Rise Network partners Lagos to empower local SMEs

In a bid to uplift young entrepreneurs, Rise Networks (RN) in partnership with Lagos State Government, has empowered 100 Small and Medium-sized Enterprises (SMEs) at the local level with the sum of N50, 000 each from the nook and cranny of Lagos state.

The event, which took place during the week in commemoration of the 2018 United Nation’s International Youth Day, aims at upscaling young micro business owners at the grass level to next level. The presentation came after series of thorough screening and training at the local level.

Founder and CEO of Rise Networks Toyosi Akerele-Ogunsiji, said any country that does not invest in human capital is constantly going to experience increase in poverty. Akerele-Ogunsiji, who addressed members of the press during a briefing, said Nigeria should begin to look at the areas of manufacturing and industrialization, as these aspects plays very crucial role in not just developing the economy, but in creating huge amount of jobs.

“We need to also look at the institutional and infrastructural gaps that also impedes economy development and make it difficult for the private sectors to be able to create jobs. Government need to make sure that the environment is enabling for private businesses to be able to thrive,” she said.

The beneficiaries of the cash prize were also awarded with a certificate of Achievement and got their cash alert right at the event. The convener, however, said the ideology behind the prize presentation was to upscale the areas of lack in the businesses of people, who did not have the opportunity of formal education but rather got into small-scale businesses,

“We focused on micro businesses at the grass level, went out, did audit of their businesses and realized they just needed little assistance to run better.“N50, 000 is not much but for someone who survives below that amount every month, it is a lot, and would bring about a total economy turn around of their input and output with proper management” she said.

Akere-Ogunsiji, who appreciated the Lagos State Governor, Mr. Akinwunmi Ambode for his immense support and input, advised beneficiaries, who were filled with excitement, to ensure they invest the cash prize solely on their businesses and shun the temptation of lavishing the money on other expenses.