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Unity Bank Empowers 400 Fresh Graduates, Invests Over N100 Million in Corpreneurhip Challenge

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Unity Bank Empowers 400 Fresh Graduates, Invests Over N100 Million in Corpreneurhip Challenge
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Unity Bank Empowers 400 Fresh Graduates, Invests Over N100 Million in Corpreneurhip Challenge

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In a testament to its commitment to fostering entrepreneurship and economic growth, Unity Bank has empowered no fewer than 400 fresh graduates through its pioneering entrepreneurship development initiative, the Corpreneurship Challenge, over the past five years. This impactful program, launched in 2019, has become a cornerstone of the bank’s efforts to support the next generation of Nigerian entrepreneurs and drive the nation’s economic prosperity.

The Corpreneurship Challenge, a collaborative effort between Unity Bank and the NYSC Skills Acquisition and Entrepreneurship Development (SAED) program, is designed to provide a platform for fresh graduates participating in the one-year compulsory National Youth Service Corps (NYSC) to showcase their business ideas and access valuable support. The initiative features a business pitch competition, where participants present their entrepreneurial plans and stand a chance to win substantial business grants.

Initially piloted in four states – Lagos, Edo, Ogun, and Abuja – the Corpreneurship Challenge has since been scaled up to 10 states, including Taraba, Kogi, FCT, Yobe, Ogun, Ebonyi, Enugu, Adamawa, and Imo. This expansion underscores the program’s growing impact and Unity Bank’s commitment to reaching a wider audience of aspiring entrepreneurs across Nigeria.

Unity Bank Empowers 400 Fresh Graduates, Invests Over N100 Million in Corpreneurhip Challenge

To further bolster the initiative’s impact, Unity Bank recently increased the prize money to 16 million Naira per stream, allowing participants who emerge as winners in the business pitch competition to receive even more substantial grants – N800,000 for first place, N500,000 for second place, and N300,000 for third place. This increased investment reflects the bank’s unwavering dedication to empowering young entrepreneurs and fueling their business ventures.

Olufunwa Akinmade, the Divisional Head of Digital Banking and Fintech Partnerships at Unity Bank, who spearheaded the design and launch of the Corpreneurship Challenge, expressed satisfaction with the initiative’s remarkable success. “The Corpreneurship Challenge has proved to be a viable enterprise development and empowerment initiative due to its high level of success in supporting budding entrepreneurs in the target demographic, as well as the size of the problem it is designed to solve for the Nigerian economy,” Akinmade noted.

Adenike Ambimbola, the Divisional Head of Retail and SME Banking at Unity Bank, echoed Akinmade’s sentiments, highlighting the program’s innovative approach to youth empowerment and job creation. “We have seen the positive impact of the Corpreneurship Challenge over the past five years because of its holistic strategy of supporting budding entrepreneurs with mentorship, skills development, and financial backing,” Ambimbola remarked.

Unity Bank Empowers 400 Fresh Graduates, Invests Over N100 Million in Corpreneurhip Challenge

The Corpreneurship Challenge’s far-reaching impact is evidenced by the success stories of its participants. The initiative has not only provided the much-needed financial support but has also equipped young entrepreneurs with the necessary skills, mentorship, and resources to transform their business ideas into thriving enterprises. This has, in turn, contributed to the growth of the Small and Medium Enterprise (SME) sector in Nigeria, a vital component of the country’s economic backbone.

As Unity Bank continues to invest over 100 million Naira in the Corpreneurship Challenge, the bank’s commitment to empowering fresh graduates and fostering entrepreneurship remains unwavering. This impactful program serves as a shining example of the private sector’s role in driving economic development and creating opportunities for the next generation of Nigerian business leaders.

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