International Breweries Plc, through its subsidiary, International Breweries Foundation, has awarded N60 million in grants to 50 young entrepreneurs as seed fund capital to scale their businesses.
The grant, which is now in its 8th edition, is themed: “From Ideas to Impact: Nurturing Young Entrepreneurs for Economic Growth.” It has benefited a total of 425 young entrepreneurs since inception, creating 1,600 direct jobs and 3,000 indirect jobs.
The Managing Director of International Breweries Plc, Mr. Carlos Coutino, stated that the initiative underscores the company’s vision to positively impact the societies where it exists. He further explained that the event is in line with the company’s dream for an empowered youth population to reduce the scourge of unemployment and boost the confidence of young people in their individual creativity and capacity.
The Chairman of International Breweries Foundation Advisory Board, Mr. Peter Bankole, shared that the Kickstart Project is highly commendable as it coincides with the aspirations of the Nigerian government at all levels to provide an environment which encourages businesses to thrive. He said that the Kickstart initiative aligns with the vision of the government, especially in the area of a better Nigeria where youth have sufficient jobs and decent wages, where citizens manufacture, create, and invent more of the goods and services we require, making Nigeria a nation of creators, and not just consumers.
The Legal and Corporate Affairs Director of International Breweries Foundation, Ms. Temitope Oguntokun, stated that in furtherance of the agenda of the federal government to diversify the Nigerian economy from crude oil, agriculture related businesses made the largest proportion of beneficiaries for this year’s grant.