Nurturing local talent: Union Bank’s commitment to young entrepreneurs

L-R: Head, SME Segments, Union Bank of Nigeria,Ayokunnumi Abraham; 3rd place winner, Ruth Ogbodu; 1st place winner, Yemisi Otokiti; 2nd place winner, Olanrewaju Amodu; Alpher Experience Manager, Union Bank of Nigeria, Chinenye Ekwulugo; Brand Sponsorship & Partnership, Union Bank of Nigeria,Ebunoluwa Amusan and Convener, Youth Leadership Conference,Olusegun Odufuwa, during the RISE Business Challenge sponsored by Union Bank of Nigeria held recently at the University of Lagos, Akoka

Stanley Ihedigbo

Union Bank has reaffirmed its commitment to nurturing local talent and supporting young entrepreneurs in Nigeria.

Through various initiatives and programmes, the bank aimed to provide resources, mentorship, and financial support to help young entrepreneurs turn their ideas into successful businesses, driving economic growth and innovation in the country.

Dubbed Turning Point 6.0, the Resilience, Innovation, Social Responsibility, and Entrepreneurship (RISE) Challenge is a collaboration between Union Bank and the conference convener, Mr Olusegun Odufuwa, to empower youth-led businesses with financial and mentorship support through a pitch competition.

Targeted at uplifting young men and women with requisite entrepreneurial skills, the event aligns with one of the Bank’s primary objectives of encouraging Made In Naija and the next generation of Nigerian innovators and business leaders, culminating in positive social impact and sustainable economic growth.

The competition also aims to identify and reward outstanding business ideas demonstrating viability, sustainability, and social impact.

This year’s RISE Challenge winners were chosen after a rigorous selection process involving participants sending their proposals for a team of judges and business experts to assess.

The final four selected competitors then pitched their ideas individually to a panel of judges, who chose the winners based on innovation, social impact, sustainability, and financial viability.

The first, second and third places received cash prizes of N1,000,000, N750,000, and N250,000, respectively.

During the event, Ayokunumi Abraham, Head SME of Union Bank of Nigeria, said, “Union Bank is passionate about supporting Made In Naija and youth-led businesses to scale for sustainable growth. We believe this will not only boost and nurture upcoming enterprises but also create a positive ripple effect that will drive employment, innovation, economic opportunity, and access that will empower small and medium businesses across the length and breadth of the country.”

The RISE conference is a premier annual gathering designed to equip young leaders and entrepreneurs with the resilience, innovation, and social responsibility required to thrive in today’s fast-paced world. This year’s edition attracted diverse attendees, including young professionals, entrepreneurs, business executives, policymakers, and thought leaders.

Union Bank will continue to promote Made In Naija and young innovators to drive economic growth and strengthen its position as a leading bank for entrepreneurs.