The first three months of 2014 have been a particularly eventful and impactful time for Generation Enterprise in terms of collaborations and partnerships with both new and existing donors, as well as increased investment in our entrepreneurs. To get caught up on all the exciting news, check out our Q1 Impact Newsletter!
But for now, we’ll turn our attention specifically to the buzz being GENerated by our talented team in Nigeria:
- Business Development: US Team Visit
On February 14th, GEN’s staff and volunteers in Nigeria welcomed their US counterparts to Lagos. Everyone had a great time bonding as one big family; sharing experiences, successes, and challenges; and —most importantly—discussing their visions of the bigger picture for GEN as a whole. Additionally, over the course of the 10-day visit, the teams participated in a variety of activities:
- Visiting all the GEN centers in Nigeria to capture video stories of the fellows, collect baseline surveys, and reinforce the system of metrics applied to business data and transaction recordings
- Beginning the investment process for Lagos Province 24 (LP24) and Osun Youth Empowerment Scheme (OYES) Fellows
- Recruiting new volunteers
- Training Business Development Officers (BDOs)
- Reviewing the Fellows’ portfolios and brainstorming on potential joint venture experiments with a few of the most high-performing fellows
- Visiting both current and potential donors and corporate partners (including the Lagos State Government, McKinsey, Tony Elumelu Foundation, 234Give.com, Manufacturing Today, WAPA, TY Danjuma, Redeemed Christian Church of God (RCCG) LP24 & Area 21, Business Day, etc.
- Business Development: Streamlining Procedures and Processes
Bunmi Otegbade has been hard at work getting the whole Nigeria team working together as one cohesive unit, sharing the same broad goals and objectives while keeping tabs on each other’s progress through regular meetings and updates. The team developed an outline for a work plan for the second quarter of this year, and has also begun implementing processes for staff performance appraisals.
- Fellows: Zest Cleaning Services Joins GEN!
In February, GEN officially welcomed Zest Cleaning Services into its fold to join a steadily growing list of young entrepreneurs in Lagos. Zest is run by Zega Terdoo, a formerly unemployed, homeless, and uneducated youth, whose business provides general cleaning and fumigation services for both private and commercial properties. Learn more about Zega and Zest on our brand new dashboard!
- Fellows: Joint Venture Testing With Alimosho Fellows
As part of our big picture goal of continuously providing jobs for more youth, GEN is collaborating with a few high-potential fellows and businesses to test a joint venture business model. The goal of this model is to ensure increased revenue for the businesses in order to create a positive feedback loop that will provide a larger numbers of jobs for the community.
- Fellows: Segal Family Foundation Visit
On April 1st, Segal Family Foundation (SFF) representative Andy visited GEN’s Alimosho Centre to observe first-hand how GEN’s activities affect the lives of Nigerian youth. The Fellows happily shared stories about their businesses with him, highlighting their financial data and describing the positive changes that GEN has facilitated for them.
- Partnerships: Generation Enterprise and Redeemed Christian Church of God – LP24 Invest N1.1 Million ($6,875) in new youth-run businesses
On February 16th, after a few months of intensive business training and idea testing, GEN collaborated with RCCG-LP24 to present 11 young business owners each with N100,000 ($625) of start-up capital. To date, N516,000 ($3,225) of that funding has been disbursed among the following entrepreneurs: Akolade Folusho (Shoe making), Babatunde Funmi (Recharge card voucher), Nwankwo Chizoba ( Soap making), Sasore Abigail (Soap making), Toyin Ogunleye (Soap making), Akpotu Peace (Hair Salon), Oretan Kehinde (Ankara bags and shoes), Adebayo Olaoluwa (Event Mgt. & Decoration), Lameed Olaoluwa (Fish selling), and Popoola Bukola (Baking).
- Partnerships: Fundraising With 234Give.com
GEN registered with 234Give.com, a Nigerian online fundraising platform. As part of a challenge with other member organizations, GEN successfully raised the greatest amount of donations (N494,000 – $3,087) and received an additional N500,000 ($3,125) in matching funds from Access Bank, a local financial organization.
- Training/Learning: Curriculum Review
Precious Ofodum and Emmanuel Odufejo are leading the charge in reviewing and updating GEN’s curriculum to make it even more effective and powerful for the future classes of fellows.
- Training/Learning: BDOs
Jojo Zhao, from GEN’s DC team, did an excellent job of taking the BDOs through a very detailed review of important business terminology and the proper use of spreadsheets—both very valuable skills that will go a long way in helping to build an efficient data reporting system.
Emmy is a full-time Business Development Officer at Generation Enterprise. He is responsible for GEN’s entrepreneurship trainings and database management in Nigeria. Emmy is the Author of the Nigerian Bestseller “Dare To Stand Out – for young entrepreneurs.” He is a passionate educationist with a Masters Degree in Educational Administration and Planning from the University Of Lagos, Nigeria. He is also the founder of Master Mindz Afrika, a non-profit solely dedicated to entrepreneurship and educational development.