NGO set to train, finance aspiring entrepreneurs
In about five years’ time, lots of entrepreneurial generals or financial gurus are expected to emerge in our society. This is the expectation of Christopher Imumolen, founder of the non-governmental organisation – UNIC Empowerment.
UNIC Empowerment Initiative is a foundation set out to empower the less privileged in society. Its activities are kicking off January 2014. Imumolen says, “I saw that even with a lot of professional trainings, and youth empowerment programmes, a lot of people are still jobless and need to be aided. The foundation has members with sound entrepreneurial ideas on how to train aspiring entrepreneurs. We realise that entrepreneurship is the key to the unemployment problem in the country. After training, we are going to assist the trainees financially to start businesses of their choice by giving loans or grants, depending on the needs of the individual.”
But before the empowerment, the individuals would be expected to register as members of the foundation. “Membership is free,” says Imumolen. “We shall have one-on-one sessions with the trainees to ascertain their needs. The businesses of the beneficiaries will be monitored by the foundation members and they will be given business support services. If a person cannot continue the business, he would have to repay the loan. If it is a grant, the beneficiary will have to transfer the money or business to another trained member of the foundation waiting in line for support. The monitoring for those given grants will be more. But we expect that all the businesses we support will stand the test of time, create employment for others and the owners will join in supporting newer members of the foundation that need assistance, especially in mentoring.”
Imumolen says the foundation is being funded by individuals who have struggled in life but have been able to achieve success, and they want to give back to the society by assisting others to be financially empowered. “The NGO also has some international backing, anyone interested can join, they will not be expected to contribute money at the beginning, but to get financial support, they would need referral from a member of the foundation. To ensure that they use the funds given to them well, they will sign an agreement to that effect and would have guarantors,” he explains.
He adds, “Successful individuals who want to assist members of their family financially can do it through the foundation to ensure that the beneficiary would use the funds judiciously and would be well-monitored and assisted to succeed.”
On the inspiration for setting up the foundation, Imumolen says, “I am a mechanical engineer and I own an oil and gas business. I have toured round the country and I see so many people suffering. The government has its own role to play but we are not here to blame the government but to let the people know that in whatever condition they find themselves they have the potential to make it in life. We shall help them ensure that the business they start grows.”
He further says, “We have two categories of membership, people who come for assistance and people who are successful financially but are experiencing pressures from family and friends to give financial support. They just need to send those people they want to assist to us. They can then stand as guarantors. If no one at all is ready to stand as a guarantor for an individual that needs financial assistance, that already says a lot about the individual.”
Unveiling another thrust of the NGO, he says, “We would also be sharpening people’s skills to increase their chances of getting employed. By discussing with those in need of assistance, we would know whether they would be better off starting a business or increasing their skills set to get a good job. For instance, we have a welding school where people can increase their skills along that line.”
By: OLUYINKA ALAWODE