TheCable

Oak Nation Entrepreneurial Foundation, in partnership with the US State Department, is seeking to train 20 entrepreneurs on how to get their businesses ready for raising funds. 

According to the World Bank, access to finance is a key constraint to small and medium-scale enterprises (SMEs) growth; it is the second most cited obstacle facing SMEs in emerging markets and developing countries.

The Foundation says this problem is multifaceted as many lending institutions also report that many African businesses are not investment-ready.

Oak Nation Entrepreneurial Foundation, which works to help micro, small and medium scale entrepreneurs start, grow, and scale their businesses, added that it is taking up this challenge to help businesses get ready for investment.

Oluwatoyin Ajilore, the president of ONE Foundation, as the foundation is popularly called, reported that the organisation is actively working to help MSMEs make their business investment-ready and also eventually secure the capital they need to scale.

“As part of our solution strategy, ONE Foundation announces her project in partnership with the Reciprocal Exchange Component of the Mandela Washington Fellowship, funded by the US State Department tagged  ‘Countdown to Capital'”.

Countdown to Capital aims to trains 20 entrepreneurs who are about to raise funds to scale their business on practical strategies to make your business fundable and investment-ready.

The foundation is asking entrepreneurs and businesses seeking to raise capital to apply for the project here, on or before June 5, 2022.

ONE Foundation was founded in 2018 with the mission to empower entrepreneurs and social entrepreneurs in Nigeria and Africa.