In a bid to elevate entrepreneurial endeavors and eradicate financial constraints faced by startups, Access Bank has disbursed a total of N30.5 million to award over 100 National Youth Service (NYSC) members, across several states in Nigeria. The initiative, which spanned Abuja, Imo, Kebbi, Abia, Adamawa, Jos, Delta, Akwa Ibom, Ogun, and Cross River States, saw standout winners receive N1 million each.
Bayo Famoroti, Branch Manager of Access Bank in Wuse Zone 4, Abuja, spoke at the Accessprenuer program, highlighting the initiative’s objectives to nurture youth potential, stimulate economic growth, and address the prevalent funding challenges encountered by startups.
Famoroti emphasized Access Bank’s commitment to supporting the aspirations of young entrepreneurs, citing research indicating that financial constraints often lead to the failure of businesses, particularly startups. Through the bank’s all-for-one scheme, they aim to mitigate this barrier by providing financial assistance to young entrepreneurs.
Tosin Ojo, a crochet entrepreneur from the Abuja camp, expressed gratitude to Access Bank for the opportunity provided, having won the 1 million Naira competition prize, and the accompanying social media contest prize of N50,000.
Similarly, Johnson, a poultry business enthusiast from Adamawa, thanked Access Bank for empowering him with seed capital to pursue his entrepreneurial aspirations as he also won the competetion prize of 1 million Naira.
In addition to the star prize winners, Access Bank rewarded other corps members nationwide, with amounts ranging from N400,000 to N100,000 for those in the 3rd to 10th positions, respectively.
The Accessprenuer scheme has significantly impacted thousands of corps members over the years, providing vital support to kickstart new businesses and expand existing ventures.
To date, the initiative has injected over N250 million in seed capital to empower more than 600 corps members. Moreover, a vibrant Facebook community serves as a platform for Accessprenuer winners to engage with and inspire other youths, boasting a membership of approximately 5,000 individuals.
Access Bank’s unwavering commitment to nurturing entrepreneurship continues to foster economic growth and empower the next generation of business leaders across Nigeria.
