News
Google opens applications for N75m Hustle Academy Fund for Nigerian SMBs
Google opens applications for N75m Hustle Academy Fund for Nigerian SMBs
Google on Thursday called for applications for the Hustle Academy SMB Fund, a N75 million equity-free fund dedicated to the Nigerian Small and Medium Businesses (SMBs).
Head, Brand and Reputation, Sub Saharan Africa, Google, Mojolaoluwa Aderemi-Makinde, said in a statement that the initiative would offer N5,000,000 to 15 Nigerian small business owners.
Aderemi-Makinde said that this initiative cemented Google’s unwavering commitment to cultivating entrepreneurial growth in Nigeria.
She said that SMBs formed the backbone of Nigeria’s economy but consistently grapple with challenges, notably the perennial obstacle of securing vital funding.
Aderemi-Makinde said that according to the World Bank, African SMBs faced a staggering finance gap of $330 billion.
She said that additionally, only 25 per cent of SMBs in Africa had access to bank loans, a percentage that sharply contrasted the 50 per cent observed in developed economies.
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‘’Hustle Academy Fund is a testament to the resilience and innovation of Nigerian small businesses, which are the backbone of our economy.
‘’We are hopeful that this fund will further empower them to succeed and drive economic growth, creating jobs and opportunities for all Nigerians,’’ she said.
According to her, Google’s Hustle Academy, introduced in 2022, provides SMEs with business and management education, mentoring, and networking, with a particular emphasis on preparing them to package their businesses.
Aderemi-Makinde said that it was in order to raise the necessary capital to take their businesses to the next level.
She said that since its inception, the programme had graduated over 4,000 SMBs in Nigeria, with a notable 74 per cent from the first-year reporting marked business growth.
According to her, the fund earmarks a N75 million pool exclusively for Nigeria to support 15 investor-ready SMBs through non-dilutive funding.
She said that this commitment was further enriched with tailored mentorship, ensuring these businesses were primed for success.
Also speaking, Product Marketing Manager and the Hustle Academy Programme Lead at Google, Sinmisola Nojimu-Yusuf, said that the Hustle Academy Fund provided SMBs with the resources and support they needed to succeed.
Nojimu-Yusuf said: ”Wth equity-free funding, mentorship, and opportunities for increased visibility and networking, we are supporting SMBs to grow and thrive.”
She said that Google was committed to supporting the Nigerian entrepreneurial ecosystem, and the fund was a key part of that commitment.
According to her, to be eligible for the Hustle Academy SMB Fund, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan.
She said that SMBs should have a track record of commitment to growth, operate in sectors aligned with the digital economy or have a digital enablement strategy.
According to her, previous participation in the Hustle Academy programme is an added advantage.
Nojimu-Yusuf said that applications for the fund would open on Tuesday and close on October 12th.
She said that detailed insights into the fund and application procedures are on ‘google/hustleacademyfund’.
The reports gathered that Google’s mission is to organise the world’s information, make it universally accessible and useful
Google opens applications for N75m Hustle Academy Fund for Nigerian SMBs
Entertainment
Ini Edo Shares Engagement News, Plans Fairytale Wedding
Ini Edo Shares Engagement News, Plans Fairytale Wedding
Popular Nigerian actress Ini Edo has revealed her engagement and is preparing for a fairytale wedding.
Edo shared the joyful news on her Instagram account, @iniedo, on Sunday, expressing her excitement about this new chapter in her life.
In her heartfelt post, she wrote: “That bright Sunday morning six months ago, while on vacation, we crossed paths, and our lives never remained the same.
“Exactly three months later, you asked me to be with you forever. How did I get so lucky?”
Reflecting on love and destiny, she added, “They say, ‘your flaws are perfect for the heart that is meant to love you,’ and I now believe this wholeheartedly. My fairytale wedding is almost here.”
Edo concluded with an encouraging message to her followers: “To anyone out there who has given up on their happily ever after, Love will find you, and when it does, ready or not, it’ll be the best thing that ever happened to you.”
National
FG Intervention Programs Aim to Benefit All Nigerians, Says Minister
FG Intervention Programs Aim to Benefit All Nigerians, Says Minister
Alhaji Muhammad Idris, Minister of Information, has affirmed that the Federal Government’s intervention programs are designed to benefit all Nigerians.
Speaking during a sensitization event on the Renewed Hope Agenda, President Bola Tinubu’s administration’s policy framework, in Yola on Thursday, Idris emphasized the wide-reaching nature of these programs. Represented by Rhoda Maina, Head of the Federal Information Resource Center in Yola, the minister outlined various initiatives aimed at improving citizens’ lives.
These initiatives include the disbursement of over N2.9 billion for a student loan scheme, empowerment programs, and the Digital and Creative Enterprise Program. Additional efforts focus on consumer credit, a natural gas initiative, housing, Nano business support, and the National Youth Talents Export Program.
Mr. Jonah Agye, Director of the National Orientation Agency (NOA) in Adamawa, expressed the agency’s readiness to collaborate with federal and state agencies to promote these initiatives at the grassroots level. He urged participants to spread the word in their communities and encouraged public support for government policies.
In his remarks, Mr. James Iliya, Adamawa State Commissioner for Information and Strategy, expressed gratitude to the federal government and President Tinubu for the interventions. He urged beneficiaries to make the most of these opportunities to improve their lives. Iliya also noted that Adamawa State aligns with the Federal Government’s policies to ensure its residents benefit from these initiatives.
Alhaji Idris Shuaibu, chairman of the event, commended the Federal Government’s efforts and advised those implementing the programs to ensure that they reach the most vulnerable citizens.
News
Empowered for a New Life: UNFPA Supports 50 Rehabilitated Fistula Survivors in Gombe
Empowered for a New Life: UNFPA Supports 50 Rehabilitated Fistula Survivors in Gombe
The United Nations Population Fund (UNFPA) has empowered 50 rehabilitated Vesico Vaginal Fistula (VVF) survivors in Gombe State through a collaborative program with the Government of Norway.
At the graduation ceremony held in Gombe on Thursday, Dr. Bajowa Lanre, UNFPA’s Sexual Reproductive Health Analyst, reiterated the agency’s commitment to eradicating obstetric fistula, a debilitating condition that occurs during childbirth. He highlighted that UNFPA continues to provide life-saving surgeries for women affected by fistula and severe perinatal tears in Nigeria, working towards a future where maternal mortality and related conditions are eliminated.
Obstetric fistula, an abnormal connection between the rectum and the vagina, is often stigmatized in communities, bringing shame and social isolation to survivors. “No woman should endure this experience,” said Lanre, emphasizing the physical and emotional toll it takes on women and families.
The empowerment initiative, which equips survivors with vocational skills and tools, is seen as key to reintegrating them into society. Sewing machines, grinding machines, popcorn processing equipment, and transportation stipends were provided to help the women become economically self-sufficient.
Gombe’s Commissioner for Women Affairs and Social Development, Ms. Asmau’u Iganus, expressed gratitude for the initiative. Represented by Mrs. Abu Hassan, she noted that the program would enhance the survivors’ livelihood and boost their social and economic wellbeing.
Dr. Musa Issa, Executive Director of the Fistula Foundation Nigeria, praised the collaboration between UNFPA, the Norwegian government, and the state, calling the empowered women role models who can inspire others in their communities.
One of the beneficiaries, Mrs. Safiyanu Moses, shared her journey from being ostracized due to the condition’s effects to regaining hope for a brighter future. “This intervention has transformed my life,” she said. “I will use this empowerment to help my family and community while raising awareness about treatment for others.”
The program aims to foster support systems for fistula survivors and reduce the stigma associated with the condition in Gombe State and beyond.
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