Ooni, SMEDAN unveil N1bn endowment fund for female entrepreneur

The Ooni of Ife, Oba Adeyeye Ogunwusi, in collaboration with the Small and Medium Enterprise Development Agency of Nigeria, on Saturday, unveiled a N1billion endowment fund meant to support female entrepreneurs in the country.

The initiative, named the Alhaja Habibatu Mogaji Tinubu Endowment Fund, in honour of President Bola Tinubu’s mother, was part of the activities for this year’s edition of the Royal African Young Leadership Forum, where 100 youths drawn across the continent received awards.

Among the awardees were the Minister of Youth Development, Dr. Jamila Ibrahim, the Speaker of the Osun State House of Assembly, Adewale Egbedun, and Dr. John Aggrey, among others.

The royal father, who was joined by the SMEDAN Director General, Charles Odii, to unveil the fund at the event held in Oduduwa Hall of Obafemi Awolowo University, Ile-Ife, Osun State, said young female entrepreneurs would draw from the fund to grow their businesses.

He said, “For this fund, we know one person so prolific in Nigeria due to what she did as an entrepreneur. She did so well in this country. Even after her demise, we still remember all she did in this world before she left.

“So, we are naming this fund after Iyaloja Abibatu Mogaji Tinubu. It is a N1 billion endowment fund to help young people establish their own businesses.”

Commenting on the fourth edition of the Royal African Young Leadership Forum, Oba Ogunwusi said this year’s awardees represent the hidden treasures and immense potential of the continent, adding that by showcasing their stories, other people would be inspired to push forward and excel in various fields.