clients, and transforming businesses through communications.

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NIGERIA: Top 10 States Leading Entrepreneurship Development https://techeconomy.ng/nigeria-top-10-states-leading-entrepreneurship-development/ https://techeconomy.ng/nigeria-top-10-states-leading-entrepreneurship-development/#respond Mon, 08 May 2023 23:00:00 +0000 https://techeconomy.ng/?p=101409 Entrepreneurship is a key driver of economic growth and development in Nigeria. And that is why we are bringing to your reading notice a new ‘State of Entrepreneurship Index Report for Nigeria’ by the FATE Institute of the popular FATE Foundation.

The Fate Institute State-Level Entrepreneurial Index Ranking measures the enabling environment for entrepreneurship in each state of the country, including access to finance, infrastructure, and human capital. 

Both the public and private sectors are playing significant roles in the development of these states.

Measured according to business performance, skills acquisition, innovation and technology adoption, perception of future opportunities, enabling business environment, index score and rank, the top 10 states leading entrepreneurship development in Nigeria according to the 2022 ranking are:

1. Imo 

Imo State has made significant strides in entrepreneurship development, particularly in the technology sector. The state has a growing number of startups and incubators, and has invested in infrastructure development to support entrepreneurship. 

The state government has launched several initiatives to support small businesses and startups, and the local ecosystem has seen an influx of investment and innovation.

State-Level Entrepreneurial Index Ranking
Imo State Investment Promotion Agency (ISIPA)

One of the most notable entrepreneurship development initiatives in Imo State is the Imo State Investment Promotion Agency (ISIPA), which was established to attract investment to the state and support the growth of small and medium-sized enterprises (SMEs). ISIPA offers a range of services to entrepreneurs and investors, including investment facilitation, business registration, and access to funding.

Imo State’s business performance was 0.17, with skills acquisition of 0.16, innovation and technology adoption measured 0.18, perception of future opportunities was 0.22, enabling business environment indicated 0.08, while index score was 0.82 and rank was 1.

2. Bauchi

Bauchi State has a relatively young population and has invested in human capital development. The state has also launched several initiatives to support entrepreneurship and innovation, including a technology hub. With business performance of 0.15, Bauchi measured 0.14 for skills acquisition, 0.17 in innovation and technology adoption, 0.21 for perception of future opportunities, enabling business environment was 0.05, index score was 0.72, with rank of 2.

Bauchi State Investment Promotion Agency (BIPA)
Bauchi State Investment Promotion Agency (BIPA)

Bauchi State Investment Promotion Agency (BIPA), was established to attract investment to the state and support the growth of small and medium-sized enterprises (SMEs). BIPA offers a range of services to entrepreneurs and investors, including investment facilitation, business registration, and access to funding.

In addition to BIPA, Bauchi State has also established the Bauchi State Small and Medium Enterprises Development Agency (BASMEDA), which provides training and capacity building for SMEs, as well as access to finance and other resources.

3. Delta

Delta State has a strong manufacturing base and has launched several initiatives to support entrepreneurship and attract investment. The state has also invested in infrastructure development to support entrepreneurship. While the state’s business performance was 0.16, its skills acquisition was 0.12, innovation and technology adoption was 0.13, perception of future opportunities measured 0.23, enabling business environment was fixed at 0.05, while index score and rank were 0.70 and 3 respectively.

Delta State Investment Development Agency (DIDA)
Delta State Investment Development Agency (DIDA)

Delta State Investment Development Agency (DIDA), which was established to attract investment to the state and support the growth of small and medium-sized enterprises (SMEs). DIDA offers a range of services to entrepreneurs and investors, including investment facilitation, business registration, and access to funding.

In addition to DIDA, Delta State has also established the Delta State Small and Medium Enterprises Development Agency (DESMEDA), which provides training and capacity building for SMEs, as well as access to finance and other resources.

The state government has also launched several other initiatives to support entrepreneurship development, such as the Delta State Micro, Small and Medium Enterprises Development Fund, which provides funding and technical assistance to SMEs, and the Delta State Innovation Hub, which provides a platform for entrepreneurs to access resources and collaborate with other startups.

4. Plateau

Plateau State, which ranked fourth has a growing tourism sector and has invested in infrastructure development to support entrepreneurship. The state has also launched several initiatives to support innovation and technology. 

Plateau State Small and Medium Enterprises Development Agency (PLASMEDA), established to provide training, funding and support to SMEs in the state, offers a range of services to entrepreneurs and investors, including business advisory, mentorship, and access to finance.

In addition to PLASMEDA, Plateau State has also established the Plateau State Information and Communication Technology Development Agency (PICTDA), which provides training and capacity building for SMEs in the technology industry, as well as access to funding and other resources.

The state government has also launched several other initiatives to support entrepreneurship development, such as the Plateau State Youth Entrepreneurship Scheme (PL-YESS), which provides training and funding for young entrepreneurs, and the Plateau State Economic and Investment Summit, which provides a platform for entrepreneurs to network and access funding opportunities.

In business performance it had a score of 0.15, skills acquisition of 0.15, innovation and technology adoption was also 0.15, perception of future opportunities, 0.21, enabling business environment was 0.04, with an index score of 0.69.

5. Gombe

Despite being a relatively small state, Gombe has made significant progress in the technology space in recent years, thanks to the efforts of the state government, private sector, and tech enthusiasts.

One of the most notable technology initiatives in Gombe is the Gombe State Innovation Hub, which was established by the state government to support tech startups and innovation. The hub provides co-working spaces, mentorship, funding opportunities, and access to a network of tech experts and investors.

In addition to the innovation hub, Gombe has also launched several other initiatives to support technology and innovation, such as the Gombe Goes Digital program, which aims to digitize government services and processes, and the Gombe Tech Academy, which provides training and skills development for young people in tech-related fields.

In business performance, it measured 0.15, skills acquisition; 0.14, innovation and technology adoption; 0.15, perception of future opportunities; 0.20, enabling business environment; 0.04, index score; 0.69 and rank of 5.

6. Bayelsa

Bayelsa State has a growing technology ecosystem, with several startups and incubators. The state has also invested in infrastructure development to support entrepreneurship.

Bayelsa State Microfinance & Enterprise Development Agency (BYMEDA)
Bayelsa State Microfinance & Enterprise Development Agency (BYMEDA)

One of the most notable entrepreneurship development initiatives in Bayelsa State is the Bayelsa State Microfinance & Enterprise Development Agency (BYMEDA), which was established to provide training, funding and support to SMEs in the state. BYMEDA offers a range of services to entrepreneurs and investors, including business advisory, mentorship, and access to finance.

Business performance was 0.14, skills acquisition; 0.14, innovation and technology adoption; 0.15, perception of future opportunities; 0.20, enabling business environment; 0.05, index score; 0.68 and rank; 6.

7. Edo

Edo State has a growing technology ecosystem, with several startups and incubators. The state has also established a venture capital fund to support early-stage startups.

Business performance was 0.14, skills acquisition; 0.13, innovation and technology adoption; 0.14, perception of future opportunities; 0.21, enabling business environment; 0.05, index score; 0.67 and rank; 7.

NIGERIA: Top 10 States Leading Entrepreneurship Development
EdoJobs

A significant move in the state is the Edo State Skills Development Agency (EdoJobs), which was established to provide training, funding and support to SMEs in the state. EdoJobs offers a range of services to entrepreneurs and investors, including business advisory, mentorship, and access to finance.

The State has also established the Edo State Innovation Hub, which provides training and capacity building for SMEs in the technology industry, as well as access to funding and other resources.

8. Kaduna

Kaduna State has invested in infrastructure development, particularly in the transportation sector. The state has also launched several initiatives to support entrepreneurship and attract investment.

Business performance; 0.12, skills acquisition; 0.12, innovation and technology adoption; 0.17, perception of future opportunities; 0.20, enabling business environment; 0.05, index score; 0.66 and rank of 8.

Kaduna Startup & Entrepreneurship Programme (KADSTEP)
Kaduna Startup & Entrepreneurship Programme (KADSTEP)

Kaduna State has built notable entrepreneurship development initiatives including the Kaduna Startup & Entrepreneurship Programme (KADSTEP), which was established to provide training, funding and support to SMEs in the state. KADSTEP offers a range of services to entrepreneurs and investors, including business advisory, mentorship, and access to finance.

In addition to KADSTEP, Kaduna State has also established the Kaduna State ICT Hub, which provides training and capacity building for SMEs in the technology industry, as well as access to funding and other resources.

9. Ebonyi

Ebonyi State has a relatively young population and has invested in human capital development. The state has also launched several initiatives to support entrepreneurship and innovation.

Ebonyi State Ministry of Empowerment and Job Creation was established to provide training, funding, and support to SMEs in the state. The ministry offers a range of services to entrepreneurs and investors, including business advisory, mentorship, and access to finance.

The State has also established the Ebonyi State Centre for Entrepreneurship Development, which provides training and capacity building for SMEs in various industries, as well as access to funding and other resources.

With rank of 9, Ebonyi States business performance was 0.15, skills acquisition was 0.12, innovation and technology adoption; 0.15, perception of future opportunities; 0.19, enabling business environment; 0.04, and index score; 0.65.

10. Benue

Benue State has a growing agriculture sector and has launched several initiatives to support agribusiness and entrepreneurship development, such as the Benue State Micro, Small and Medium Enterprises Development Fund, which provides access to affordable loans for SMEs in the state, and the Benue State Youth Empowerment Scheme, which provides training and funding for young entrepreneurs.

The private sector is also playing a significant role in entrepreneurship development in Benue State. The state has a growing agriculture and agribusiness ecosystem, with several startups and agribusiness incubators, and companies such as Dangote Group, which produces a range of products from cement to sugar, are contributing to the growth of the local economy.

Business performance for Benue State was measured at 0.13, while skills acquisition indicated 0.14. Innovation and technology adoption was 0.15, perception of future opportunities; 0.20, enabling business environment; 0.05, index score of 0.65 and ranked 10.

These 10 states are leading the way in entrepreneurship development in Nigeria, creating a supportive environment for startups and small businesses to thrive. 

The ranking is a useful tool for policymakers, investors, and entrepreneurs to identify areas for improvement and investment. 

By supporting entrepreneurship, Nigeria can unlock its full economic potential and create jobs for its growing population.

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Ichie Orazulike Receives FATE Foundation Model Entrepreneur of the Year Award https://techeconomy.ng/ichie-orazulike-receives-fate-foundation-model-entrepreneur-of-the-year-award/ https://techeconomy.ng/ichie-orazulike-receives-fate-foundation-model-entrepreneur-of-the-year-award/#respond Sun, 04 Dec 2022 19:16:27 +0000 https://techeconomy.ng/?p=90502 Pan African business magnate and renowned entrepreneur, Ichie (Dr) Nnaeto Orazulike has won this year’s FATE Foundation Model Entrepreneur of the Year (FME) Award.

According to the organisers, Fate Foundation, the award was initiated 2001 to celebrate entrepreneurs who are significantly contributing to the nation’s socio-economic growth and development.

Some of the past awardees include Ibukun Awosika, Aliko Dangote, Cosmas Maduka, Nike Ogunlesi, Frank Nneji, Stella Okoli and host of others.

Ichie Orazulike who is a Non-Executive Director of Ecobank Nigeria, is the founder and Group Managing Director of Genesis Group, a proudly Nigerian conglomerate with interests in Restaurants, Cinemas, Hotels, food production and Oil and Gas services and production.

At the presentation of the award in Lagos on Thursday, the organisers stated that the selection of Ichie Orazulike which received unanimous approval of its Board was based on merit, stating that he met with the nomination criteria which includes “entrepreneurial leadership and sectoral impact; key values and ethical standards of the Entrepreneur/Founder, demonstration of social responsibility and impact including job creation, notable accomplishments and recorded business milestones.”

Further, Fate Foundation noted that Ichie Orazulike has over the years demonstrated high level of entrepreneurial skills and leadership in superintending over different and diverse businesses, stressing that “Your entrepreneurial journey with Genesis Group is truly admirable and we commend the significant impact you have made with Genesis to become a world-class institution in the hospitality and entertainment space, creating jobs and also significantly impacting the growth of other businesses and sectors.”

In his response, Ichie Orazulike thanked Fate Foundation for the recognition and  honour bestowed on him, stressing that he would continue to contribute to Nigeria’s socio-economic growth and development. Ichie Orazulike is a graduate of the University of Nigeria, with a Bachelor of Science in Accounting degree and an alumnus of Havard Business School Executive Training Programme.

He was awarded the prestigious Honorary Doctor of Science degree by the University of Port Harcourt in 2015.  In 2021, he won the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) 60-anniversary awards for his exemplary role in the entertainment and hospitality sector.

Ichie Orazulike was also honored this year with the conferment of the national honor of Officer of the Order of the Niger by His Excellency, President Muhammadu Buhari. He is a recipient of   many awards at national and state levels.

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Stanbic IBTC Partners FATE Foundation, Upskills 2000 SMEs https://techeconomy.ng/stanbic-ibtc-partners-fate-foundation-upskills-2000-smes/ https://techeconomy.ng/stanbic-ibtc-partners-fate-foundation-upskills-2000-smes/#respond Tue, 18 Oct 2022 06:39:07 +0000 https://techeconomy.ng/?p=86568 In its commitment to upskill and improve Small and Medium Scale Enterprises (SMEs), Stanbic IBTC Bank, in partnership with the FATE foundation, has trained 2000 SMEs in Nigeria.

The training of SMEs is in line with the financial institution’s mandate of driving business growth and building capacities to create successful enterprises in the country.

Nnaemeka Obasi, Head, Enterprise Banking (SME) Stanbic IBTC Bank, stated that the organisation created the SME Capacity Building Program to support business owners across Nigeria. SMEs are regarded as the engine rooms of economies as well as important catalysts in a nation’s development.

He said: “At Stanbic IBTC, we recognise the importance of SMEs to the nation’s economy. The Stanbic IBTC SME Capacity Building Program is aimed at equipping SMEs with the skills and competencies to build sound and viable businesses, improve their capacity to access available credit, and enhance their ability for efficient funds utilisation.”

“The program was created to educate various business owners across various sectors. Each course had 10 modules, and each module had video lessons, graded quizzes, and downloadable workbooks,” Nnaemeka added.

The Head, Enterprise Banking (SME) Stanbic IBTC Bank, noted that the capacity-building sessions were designed to enlighten and empower the entrepreneurs.

Obasi, said that the financial institution implemented the capacity building program for individuals through online training and advisory sessions to enable business growth in the SME sector.

According to him, “SMEs are recognised as the main engine for growth and development because of their significant contributions to the nation’s gross domestic product (GDP). It is not in doubt that many developed countries who enjoy a growing and booming economy today, attribute most of their achievements to a flourishing SME sector.”

“Due to their numerous numbers, size and nature of operations, the role of SMEs in promoting indigenous sources of growth and creating viable businesses for accelerated economic expansion and development cannot be overlooked. We have demonstrated our commitment to SMEs by training and upskilling them in their various business fields. We are confident that these capacity sessions will give their businesses a significant boost in the years to come,” Nnaemeka said.

To learn more about Stanbic IBTC’s drive to support SMEs, check here.

The bank also hosted the 2022 Stanbic IBTC Africa China Trade Expo, a two-day hybrid conference and exhibition themed: ‘Synergy for Growth’.

https://techeconomy.ng/2022/10/redefining-trade-relations-between-nigeria-and-china-stanbic-ibtc-bank/

This event was put together to promote synergies between the Africa-China trade community with a unique focus on export.

The conference featured seasoned professionals and experts from the Nigerian Export Promotion Council (NEPC), the Chinese consulate and Standard Bank.

Other exhibitors that featured at the event include Zeenab Export Nigeria Limited and Zhejiang International Trading Supply Chain Company (Guomao).

Another highlight of the event was the display of exporters from Nigeria and China at the virtual exhibition.

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