Velocity Initiative to Sponsor 40 Female Nano-Scale Entrepreneurs

Mary Nnah

The Velocity Initiative has launched Cycle 2 of her SponsorHER project which aims to empower female entrepreneurs between the ages of 21 and 50 from Oshodi, Ajegunle, and Ijeshatedo communities with small grants for their nano-scale businesses.

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, believing that omen must first attain financial independence to be able to make independent political decisions.

Founder/Executive Director, The Velocity Initiative, Elaine Jabitta, said, “The SponsorHER project is a poverty pipeline blocking initiative for marginalized young Nigerians. We are excited to launch SponsorHer Cycle 2. 

“Our objective is to support more women from selected low-income communities in Lagos to get above the poverty line. 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.”

The first cycle of the project supported by Points Canada and individual donors from around the world has sponsored 30 nanoscale female entrepreneurs from Ijeshatedo community in Lagos State.

The 30 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. 

While 21 women have already been sponsored by partners- Ohanele Law Firm and Points Canada, 19 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 Nigerian youth in the emergence of a better Nigeria.