Accessprenuer: Empowering Today’s Youths as Growth Drivers

Over the years, Access Bank has empowered young entrepreneurs undergoing the National Youth Service Corps, NYSC, program with grants and mentorship to ensure they become self-reliant business owners and employers in a bid to spiral development across Nigeria. Nume Ekeghe writes on the impact this initiative has had on the lives of some of the recipients.

In a bid to foster entrepreneurship and empower Nigeria’s youth, Access Bank embarked on a strategic partnership with the National Youth Service Corps (NYSC) in 2016. This collaboration has since evolved into a remarkable initiative known as Accessprenuer: The NYSC Edition. With the completion of 13 successful editions, this program has positively impacted the lives of 490 corps members by providing them with N195 million in seed capital. 

This partnership and its transformative effects on young entrepreneurs demonstrate the institution’s commitment to supporting the entrepreneurial ambitions of Nigerian youth. Recognising the potential of young people to drive economic growth and innovation, this collaboration seeks to provide them with the necessary resources and opportunities to thrive in the business world. The span of this initiative has spread across all the geographical regions in Nigeria with Prize winning from ranging fromN1 million, N700,000, to N250,000.  

In February 2021, the partnership between Access Bank and NYSC reached a new milestone with the launch of Accessprenuer: The NYSC Edition. This program serves as a platform for corps members to showcase their entrepreneurial ideas and compete for seed funding to kickstart their ventures. With 13 editions completed to date, Access Bank has proven its dedication to nurturing young talent and encouraging innovative business solutions. 

Impact and Empowerment

The impact of Accessprenuer on corps members has been significant. Through the competition, a total of 490 young entrepreneurs have been empowered with N195 million in seed capital. This funding has provided them with the necessary financial boost to turn their ideas into reality and launch their own businesses. By supporting these aspiring entrepreneurs, Access Bank is not only creating opportunities for individual success but also contributing to job creation and economic development. The recipients asides from cash grants were also given capacity training and in some cases aided the formal registration of businesses with the Corporate Affairs Commission  (CAC).

Speaking on the impact, Founder, of Techmax Electronics, Simon Uche who did his NYSC in Enugu, 2022 got a grant of N1 million started a small business targeted at providing students the opportunity to get new or used laptops.

He said: “We started this business with the purpose of ensuring and helping young Nigerian students who have this passion to scale their electronic skills in terms of graphic designs, web designs and more. The scale of my business before NYSE was averaging sales of 2 to 3 laptops monthly but now after winning the grant, we doing amazingly well by averaging sales of 5 to 10 laptops monthly. this grant has been a high boast for growth in my business.”

He also thanked Access Bank for the opportunity and for helping him register his business. 

Beyond Financial Support

Access Bank’s partnership with NYSC extends beyond providing financial support. The bank also offers mentorship and capacity-building programs to the participating corps members. Through workshops, training sessions, and networking opportunities, these young entrepreneurs gain invaluable knowledge, skills, and guidance from experienced professionals in various industries. This holistic approach helps to develop their entrepreneurial mindset and equips them with the tools needed for long-term success.

Commenting on the support received so far, Chief Executive Officer Raphatonic, Chibueze Okoronkwo A natural health fruit drink company that served in Osun State 2021 won a N700,000 noted that his business was still an idea and this idea has become a testimonial business which is growing every day. 

Okoronkwo said: “Prior to becoming an Accessprenuer, my business was still at ideation and I hadn’t started my business and with the fund I won, I was able to start my business. Currently, my business is scaling and growing and I trust that soon it would be one of the biggest brands. I doff my cap to Access bank, actually I have not seen this kind of initiative before where a bank is out to support Nigerian youths and in this way.” 

“Access Bank didn’t just provide me with funds but also gave support in mentorship by contracting a youth empowerment initiative known as Youth with a vision (YWAV) and the took us on a series of mentorship program and this also helped a lot in my personal life and business in a whole. Access Bank also helped register my business with CAC.”

Another recipient Naomi Joshua, Founder Naomi Haute Couture a fashion designer who received a N250,000 grant noted that she acquired machines for her business and has since then seen growth in her business. 

She said: “With the grant she purchased mannequins and other tailoring tools for her office space. I am super grateful to Access Bank for this opportunity which urged my parents to support my business as well.”

A graphic designer, Erhiemu Nelson a first runner with N700,000 winnings said: “This grant didn’t just come with the money, Access Bank provided a mentorship program and has helped us as my social media page has blown. Right now, I am taking students on classes and currently working on an online graphic course to be sold on the net. My business is doing well and I want to appreciate Access Bank.”

Furthermore, Shukura Idowu who served in Abia State, founder of Near Cakes and Event who won  N700,000 said: “Before NYSC, my business was a small-scale business, which I do during my leisure period but currently my business is now a medium-scale business which I hope would scale to a large-scale business.” 

“I want to thank Access Bank for giving back to the community through corporate social responsibility what the young people need.  Many young minds after NYSC have nothing to do but with the initiative of Accessprenuer, many lives are being turned around.” 

The testimonies of the beneficiaries of Access Bank’s support are a testament to the program’s impact. Simon Uche, founder of Techmax Electronics, experienced significant growth in his business after receiving a grant of N1 million. This boost enabled him to expand his sales and make a greater impact in providing students with new or used laptops. Chibueze Okoronkwo, CEO of Raphatonic, a natural health fruit drink company, noted how the grant helped him transform his business from an idea to a testimonial business that is growing daily. Naomi Joshua, founder of Naomi Haute Couture, utilised her grant to purchase equipment and witnessed growth in her fashion business.

This comprehensive approach ensures that young entrepreneurs are well-equipped to navigate the challenges of starting and growing a business.

By empowering today’s youths as growth drivers, Access Bank is making a significant contribution to the development of Nigeria’s entrepreneurial ecosystem. The program not only supports individual entrepreneurs but also fosters a culture of innovation and collaboration among young people. The impact of Accessprenuer extends beyond the monetary value of the grants, as it inspires and motivates a new generation of business leaders who will contribute to the overall growth and prosperity of the nation.

Access Bank’s commitment to empowering young entrepreneurs through Accessprenuer demonstrates the importance of investing in the potential of Nigeria’s youth. By equipping them with the necessary resources, knowledge, and support, Access Bank is enabling them to become self-employed individuals who can drive economic growth, create jobs, and contribute to the overall development of the country.

Conclusion

Access Bank’s strategic partnership with NYSC and the success of Accessprenuer: The NYSC Edition highlight the bank’s commitment to fostering entrepreneurship and empowering Nigeria’s youth. By combining financial support with mentorship and capacity-building programs, Access Bank is equipping these young entrepreneurs with the necessary skills and knowledge for long-term success. As Accessprenuer continues to inspire and empower the next generation of Nigerian entrepreneurs, the impact on the economy and society as a whole will undoubtedly be transformative