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The Ooni of Ife, Oba Adeyeye Ogunwusi and the Small and Medium Enterprise Development Agency, SMEDAN, have launched N1 billion Women Owned Micro Businesses, WOMB.
The fund among other things would aid businesses owned by women to thrive.
The fund, is named after Madam Abibatu Mogaji Tinubu, mother of the president.
The monarch also honoured 100 African youths who have distinguished themselves in their careers at an event held at the Oduduwa Hall, Obafemi Awolowo University(OAU), Ile-Ife, under the 2024 4th Royal African Young Leadership Forum on Saturday.
Speaking on the theme: “African of the future: Better together”, Ooni explained that the forum’s target is to raise people from grass to grace.
According to the monarch, we will raise a lot of people from grass to grace. The Africa Chamber of Commerce will continue to drive it. This is the reason why I came to the throne. We will work together with people for the betterment and great tomorrow.
“Through RAYLF, I am committed to leading young people across Africa to reshape the future of the continent by harnessing their potential to address critical challenges that are bedevilling the shining light of the continent’s greatness”.
The Director General of the Small and Medium Enterprise Development Agency (SMEDAN), Charles Odii, said the new RAYLF will be the biggest network to drive the economy.
Odii, while signing the agreement with Oni, noted that the purpose SMEDAN partnered with RAYLF is to formalise a platform in launching the N1 billion women owned micro businesses project.
“The project is an initiative envisioned by His Royal Majesty, the Ooni of Ife, to train, fund mentor and support female entrepreneurs across Nigeria with access to local, regional and global markets.
SMEDAN committed to providing a N1 billion fund to support the WOMB project.
“This collaboration aims to enhance the capacity of WOMB through comprehensive training, funding, mentorship and access to market programmes administered by RAYLF. Both parties agreed to work together in good faith, ensuring the successful implementation and sustainability of the WOMB project."
