General News
Osinbajo Lauds IB PLC’s Kickstart Initiative, says It’s Exemplary
Vice President Yemi Osinbajo has lauded International Breweries Foundation, the social investment vehicle of International Breweries Plc, for awarding grants of over N73 million to 90 deserving young entrepreneurs through its Kickstart initiative.
The landmark award ceremony took place on Thursday, 28 November 2019, at the Edmark Centre in Lagos.
The vice president, who was represented by the Minister of State for Labour and Employment, Mr Festus Keyamo, said the Kickstart initiative is a very commendable one that can be replicated by other private sector players to augment government’s empowerment programmes to help reduce unemployment and empower Nigerians economically.
According to the vice president, government can take key learnings from the way Kickstart is structured, which ensures integrity of the programme.
Delivering his address at the event, Professor Osinbajo said, “The very thorough process by which Kickstart selects its heroes, beneficiaries, the training, the bootcamp, and mentorship are all very commendable and it is something we as government can learn from when we open it up to genuine beneficiaries”
Kickstart was conceptualised to empower young Nigerians, 18-35 years, and help reduce unemployment while promoting decent work and economic growth in line with Goal 8 of the UNSDGs.
It is an innovative youth entrepreneurship programme that empowers young people with finance, capacity building and mentorship to enable them implement diverse entrepreneurial ventures in Agriculture, Recycling, Climate Actions, Education, ICT, Crafts and Manufacturing among others.
In his speech, Chairman of the Advisory Board of International Breweries Foundation, Mr Peter Bamkole, said, “Indeed, we envision the initiative as the nursery of innovation in business, where we plant, nurture and transfer by way of training, granting and mentoring. We are optimistic that every successful beneficiary will pull others out of unemployment because every job they create will take about three other people out of the job market.”
Bamkole said the 2019 Kickstart, which was pan-Nigeria, has revealed the hunger for a national programme as applications were received from all 36 states and the FCT. He added that the acceptance “has reinforced our belief in the potential of Kickstart to impact and influence the youth population in the country.”
In his presentation, entitled Harnessing the Potential of the Youth for National Development through Innovation, Employability and Social Investment, Professor Kingsley Moghalu, while commending International Breweries for such an impactful initiative as Kickstart, noted that indeed the nation must begin to invest in its youth in the areas of education, skills acquisition, vocational training, as well as encouraging science and technology if the country must achieve sustainable growth and development.
Moghalu further recommended that “we can replicate the Kickstart programme on a very large basis, we can work with the private sector in doing that”.
The beneficiaries were effusive in their praise of the Kickstart initiative. They particularly commended the integrity of the programme in picking candidates based on merit, the impactful training in the bootcamp, the one-year mentorship, and most importantly the grant. According to a beneficiary Aishatu Adekoya, who is into snail farming, “My Kickstart journey has been amazing and interesting.
The training was intense and the coaches were amazing. I want to assure that I will use this grant to grow my business. I say a big thank you to Kickstart and thank you to International Breweries Foundation.”
According to IB Plc, Kickstart started with the application phase in June 2019 and progressed to the bootcamp phase where 227 entrepreneurs were trained on the key aspects of business management. A total of 167 made it to the Pitch Fest, the penultimate phase of the project wherein the entrepreneurs defended their business plans to an independent panel of judges.
The final 90 awardees had their businesses awarded the grants because they met the set criteria, including: business maturity, experience of the applicant to run the business, financial statement of the business and overall business concept.
The event witnessed the launch of the Kickstart alumni group, a platform where beneficiaries from the 2016 set can exchange ideas and information on business trends and developments as well as cross sell among themselves.
Kickstart 2019 edition is the fourth in the series and brings the total number of direct beneficiaries to 708; 1,416 indirect beneficiaries’ while the total amount of grants so far awarded to beneficiaries since 2016 is N325,136m.
The company revealed that while the total grants given out during the awards is N73, 836,000, in reality, it is spending over N150, 000,000 if it includes the cost of training, mentoring and the Trophy Academy which it plans to build in its Gateway brewery.
This will be a training school for skills acquisition for young Nigerians in the different fields of entrepreneurship. IBPLC also said the kickstart initiative has generated 571 jobs while total jobs generated are expected to increase to 1,392 by 2021.
The Gathering on 100 made its latest stop in Enugu over the weekend, bringing together hundreds of young Nigerians for a day of networking, fun, entertainment, and business opportunities.
The event, previously held in Lagos and Aba, arrived in Enugu as the city gains recognition as one of Nigeria’s emerging innovation and startup hubs. Recent ecosystem reports rank Enugu among the country’s leading startup cities. The South-East region now accounts for more than half of identified startups across the South-East and South-South, highlighting the region’s growing role in Nigeria’s entrepreneurial landscape.
A major highlight of the Enugu edition was the Pitch-a-thon competition, where three entrepreneurs received a combined ₦5 million in grants to support their business growth. More than 100 entrepreneurs applied for the competition, with 10 finalists selected to pitch before a panel of judges. At the end of the contest, Velas Global Nutrition Limited emerged as the overall winner, securing ₦2.5 million. Werxio, founded by Donatus Prince, received ₦1.5 million, while Whipcare Company was awarded ₦1 million.
These grants address a persistent funding challenge. According to the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the country is home to over 39 million MSMEs, contributing nearly half of Nigeria’s Gross Domestic Product and accounting for about 84 per cent of employment nationwide. Despite this, access to finance remains a significant obstacle to business growth.
For Chizoba Osuji, founder of Velas Global Nutrition Limited, the funding facilitates the expansion of a business built on years of research. Her company processes indigenous crops into shelf-stable blends, supporting nutrition and local women smallholder farmers. “This is motivation to keep making Nigerians healthier through better food,” she remarked, noting the grant will fund semi-automated equipment to increase production capacity to 20 tonnes monthly.
She added that the ₦2.5 million grant would be used to acquire semi-automated equipment capable of increasing production capacity to about 20 tonnes monthly. Beyond increasing output, the expansion is expected to create additional opportunities for women smallholder farmers across the South-East who supply many of the raw materials used by the company.
Speaking on the initiative, MTN’s Regional General Manager (Sales), Callima Inino, represented by Peter Kajovo, said The Gathering on 100 was designed to provide young Nigerians with platforms to connect, learn, showcase their talents and access opportunities that can help them grow.“We want to encourage youths to live their best lives and have fuller expressions of themselves,” he said.
As the Enugu edition concludes, the energy of the South-East’s startup scene remains evident. The Gathering on 100 continues its nationwide tour, connecting more young founders with the visibility and support they need. Stay tuned to discover where the tour will land next as it moves to its next exciting location.
Renewable energy firm Daystar Power Group has expanded its installed solar capacity across West Africa through a partnership with Nestlé, bringing total deployments to 6,884 kilowatt-peak (kWp), or nearly 7 megawatts (MW), in what the company describes as one of the largest commercial and industrial solar partnerships in the region.
Four manufacturing facilities across Nestlé sites in Côte d’Ivoire, Ghana and Senegal are now operational, with installations located in Abidjan, Tema and Dakar.
Daystar Power has installed 3,447 kWp across two sites in Abidjan, Côte d’Ivoire. In Ghana, a 2,547 kWp system powers Nestlé’s Tema factory, while in Senegal an 890 kWp installation operates at the Dakar facility.
The company said each system is designed to deliver measurable environmental impact, including reduced greenhouse gas emissions and improved energy resilience.
The installations are tailored to local operational and grid conditions to ensure reliable renewable energy supply while supporting Nestlé’s net-zero ambitions and its commitment to reducing greenhouse gas emissions.
“Nearly 7MW across four Nestlé facilities is a number we are proud of, but what it represents matters more than the figure itself. It means that one of the world’s most demanding manufacturers has tested our model, trusted it, and come back. Our job now is to keep earning that across every market where industry needs energy it can count on,” said Yischai Beinisch, CEO of Daystar Power Group.
Samer Chedid, CEO of Nestlé Central and West Africa Region, said: “This investment reflects our commitment to building a business that not only grows but does so responsibly.
“By advancing solar energy projects in Ghana, Côte d’Ivoire and Senegal, we are embedding sustainability into our growth, reinforcing our role as a force for good, creating long-term value for communities and ensuring that our footprint actively contributes to a cleaner, more resilient future.”
The National Credit Guarantee Company Limited (NCGC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have signed a Memorandum of Understanding (MoU) aimed at supporting access to finance for Micro, Small and Medium Enterprises (MSMEs) in Nigeria.
The agreement was signed at the NCGC headquarters in Abuja and outlines areas of cooperation between the two agencies, including financial literacy programmes, credit guarantee support, capacity building, and other initiatives targeted at small businesses.
Speaking at the signing ceremony, NCGC Managing Director and Chief Executive Officer, Dr. Bonaventure Okhaimo, said the partnership is intended to provide a framework for expanding financing opportunities available to MSMEs.
According to him, small and medium-sized enterprises play a significant role in economic activity and employment generation across the country.
Okhaimo said NCGC has facilitated ₦32.78 billion in credit and provided over ₦13.09 billion in guarantees through its partnerships with financial institutions. He added that 1,478 businesses and entrepreneurs have benefited from the financing interventions, with 1,682 jobs reportedly created or sustained.
Also speaking, SMEDAN Director-General, Charles Odii, said the collaboration would enable the agency to connect more small businesses with available financing opportunities, particularly Nano and Micro enterprises that often face challenges accessing credit.
The two organisations said the partnership would also involve stakeholder engagement and awareness campaigns to provide information on financing options and the use of credit guarantees in lending arrangements.
The agreement forms part of ongoing efforts by both agencies to support enterprise development and improve access to financial services for small businesses across the country.
Observers say access to finance remains one of the major constraints facing Nigerian MSMEs, making collaborations between public institutions an important aspect of broader economic development initiatives.
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