HomeNewsHuman InterestZakat foundation gives grants to support business owners

Zakat foundation gives grants to support business owners





In its efforts to eradicate poverty, Zakat and Sadaqat Foundation’s yearly Business Plan Competition has empowered another 20 business owners with grants to support their businesses.

Speaking during the 8th entrepreneurship development project, award and Prize giving ceremony, the Director/CEO, Zakat and Sadaqat Foundation, Prince Sulayman Olagunju, said the known business plan competition (BPC) is a unique window of opportunity for the youth to get grants to either kick start their businesses or inject fund into their existing businesses.

It may interest you to know that this is the 8th edition of the project since its inception in the year 2015. We have been consistent in supporting, creating and managing small-scale businesses for the past 9 years across the length and breadth of our dear country, Nigeria. Undoubtedly.”

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He said that the BPC interventions have been impactful on the youth and the larger society. “The total number of direct beneficiaries on this intervention from the commencement to date is 168, while indirect beneficiaries are 1,165, with the total sum of over 90 million expended including administrative expenses.”

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Olagunju added that the online training on entrepreneurship development was another innovation introduced this year and it was highly appreciated as more applicants participated and benefited maximally from it.

Our mentorship of winners remains one of the cornerstones of our success as many mentees continue to express their appreciation for the tremendous support they got from their mentors.”

He urged the winners to emulate the habits of hard work and generosity as displayed by most past winners.

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Many of them are doing well in their businesses. Interestingly, some of them have been paying back both in kind and cash, as a matter of facts and figures, some of them are here today to share their success stories.

He commended the MD/CEO, Noor Takaful Insurance Limited, Mr Rilwan Sunmonu, who graciously accepted our invitation to chair the occasion despite his busy schedule.

Chairman of the occasion, MD/CEO, Noor Takaful Insurance Ltd, Rilwan Sunmonu, said the Business Plan Competition represents a beacon of hope and opportunity for countless youths who possess the passion and vision to launch successful businesses. “These talented individuals are equipped with the ideas and determination to flourish in the business world, yet often find themselves constrained by financial limitations. The BPC was created to address this very issue and provide a platform for these aspiring entrepreneurs to turn their dreams into reality.”

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He said in today’s world, innovation and entrepreneurship play a pivotal role in economic growth and development and it is our duty to nurture and support the next generation of business leaders.

The BPC not only empowers our young entrepreneurs but also aligns with the principles of Islamic finance and the spirit of community support that Noor Takaful Insurance Limited holds dear.

He applauded and extended heartfelt gratitude to the organizers, mentors, and judges who have been instrumental in guiding and evaluating the budding entrepreneurs.

Your dedication has been crucial in bringing us to this remarkable juncture. without further ado, I invite you to join me in celebrating the outstanding achievements of these young entrepreneurs. Let us recognize their drive, their innovation, and their dedication to building a brighter future for themselves, their communities, and the world at large.”

Star Prize Winners, Director Al-Arqam Schools of Arabic and Islamic Studies, Habeeb Aderemi Adepoju, commended the organisation, its team, trainers, mentors and donors for keeping hope and the banner of the Islamic social empowerment packages alive.

This is not a cut of the Nigerian national cake that must be uncontrollably lavished, nor is it a promo or a betting reward from which blessings have been outrightly famished. It is indeed a social investment package meant to raise more social entrepreneurship investors. It is both a test and a trust. I will use this grant to procure major facilities needed to facelift my Arabic school.”

 The Proprietress of Excellent Path Model School, Fatimo Adetoun Idrees, said she is grateful to Allah and appreciates Zakat and Sadaqat Foundation and all Zakat and Sadaqah payers and donors for giving her the opportunity to participate in the 8th Edition of the Business Plan Competition and then emerged as one of the Star Prize Winner.

I am indebted to my mentors for their total support, the Lead Consultant of the Competition. with this grant, I will be moving towards achieving the primary marketing objectives of the school and the vision of the school.”

The CEO of Double-Honour Concrete from Ile Ife in Osun State, Abdulwasiu Adegboyega Jimoh is a concrete manufacturing firm specialising in the manufacturing of concrete bricks such as interlocking, kerbs and others.

l am grateful to Allah for the star price privilege in this year BPC 2023. I am also indebted to Zakat and Sadaqat Foundation members and the Lead Consultant for this opportunity. May Allah reward you all abundantly.”

Managing Director/Chief Executive Officer Pure Surplus Insurance Brokers Ltd Mr Tajudeen Sekoni (left); ZSF Executive Director/Chief Executive Officer Prince Sulayman Olagunju (second left) and Managing Director/Chief Executive Officer Al-Barakah Micro Finance Bank Rasak Agboola presenting cheque to N1 million winner, Wasiu Jimoh (middle).
LASU Ph.D Coordinator, Department of Accounting Prof Khadijah Idowu (left) presenting certificates to two of N1 million star winners Zainab Adam and …
Left to rightAlh. Shuaib Idris MD/CEO. Timeline Consult Ltd. presenting to Idrees Fatima Adetoun and her partner (winner), supported by Mr. Adeoye Abiodun, Group Head, Lotus Bank.
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