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Zakat foundation empowers 20 small-scale entrepreneurs

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Baytuzzeenah Chief Executive Officer, Hajia Saidat Otiti (left); assisted by Jaiz Bank Ikeja Branch Assistant Manager, Mrs. Abimbola Aiyepe to present One million naira dummy check to the second best winner, hajia Alimat Olaide at the fourth edition of Entrepreneurship Development Project organized by Zakat and Sadaqat Foundation (ZSF) in Lagos

Determined to tackle the problem of poverty and unemployment confronting Nigerians, Zakat and Sadaqat Foundation (ZSF) has empowered 20 entrepreneurs with good proposals to start their businesses.

The foundation rewarded 10 winners with the sum of one million naira each and N250,000 each to 10 runners up.

The 20 were selected out of the 956 entrepreneurs that applied for the fourth edition of its entrepreneurship development project tagged Business Plan Competition (BPC) in Lagos.

Speaking at the Award/Prize giving and certificate presentation ceremony, the Chairman, Advisory Board of ZSF, Alhaji Umar Abdul Mutalib, who was represented by Chief Executive Officer of the JZWTF, Imam Abdullahi Shuaib, commended the foundation for the noble work and urged well-meaning individual to support the project.

“Your presence here at the yearly Business Plan Competition is an indication of your support for entrepreneurship development and promotion of small scale enterprise in the country. There is no better time than now to encourage this noble project,” he said.

He applauded winners and appealed to them to make use of the funds given to them judiciously, as they were generated from honest and hardworking Nigerians who believe and identify with the foundation’s aims and objectives.

“I congratulate all the winners here today who have the best business ideas to be supported by the foundation.

You must justify this award with utmost dedication, commitments and hard work to grow your business enterprise to a laudable level.

This is the only way the foundation can achieve it entrepreneurship objective, your success transcend to theirs. Do ensure you render proper account of your business as at when due to your mentors and the organisation.”

Abdul Mutalib also commended the board and management team of ZSF, all donors and sponsors of the great project, appealing to well to do individuals and organisations to support the entrepreneurship initiative so as to move the nation forward”, he said.

Chairman Board of Directors, ZSF, Dr Tajudeen Yusuf, said the project is an avenue to support diligent youth who have business ideas or those with existing ideas but needed fund to grow.

He described Zakat as a tool that could bridge the gap between the rich and the poor by empowering and enriching hardworking individuals in the society.

“We have decided with this competition to take it further by giving encouragement to young entrepreneurs who have the skill, passion and potentials to translate their entrepreneurial spirit to prosperity, so that more entrepreneur are grown in the society,” he said.

He added that historically in Islam, the prophet (SAW) started as an entrepreneur, by displaying is trustworthiness in supporting the business of Khadija, which later translated into marriage.

“Prophet Muhammad (SAW) was able to show dexterity, diligence, passion and integrity in managing the fund giving to him by Khadija. Incomparable to what others are bringing back to her”, he said.

Executive Director, ZSF, Prince Sulayman Olagunju said the business plan competitions is an initiative of ZSF to support business ideas and existing business that are worthy of financial assistance for growth and prosperity.

Noting that the number of applicants in this year edition was 956 against 606 of last year, he said: “The competition was conducted by a team of experts in the field of entrepreneurship and empowerment schemes on behalf of ZSF.

Our consultants worked round the clock to arrive at the best 10 winners. Each winner will go home with cash awards of one million naira. In addition, the 10 runners up will go home with N200,000 each.


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