More than 10 million Africans enter the labor market annually, only a tiny fraction of whom can currently expect to find formal employment.[1]
Nigeria’s micro-entrepreneurs are always stuck in a rut because they lack access to funding. Many young people roam the street with ideas in their heads and sometimes crafted into proposals, but Nigerian main banks do not understand the micro-enterprise environment and so concentrate on providing loans and capital to large multi-nationals
Understanding the need to build a culture which values and recognizes the role of entrepreneurship and self-employment, the Felix Okoro Memorial Fund for Entrepreneurial development will provide an annual cash award to young people in Nigeria who emerge as winners of the competition.
Up to USD2000 are up for grabs in the Fomfed Prize 2011 as follows:
1st Postion
- USD1000
- A Winners Plaque
- Attachment to a mentor/Business Adviser
- Training Package
1st Runner Up
- USD600
- A Winners Plaque
- Attachment to a Mentor/Business Adviser
- Training Package
2nd Runner Up
- USD400
- A Winners Plaque
- Attachment to a Mentor/Business Adviser
- Training Package
To Apply for the Fomfed Prize 2011, click here
