A 400-level student of Ladoke Akintola University of Technology (LAUTECH), Hikmah Omolola Olatunji and 19 others have emerged winners of this year’s Business Development Competition organised by Zakat and Sadaqat Foundation (ZSF).
The ninth edition of the annual competition produced 10 winners in the N1 million each category and another 10 winners in the N200,000 category.
The Nation learnt that over 800 people applied for the competition.
The cheques were presented during a ceremony at Westwood Hotel, Ikoyi, Lagos.
The Executive Director and Chief Executive Officer of ZSF, Prince Sulaiman Olagunju, said the goal of the foundation has always been to helping youths grow in their various businesses through provision of capital seeds and mentorship.
“Our goal has always been to empower youths with not just the capital, but also the tools, knowledge, and networks needed to succeed. Our training sessions and the mentorship platform have equipped winners with essential skills and insights guiding their entrepreneur journey,” he said.
Prince Olagunju advised the winners to judiciously utilised the funds giving to them, noting that the grant is a trust which they must use for the purpose meant for.
He said: “The seed capital you are receiving today is the first step in a long and rewarding journey. The real challenge lies ahead, turning these business ideas into thriving enterprises that will contribute to our economy, create jobs, and inspire others to follow in your footsteps.
“To our winners on the Growth Track, you know what it takes to get additional fund injected, kindly use the fund you are receiving here today wisely to take your business to the next level.”
Olatunji, who specialises in sales of women underwears, couldn’t hide her joy.
She thanked the foundation and promised to judiciously use the fund given to her in boosting her business.
She said: “I am grateful to God for making me one of the beneficiaries of this competition. This grant will help my company achieve its objectives as mentioned in the business plan which will contribute to the growth of the business in terms of visibility and revenue. My vision is to to become a major distributor of underwear products by this time next year.”
Another winner, Habeeb Issa, who specialises in beehives, assured the organisers of channeling the fund into boosting his business as he appreciated the gesture.
Isa said the grant came as a surprise to him though he was determined to win the grant but never thought he could get that much. He prayed God bless the ZSF for their kind gesture towards the growth of his business.
Isa said the fund would make him take his business to mechanical level by procuring modern tools.
