NYSC Members Win N4m in Unity Bank Challenge

Twelve members of National Youth Service Corps (NYSC) who took part in Unity Bank’s flagship business plan competition, Corpreneurship Challenge, have won cash prizes totalling N4 million.

The winners emerged during the final business pitch in the fourth edition of the contest for NYSC 2020 Batch B corps members, which took place simultaneously across four NYSC camps in Lagos, Ogun, Benin, and Abuja recently.

The cash prizes included a N200,000 business grant for each of the second runner up, N300,000 business grant for the first runner ups and a star prize of N500,000 for each of the four winners.

Some of the winners included Evelyn Esumai, Aisosa Erica and Ozuoka Moses in Abuja camp, while Akomolade Blessing, Okafor Augustine and Edokpayi Harrison emerged the winners in the Benin camp.

In Lagos, Moses Bolanle, Iran-Ola Oluwosulu and Zainab Muhammed emerged winners to claim the cash prizes.

The initiative attracted interest among the corp members, as over 300 applications were received but only forty were shortlisted for the pitching session from where the twelve winners emerged.

The contestants’ business plans which ranged from fish production, poultry farming, fashion, piggery to beverages were assessed on originality, marketability, future employability potential of the product and knowledge of the business.

Speaking during the finale, the Group Head, Retail and SME Banking, Unity Bank Plc, Mr. Olufunwa Akinmade, said the competition was to encourage more youths with clear intentions to expand or start profitable ventures.

“The money we are giving is not a loan and we do not want you to lose money. So, you must learn that mistake is part of the business and constantly thinking about the challenge you will face in the business. Put the same energy you all have displayed today in your businesses as you face your post-service year ahead.

“Corpreneurship is what we started last year, we started last year with season one. We launched it in Lagos and in three other states which include Edo, Ogun, and Abuja. So, today we are in four locations as we speak right now; is been one year we have been running this and it has been hugely successful.”

Speaking further, he explained that the Bank will sustain the programme in order to achieve record impact on job creation. He said: “This is a programme that will stand the test of time, but all we are doing is to support NYSC corps members to start their own business no matter how small and then grow with it. Unity bank is there and we are offering them a financial, mentorship as well as business mentorship.”

On expectations from the winners, Akinmade said: “Our expectations are two folds; that they manage the money well such that at the end of the year in addition to the N500,000, N300,000, N200,000 that they won today, they will double it.

“Second, we want people, who at the end of the year, can become employers of labour. This is our first steps towards reducing unemployment in the market. It is a small step but a big one and so we expect them to be able to say I have two, three people working with me,” he said.

Commenting on his exploit as the winner, Ejidike Vitalis, said his drive for local content pushed him into Zobo drink production.

He said: “Our teabag Zobo drink needs expansion to meet our demand because of how it is naturally produced with ginger for easy consumption anytime and we appreciate Unity Bank for empowering us through this initiative.”

February 11, 2021