• Thursday, March 28, 2024
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International Breweries holds Kickstart Initiative, empowers ‘youthpreneurs’ with N60m grant

International Breweries releases N100m as seed fund for Hero Apprenticeship Scheme

International Breweries Plc. has concluded an arrangement to hold the sixth edition of the Kickstart Awards Initiative Tuesday to empower another set of youth in business.

Kickstart is a youth empowerment initiative by makers of Trophy, Budweiser, and Hero lagers, International Breweries Plc, a proud part of AB InBev, the world’s largest brewer with over 400 beer brands.

The event this year will host major stakeholders from the Office of the Vice President of Nigeria, Yemi Osinbajo; Ministry of Youth and Sports; Small and Medium Enterprise Development Agency of Nigeria (SMEDAN); Ministry of Labour and Productivity; Lagos State Ministry of Wealth Creation and Employment and Lagos State Employment Trust Fund, according to a statement.

Read also: Nigeria’s stocks gain N643bn as investors buy Airtel, MTNN

The initiative, according to the statement, creates a culture of entrepreneurship in young people (aged 18 —35years) and empowers them through Training, Capital (Grants) and Mentoring. “This year, applicants whose businesses centre around Agriculture, Modular Retailing, Circular Packaging (Recycling), Technology, Water Stewardship and Renewable Energy will emerge winners. All the winners will receive a combined grant of N60 m to set up or scale their business.

According to Peter Bamkole, Chairman, Advisory Board, International Breweries Foundation, “As a social investment scheme, Kickstart Initiative has been at the forefront of entrepreneurship promotion and offering the much-needed business support through training, mentorship, and provision of start-up capital grants for the creation of new businesses and expansion of existing ones”.

In the past editions, over N325 million has been given out in grants to kickstart businesses across the nation. This has recorded over 2,000 direct and indirect beneficiaries whose businesses cut across Agriculture, Manufacturing, Fashion, Technology, and Beauty amongst others.