The Small and Medium Enterprise Development Agency (SMEDAN) and Oba Adeyeye Ogunwusi, the Ooni of Ife, have introduced N1 billion in Women Owned Micro Businesses (WOMBs). The fund is named for the president’s mother, Madam Abibatu Mogaji Tinubu, and is intended to support women-owned enterprises.
At an event held on Saturday as part of the 2024 4th Royal African Young Leadership Forum at the Oduduwa Hall, Obafemi Awolowo University (OAU), Ile-Ife, the monarch also celebrated 100 African youngsters who have excelled in their vocations. Speaking on the topic of “African of the future: Better together,” Ooni clarified that the goal of the event is to elevate individuals from the status of grass to that of grace.
We shall lift many people from grass to grace, the emperor said. It will be led by the Africa Chamber of Commerce going forward. I ascended to the throne for this reason. Together, we shall strive for a brighter tomorrow and advancement of society.
“By utilising their potential to tackle pressing issues that are undermining the shining light of the continent’s greatness, I am dedicated to inspiring young people throughout Africa to reshape the continent’s future through RAYLF.”
The new RAYLF will be the largest network to propel the economy, according to Charles Odii, Director General of the Small and Medium Enterprise Development Agency (SMEDAN).
Odii stated that SMEDAN’s partnership with RAYLF is intended to formalise a framework for the launch of the N1 billion women owned microbusiness project while they were signing the deal with Oni.
His Royal Majesty, the Ooni of Ife, conceived of the project as an effort to provide female entrepreneurs in Nigeria with access to local, regional, and international markets through training, funding, mentoring, and assistance. SMEDAN promised to help the WOMB project with a N1 billion money.
With the help of extensive training, financing, mentorship, and access to market activities run by RAYLF, this partnership seeks to increase WOMB’s capabilities. Both sides committed to cooperating in a sincere effort to make sure the WOMB project is implemented successfully and is sustainable. As to the agreement, “This partnership highlights our dedication to promoting economic growth, empowerment, and sustainable development for female entrepreneurs in Nigeria.”
