Unity Bank Announces Winners of N10 Million Naira Entrepreneurship Challenge Grant

NIGERIAN lender, Unity Bank Plc, has distributed a N10 million business grant to 30 corps members who emerged victorious from the eighth edition of its flagship entrepreneurship development initiative, known as Corporate Challenge.

The winners emerged after a business pitch that took place in 10 states: Rivers, Delta, Sokoto, Edo, Abuja, Akwa-Ibom, Osun, Kano, Bayelsa and Enugu, recently.

At the Rivers State NYSC Orientation Camp in Nonwa Gbam Tai, winners included Moses Obianuju Gloria, a fashion entrepreneur whose business plan won a N500,000 grant for a fabric production company; Emmanuel Godwin Adole, an aspiring commercial rice farmer who won a 300,000 Naira grant and Okotie Racheal Dokubere who won a 200,000 Naira grant to support her fashion production outfit specializing in office and outdoor wear for women.

In Delta State, where the Corppreneurship Challenge also debuted in this edition, Adegoke Blessing Hezekiah, a fish farmer, emerged as the big winner to claim the N500,000 grant, while Egbelelo Lucky Etanami , a fashion entrepreneur and Tob Tamaraumien Ruth, emerged the first and second runners-up to claim the N300,000 and N200,000 prizes, respectively.

Other winners from other states were also chosen from applicants whose business plans included fish production, poultry farming, fashion, soap and cake making, printing, pigsty and beverage making.

To come out on top, their business plans were evaluated based on originality, marketability, potential future employability of the product, and knowledge of the business.

Speaking at the Grand Final in Delta State, Group Head, Retail, e-Business and SME Banking, Unity Bank Plc, Mr Olufunwa Akinmade said the competition has gradually become the Nigeria's premium business plan competition for emerging entrepreneurs.

“When we launched the initiative in 2019, we set out to inspire a new generation of entrepreneurs in Nigeria. So far, the initiative has resonated with the target audience and there is no denying that this will continue to have a huge impact on job creation across the country.”

Represented by Mr. Abu Igemohia Mohammed, Regional Manager, Edo/Delta Region, Akinmade, reiterated, "As we argued, grants are not a loan and we want the money to be directed to profitable businesses that have been chosen. We encourage winners to continue learning the rudimentary lessons needed to build a successful business.

"We emphasize that the aspiring entrepreneurs who participate in this initiative are constantly thinking about the challenges they will face and are putting the same energy that they all put into preparing for this competition into their businesses as they face to their upcoming post-service year."

He said the bank would maintain the program to achieve a record impact in supporting entrepreneurship and job creation.

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The Corpreneurship Challenge, which has earned the bank national recognition for its impact on youth empowerment and job creation, continued to generate growing interest among corps members, attracting more than 2,000 candidates and participants in each edition.

In partnership with the NYSC Skill Acquisition and Entrepreneurship Development (SAED), the initiative highlights a business presentation that offers participants the opportunity to showcase their business plans and have a chance to win up to N500,000 in cash. the business subsidy.

So far, Unity Bank has invested over N100 million in the initiative which has now produced 88 winners since its launch.