Stanbic IBTC has partnered with Orange Corners Nigeria (OCN) to provide financial support to young entrepreneurs in the country to scale their businesses.
OCN was created in 2019 to provide small business owners with the skills, knowledge, and support they need to create sustainable economic opportunities within their communities and to build a thriving entrepreneurial ecosystem in Nigeria.
It is an initiative of the Kingdom of the Netherlands, implemented by FATE Foundation, to contribute to a thriving entrepreneurial ecosystem by providing economic opportunities, skills, and the right networks for youth with innovative business ideas.
Stanbic IBTC is coming on board as a partner and according to the chief executive of Stanbic IBTC Bank, Mr Wole Adeniyi, “We are going to help catalyse more entrepreneurs and also help the youth.”
“It goes with what we are doing with SME businesses, we are going to be able to scale more, empower them more, and also provide access to financing that will help to support the economy,” he added.
The Consul General for Kingdom of the Netherlands in Lagos, Mr Michel Deelen, while commenting, said, “Orange Corners is the expression of our belief in the youth of Nigeria. From inception the plan was to do this together with the private sector and we are very pleased to have found a partner in Stanbic IBTC.”
Also speaking, an Executive Director of FATE Foundation, Ms Adenike Adeyemi, said, “We’re excited to partner with Stanbic IBTC to advance Orange Corners Nigeria’s mission of fostering a thriving entrepreneurial ecosystem, where young people can turn their innovative ideas into successful businesses.
“This partnership will enable us to provide more comprehensive support, mentorship, and opportunities for growth, ultimately driving innovation and job creation in Nigeria.”
The OCN model in Nigeria is a Business Incubator, an innovation fund, and a student ambassador programme.