The Managing Director and CEO of the Bank of Industry, Olasupo Olusi, has announced plans to launch an Impact Fund and a Youth Bank aimed at fostering enterprise development and promoting youth-led industrialization in Nigeria.
During the inaugural Innovation and Entrepreneurship Development Annual Lecture at Obafemi Awolowo University in Ile-Ife, Osun State, Olusi emphasized that these initiatives align with the Federal Government’s Renewed Hope Agenda and are designed to address funding gaps for youth-led businesses and innovation-driven enterprises.
He stated that the forthcoming BOI Impact Fund will utilize various financial instruments, such as debt and equity, to support high-growth enterprises and key value chain companies, while also offering essential assistance to struggling businesses.
“I want to announce that in line with the current administration’s Renewed Hope Agenda, BoI is supporting the Federal Government’s drive to create a Youth Bank which will focus entirely on developing youth entrepreneurship,” Olusi remarked.
