Velocity Initiative to sponsor 40 female nano-scale entrepreneurs

As part of effort aimed at empowering female entrepreneurs, The Velocity Initiative recently launched Cycle 2 of her SponsorHER project.

Founder and Executive Director, The Velocity Initiative, Elaine Jabitta said the empowerment programme is for female enterpreneurs between the ages of 21 and 50 from Oshodi, Ajegunle and Ijeshatedo communities with small grants for their nano-scale businesses.

She described the SponsorHER project as a poverty pipeline blocking initiative for marginalised young Nigerians, saying they were excited to launch SponsorHer Cycle 2.

According to her, “The SponsorHER project rides on the back of the prevalent economic inequality in Nigeria. It is also part of the organisation’s grand vision to drive political participation from women – the nation’s relegated audiences. Women must first attain financial independence to be able to make independent political decisions.”

Jabitta noted that the objective is to support more women from selected low-income communities in Lagos to live above the poverty line, stressing that when women are empowered with adequate resources, they can contribute to the growth of the economy and raise children who are less likely to be marginalised.

She added that the first cycle of the project supported by Points Canada and individual donors from around the world, has sponsored thirty nanoscale female entrepreneurs from Ijeshatedo community in Lagos State.

The executive director disclosed that the thirty beneficiaries were provided with the full inventories necessary to establish their businesses. “The second cycle of the project will sponsor 40 female entrepreneurs from Oshodi, Ajegunle and Ijeshatedo communities in Lagos State to scale up their nano-businesses. Twenty-one have already been sponsored by partners: Ohanele Law Firm and Points Canada, while nineteen women are still awaiting sponsorship.”

The Velocity Initiative is a non-profit organisation led by young Nigerians who are conscious of the critical role of every youth in the emergence of a better Nigeria.