YouthBank, a community-based non-profit micro business incubator, on Friday, launched its pilot programme at the US consulate Public Affairs Department, Lagos Island. The programme began with a two-week training of eight youth in photography, entrepreneurship, leadership skills, and customer relations.
According to Clara Chow, who led the YouthBank USA team, the YouthBank model covers both training and financial empowerment.
“There are two phases of the YouthBank. The first part is training. A lot of microfinance organisations provide funds without training while some organisations provide job training with actual employment afterwards. The YouthBank model actually accounts for every step of the process,” Ms. Chow said.
Victor Gotevbe, who leads YouthBank Nigeria team said the team consulted extensively with the youth to fashion out ways in which the model will work in Lagos.
The YouthBank Model
Ms. Chow explained that the YouthBank model involves four stages: entry, employment, entrepreneurship, and independence.
At the entry stage, the fellows are accepted after screening and they undergo two weeks initial training. 54 youth applied for this first phase.
The employment stage involves on-the-job training where the fellows will develop marketable skills and earn a living wage similar to that of Youth Corps members. This will run for five to six months.
At the entrepreneurship stage, which will last three to six months.
At the independence stage, the start-ups mature and use their cash flow to buy the business; that way YouthBank recoups its investment with which it can use to finance the next group of fellows.
Other NGOs support
Ms. Yemisi Ransome-Kuti, the executive director of the Network of Nigerian Non-Governmental Organisation, (NNNGO), advised the fellows to take advantage of the opportunity to make a difference.
“You now have the opportunity to make this country what you want it to be. They are empowering you both mentally and financially, all you need now is the passion. Go for it.” Mrs. Ransome-Kuti said.
Mylah Osifo, the executive director, Freedom Foundation, an NGO praised the YouthBank model for including leadership training.
“Youth empowerment is critical to the development of this country and it goes beyond skill acquisition. It must involve leadership training. Sorry, we don’t need a million vulcanizers,” Mrs Osifo said.
Joseph Benjamin, one of the fellows, is a secondary school graduate and lives in Ajegunle. “I am very happy I was selected for this programme. I believe I am going to be empowered and my life will change,” Mr. Benjamin said.
YouthBank was conceived in 1998 by Theodore Ogbonna, a Nigerian who heads Youth for Transparency International (YTI) - a United Nations recognised NGO in Lagos.
Reader Comments (2)
post a comment
* = Required information