On Tuesday 8th August, 2023; FUND-YES was officially launched to serve as a multifaceted entrepreneurship financing programme for youths and women in Nigeria and Africa. It is a project anchored by Youths Off The Street Initiative (YOTSI), a non-govenmental organization (NGO) founded and chaired by Comrade Kennedy Iyere, a renowned humanitarian activist and high-profile social entrepreneur.
The official unveiling of FUND-YES was conducted at Merit House in Abuja by Comrade Kennedth Robinson, who is the National Organizing Secretary of Pan Niger Delta Forum (PANDEF) and also the Spokesperson of the Southern and Middle Belt Leaders Forum (SMBLF). The unveiling of FUND-YES attracted a large gathering of different interest groups comprising youth organizations, cooperative societies, NGOs, CSOs, FBOs, bankers, religious leaders and business organizations.
Comrade Kennedy Iyere, who is a top Philanthropreneur, said he was prompted to create FUND-YES out of the existing urgency to address the worrisome factors of high youth unemployment and extreme household economic poverty in Nigeria, as well as the social and economic security threats that associate with these factors.
“With extreme poverty deepening on daily basis and the gap of youth unemployment widening on daily basis, Nigeria is fast drifting towards political collapse, if these factors are not addressed, as a matter of critical social and economic emergency. Nigeria is sitting on a Keg of Gunpowder because angry and frustrated youths will sooner than later hijack the country and push Nigeria to a point of political disintegration.
Iyere said that FUND-YES will create and provide a flexible platform for youths and women to access business financing for their entrepreneurial ventures, especially those who have business interest in the sectors of agriculture, technology and entertainment.
According to him, “FUND-YES will exist and provide a social and economic vehicle for mass employment generation, wealth creation and poverty eradication among youths and women through multisectoral entrepreneurships.
“Top banks including Union Bank, Fidelity Bank, First Bank and United Bank For Africa (UBA) are set to partner with FUND-YES. Iyere said that two more banks are also willing and ready to join the above list of the partnering banks.
“FUND-YES will generate its funds through four key sources and these include Grants, Equity Crowdfunding, Business Loans and Impact Investment.”
According to Iyere, “the entrepreneurship financing programme will take off with 250,000 beneficiaries and then 750,000, which means a total of One Million Beneficiaries for a start. The mass sensitization and mobilization of potential beneficiaries for their registration and recruitment will commence by Monday 20th August, 2023.
“That is the same time the online registration portal shall be made available. Everyone who is registered as a prospective beneficiary will be required to open a personal bank account with one of the above-named banks, which are the partner banks.”
Iyere advises youths and women to take advantage of the golden opportunity Fund-Yes will provide.
