Business

FEDERAL GOVERNMENT, WORLD BANK LAUNCHED GROWTH AND EMPLOYMENT EQUITY WINDOW

Published

10 years ago

November 7, 2015

The federal government, in partnership with the World Bank on Tuesday launched the Growth and Employment (GEM) Equity Window, a grant scheme to support micro, small and medium scale enterprises (MSMEs) in the country.

The World Bank has committed $165 million to the project.

The grant would be made available to qualifying venture capital and private equity firms and other equity providers to incentivise them to provide equity finance to MSMEs. The GEM project seeks to support participating MSMEs to enable them increase their market and their contribution to employment.

Speaking at the launch of the initiative in Lagos, the Lead Financial and Private Sector Specialist at the World Bank, Michael Wong, said the GEM is a project that the government decided to put in place to enhance enterprise development and to also diversify the economy.

“The objective of the project is to generate employment particularly among young Nigeria. The World Bank is the funder of the project. Those to benefit include any small enterprise, any aspiring young person that wants to set up a business can register under the business innovation platform which would be launched in December,” he explained.

The project has windows for equity companies, which are companies that should provide capital to aspiring high growth potential firms, he said.

On his part, the Project Coordinator, GEM, Federal Ministry of Trade and Investment, Mr. Sani Labaran, pointed out the project has a lifespan.

“It became effective in July 2013. It is a 5-yearprogramme. But what we are saying is that whoever we support in the next few years should become effective in whatever business he is doing. The equity grant is what we are launching today.

“Firstly, for an entrepreneur to benefit, he or she must register on the Business, Innovation and Growth (BIG) platform and must receive training. You must tell us areas you are having challenge so that when you go back to your business your profitability will increase. Everybody has equal opportunity. The ultimate goal is to create employment opportunities for Nigerians,” he said.

Also speaking on the initiative, a senior official of theHenshew Capital Partners, Barbara James, said the facility was one of the many interventions that had been proposed.

She decried the low number of private equity firms in Nigeria when compared with countries such as South Africa, Brazil and Malaysia.

“In these countries, they have over 100 private equity firms operating in the SME sector, in larger companies, in aviation and so many other sectors. But in Nigeria, we have just very few. So, we need to facilitate and activate more managers of such funds to come up so as to support SMEs and other sectors of the economy,” she said.

GEM project targets 100,000 jobs

Project Coordinator, Growth and Employment Project, Mr Sani Labaran, has said the venture was aimed at creating about 100,000 jobs upon completion.

Labaran made the disclosure while speaking with newsmen on the sidelines of the GEM Equity Window Launch on Tuesday in Lagos.

According to him, the project is open to every Small and Medium Scale Entrepreneur without discrimination.
“Everybody has equal opportunity,” Labaran said.

He explained that the ultimate aim of the project was to ensure the growth of the economy beyond oil.

The coordinator said that interested investors should register on the Business, Innovation and Growth platform to qualify for the equity financing through the GEM project.

He added that SMEs must first be registered with the Corporate Affairs Commission to be eligible.

Labaran said, “It became effective in July 2013. It is a five-year programme.

“But what we are saying is that whoever we support in the next few years should become effective in whatever business he is doing.

“Whoever we support must be able to stand on his or her own. The GEM project has a life span that will expire by September 2018.

“If the objective of the project is achieved, we can ask the government to create more projects that will be financed by the World Bank.”

He advised SMEs to leverage on the opportunities created by the performance and equity grant segments of the project.

Business

HOUSE OF BIMPE FIT GAINS ATTENTION WITH TRENDY UNISEX FASHION LINE

Published

7 hours ago

April 10, 2026

Sahara Weekly

HOUSE OF BIMPE FIT GAINS ATTENTION WITH TRENDY UNISEX FASHION LINE

LAGOS — A fast-rising fashion brand, House of Bimpe Fit, is making waves in the style scene with its collection of modern, elegant outfits designed for both men and women.

The brand, which showcases a blend of contemporary and classic designs, is quickly attracting attention for its attention to detail and quality finishing. From sharply tailored men’s native wears and suits to chic, figure-flattering outfits for women, House of Bimpe Fit is positioning itself as a go-to destination for fashion lovers seeking both style and comfort.

Speaking on the brand’s vision, the management emphasized its commitment to delivering “quality outfits for both men and women,” ensuring customers step out with confidence and class regardless of the occasion.

Fashion enthusiasts have particularly praised the brand’s versatility, as it caters to a wide range of tastes—from corporate elegance to casual sophistication.

With an active presence on social media, especially on TikTok via @house_of_bimpefit, the brand is leveraging digital platforms to reach a broader audience and showcase its latest collections.

Industry watchers say House of Bimpe Fit is one to watch, as it continues to carve a niche for itself in Nigeria’s competitive fashion industry.

For inquiries, customers can contact the brand via phone at 0802 686 6277.

Business

Jafad College of Nursing Science Showcases Excellence at Matriculation, Capping Ceremony for 158 Nursing Students

Published

8 hours ago

April 10, 2026

Sahara Weekly

Jafad College of Nursing Science Showcases Excellence at Matriculation, Capping Ceremony for 158 Nursing Students

By Agholor M.O

Jafad College of Nursing Science, Oru Ijebu Ogun State, has once again demonstrated its commitment to excellence in healthcare education as it matriculated and inducted into Nursing Training, 158 students of the N.D 2025/2026 academic session in a well attended and inspiring ceremony which took place on Wednesday, 8th of April 2026 at the College premises, Oru Ijebu, Ogun State

The event began with a colourful academic procession of the matriculating students led by their Class Coordinator Mrs B.O. Okuboyejo, alongside principal officers of the college, including the Student Affairs Officer, Mrs Fijabi; College Accountant, Mrs Funmilayo Victoria Alao; Librarian, Mr Jonathan Olusola Fatokun; Registrar, Mr Mojeed Adewale Lawal; and the Acting Provost, Ms Olufunmilola Akintayo.

In her welcome address, the Acting Provost charged the new students to embrace discipline, dedication, and professionalism, noting that Jafad College provides a strong academic and moral foundation needed to thrive in the ever demanding healthcare sector.

The ceremony attracted dignitaries, including Mr Abdulhameed, JAMB Zonal Coordinator, Abeokuta, Ogun State, further underscoring the institution’s growing reputation.

Delivering the matriculation lecture, Mrs Oyelayo Toyin Adeola, a registered nurse educator from Olabisi Onabanjo University Teaching Hospital, spoke on the theme: *“The Journey of Admission to Graduation: Strategies for a Successful Outcome – Learner and Teacher Perspective.”* She emphasized the importance of goal-setting, effective study habits, time management, and active student teacher collaboration. She also highlighted the need for resilience, ethical conduct, and continuous self-improvement, describing nursing as both a calling and a profession that demands compassion, competence, and lifelong learning.

The ceremony reached a symbolic peak with the capping and stripping of the students by experienced registered nurses from Ogun State Hospital, Ijebu Ode, officially ushering them into the noble nursing professional Training.

Parents and guardians expressed satisfaction with the quality of organization and training standards, while the students beamed with excitement as they began their professional journey.

With its experienced faculty, structured training, and commitment to producing competent and compassionate nurses, Jafad College of Nursing Science continues to stand out as a top choice for aspiring healthcare professionals in Ogun State and beyond.

Business

FirstBank Partners Eko Hotels & KEY Academy for ChessMasters 2026 Tournament

Published

2 days ago

April 9, 2026

Sahara Weekly

FirstBank Set to Launch Tailored Financial Services for Blind and Physically Challenged Customers

FirstBank Partners Eko Hotels & KEY Academy for ChessMasters 2026 Tournament

Lagos, 30 March 2025 – FirstBank, West Africa’s premier financial institution and the leading financial inclusion service provider, has announced its strategic sponsorship of the second edition of ChessMasters, Africa’s largest school chess tournament. The announcement was made at the official press conference of the tournament held on 16 March 2026 at Eko Hotels and Suites, Lagos.

ChessMasters is an annual chess tournament designed to equip the next generation with critical thinking, problem-solving, and leadership skills. The competition targets children in primary school aged between 6 and 11 years old. Organised by Eko Hotels and Suites & KEY Academy , ChessMasters was created to provide thousands of children across Nigeria with opportunities to develop modern educational skills, bringing schools together on a national stage.

Speaking at the press conference, Olayinka Ijabiyi, Acting Group Head, Marketing & Corporate Communications at FirstBank, said, “Our sponsorship of ChessMasters 2026 reflects our commitment to building talents and communities, driving inclusion, and deepening engagement through our First@Sports initiative, a platform that celebrates talent and promotes social impact through sports. With over a century of supporting legacy sports in Nigeria, we are proud of our enduring partnerships – 105 years with the Georgian Cup, 65 years with the Lagos Amateur Golf Championship and 35 years with the Dala Hard Court Tennis Championship.”

Ijabiyi further highlighted how the sponsorship aligns with FirstBank’s sustainability pillars of Education, Health, and Welfare. “We recognise the potential of chess to help school-age children challenge themselves, think critically, and compete at the highest level, hence we see the tournament as a launchpad for a pan-African movement leveraging chess as a tool for education, empowerment, and leadership development. We are utilising this platform as another avenue to promote social impact and drive positive change in the community.”

Caline Chagoury Moudabar, Director and Co- Founder of ChessMasters and her partner Damilola Okonkwo of Key Academy, expressed appreciation for FirstBank’s support, noting that the partnership will help scale the impact of ChessMasters and inspire more schools to participate. “We are happy to welcome FirstBank on board. This collaboration will boost chess development in Nigeria and promote critical thinking among young minds. With support from partners like FirstBank, we are opening the doors of participation to more children and more schools in this year’s edition.”

Prince Adeyinka Adewole, Vice President of the Nigeria Chess Federation, commended the initiative, emphasising its role in nurturing future chess talents. “Chess connects people, ideas, and opportunities. It teaches children to be analytical, patient, and manage their time and resources effectively. Chess also improves concentration and has been particularly beneficial for children with autism.”

The second edition of ChessMasters will be held on Saturday, 2 May 2026 at Eko Hotels and Suites, Lagos. The competition is open to 150 schools across Lagos, with over 700 students expected to participate and vie for a total prize pool of N10 million.

FirstBank’s involvement in the 2026 edition of the tournament reinforces the potential of ChessMasters to become a launchpad for African children, leveraging chess as a tool for education, empowerment, and leadership development.