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YOTSI launches entrepreneurship fund for African youths, women
The Youth off the Street Initiative (YOTSI) founded by Comrade Kennedy Iyere, a humanitarian activist and social entrepreneur has launched a business financing intervention programme for the support of youth and women entrepreneurs in Africa.
The business financing scheme known as “FUND-YES” was launched on Tuesday 8th August, 2023 at the Merit House located in Maitama, Federal Capital Territory (FCT), and attended by top business leaders in the country.
Speaking at the unveiling ceremony, Comrade Iyere said life is becoming tougher for youths and women in Nigeria with millions of youths roaming the streets in utter frustration and without hope of a meaningful future ahead of them.
“Even with their degrees, millions of youths have remained unemployed for lack of job opportunities. It is therefore, not a surprise that Nigeria’s youths have become more restive, posing security threats beyond the usual.
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“The right way to avert this looming disaster is to create economic and job opportunities for youths and women but under the current economic circumstances, entrepreneurship remains the only option available”‘, Iyere said.
Iyere affirmed that the youths and women of Nigeria are very hardworking people, who if supported with funds, will turn themselves into successful entrepreneurs, he added that the need to offer such assistance, is the key factor which inspired and propelled him to establish “FUND-YES”.
According to Iyere, “FUND-YES” is a joint business financing programme and enterprise development fund for youths and women in need of funding assistance to enable themselves to start up a micro or small business, or to scale-up and grow their existing micro and small businesses into a medium-sized enterprise.
“Iyere stated that “FUND-YES” will provide flexible business financing opportunities for youths and women to engage themselves in various entrepreneurships and become owners of their own businesses and creators of their own jobs.
He added that “entrepreneurship” is the panacea for Nigeria’s chronic youth unemployment, high youth crime, as well as the security risks that associate with these factors.
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“It is a multifaceted business financing scheme, anchored by Youths Off The Street Initiative (YOTSI), in response to the need to lift millions of youths and women out of unemployment and poverty with a view to mitigating youth crime and helping women to reinforce household economic security, as many women are being empowered to make money to support their families.
Ndandok Limaro Thomas, the first beneficiary of “FUND-YES” received an enterprise grant of ONE MILLION NAIRA (N1,000,000) from Comrade Kennedy Iyere, which was paid into her account opened with Fidelity Bank for the purpose of enhancing her entrepreneurial success.
She is from Jaba Local Government of Kaduna State, currently undergoing apprenticeship in Carpentry (training to become a Carpenter). She is a graduate of Mass Communication from the University of Jos (UNIJOS). Known for its strong support for MSMEs.
Fidelity Bank is among other top banks chosen as the partnering banks for “FUND-YES”.
Iyere assured that “FUND-YES” will support her with TEN MILLION NAIRA (N10,000,000) once she has completed her apprenticeship within the next Six Months.