Leading financial services group, Nõrrenberger, has introduced the Nõrrenberger Entrepreneurship Fund (NEF), a dedicated N500 million initiative to support aspiring entrepreneurs, particularly young individuals and Youth Corps Members, in turning their business dreams into reality.
Speaking at the launch event, Mr. Tony Ede, Group Managing Director of Nõrrenberger, outlined the program’s ambitious goals. NEF aims to impact 5,000 Corps Members in the current year and has a larger vision to create 10 million job opportunities for Nigerian youths within the next five years.
Ede clarified that NEF is not a loan, but rather a grant designed to fund innovative concepts, technologies, or products for startups with groundbreaking ideas. The selection process will be rigorous, and the chosen winners will receive substantial support.
The top three winners of the NEF grant will be awarded N7.5 million, N5.5 million, and N3.5 million respectively. To be eligible, applicants must be current National Youth Service Corps (NYSC) members, express interest by applying through Nõrrenberger’s official portal, and possess entrepreneurial ideas.
Beyond financial backing, successful candidates will also receive valuable knowledge and skills to assist them in realizing their business visions.
Mr. Ibrahim Aliyu Bala, Chairman of the Board of Directors of Nõrrenberger, emphasized the significance of entrepreneurship in driving progress and economic growth. He highlighted that the NEF launch is not only about providing capital, but also about investing in human potential, fostering innovative ideas, and creating an environment where entrepreneurship thrives.
The event drew key figures in the entrepreneurial landscape, including Ms. Chioma Ome, Country Director of Solar Sister, Dr. Olawale Anifowose, Director of Programs at Enterprise Development Centre, Dr. Vanessa Phala, Director at the International Labour Organisation (ILO), Mr. Alu Oryiman, Principal Enterprise Officer at SMEDAN, and Dr. Tijani Oladipupo, Head of Business Advisory at Nõrrenberger. They collectively celebrated the potential of the NEF to catalyze positive change in the entrepreneurial ecosystem.