Prince Omoha Foundation funds over 100 Nigerian SMEs with N250,000 each

Prince Omoha Foundation has funded more than 100 Small and Medium-sized Enterprises in Nigeria as part of the foundation’s annual none-refundable seed capital grants program. which is aimed at supporting young men and women entrepreneurs to boost socio-economic development and eradicate poverty in the country.

The 2024 beneficiaries were selected from a pool of over 3500 applications, based on their innovation, performance, and growth potential to create jobs and eradicate poverty in the country.

102 Beneficiaries were selected from all 36 states and FCT in the country consisting of both new start-ups and existing small businesses, Each entrepreneur received a N250,000 grant.

The 2024 Prince Omoha Entrepreneurship Empowerment have undergone online business training, mentorship and coaching.

The President and Founder of the Prince Omoha Foundation, Prince Omoha J. Nduka stated, “To you, young African entrepreneurs – work hard, dream big, and be very focused. You must continue to think of the impact. The entrepreneurship journey is not linear – there are ups and downs, but by staying focused and resilient, ultimately success will come your way. The future of our nation is in our hands. What we do as entrepreneurs will go a long way in lifting Nigeria and Africa out of poverty. I am glad that our female entrepreneurs are doing very well, with 54% representation this year.”

Prince Omoha added: “To our Nigerian leaders – these young, intelligent, energetic hardworking, resilient Nigerians are ready to go. We need to keep creating the right enabling environment to enable our young ones to succeed. We must realise that their success is success for all of us on the continent. We must prioritise them because nations and continents that prioritise their people, succeed. To my fellow business leaders, let us realise that in the 21st century and beyond, it is about impact, legacy and how we work together to power people out of poverty. It is such a great feeling to see 102 young Nigerian males and females also commence their entrepreneurial journeys today.”

“There’s no better way to celebrate life than by empowering others,” Prince Omoha stated during the event. “These grants are not just financial support; they’re a vote of confidence in the innovative spirit of Nigerian entrepreneurs.”

Also Speaking at the event, the Executive Director of The Prince Omoha Foundation, Mrs Chioma Ugwu, concluded the event by stating: “Today, we have trained over 100 times more young African entrepreneurs than we have trained from 2018 to 2023 combined. Today in 2024, we will be paying out a record of N25,500,000 million naira directly to the hands of Nigerian entrepreneurs from all 36 states across the country. This is impact. We are not giving out this money because we have much, but we are committed to it. This money doesn’t come from any support organisation or donations, this was made possible by conforming with the Prince Luxury Group (PLG) Corporate Social Responsibility. we advised you all to use this seed with Goodwill and for its purposes to ensure more people are employed and empowered through these funds”.

The Prince Omoha Foundation is the Private Nonprofit Organisation of Nigerian Entrepreneur, and Philanthropist, Prince Omoha J. Nduka. The Foundation was Established in 2018 as the Prince Omoha Foundation, to empower young Nigerian entrepreneurs across Nigeria and Africa. enhancing opportunities for social change through strategic investments that improve health and well-being, promote quality education and broaden economic empowerment opportunities, as well as supporting the orphanage community in a way of giving back to society.

The foundation is the corporate social responsibility arm of the Prince Luxury Group. It is responsible for contributing over 100 Million in charitable funds in Nigeria and Africa.