According to the Nigerian Economic Summit Group (NESG), Nigeria’s unemployment rate will hit 37% in 2023. In another report, it is estimated that in Nigeria, more than 55.4% of youths between the ages of 18 and 35 are currently unemployed.
These and more were the reasons why the Ugwumba Center for Leadership Development in Africa was founded in 2018 by Ugwumba Uche Nwosu with a mission to raise a new generation of leaders and entrepreneurs for Africa.
To contribute towards the reduction of the unemployment crisis ravaging the youth population in Nigeria, the Center launched the Ugwumba Enterprise Challenge, an idea pitching and grant competition for young entrepreneurs and innovators who have ideas that can be transformed into business ventures or social enterprises.
Since its inception in 2018, the Center has supported the birth of over 5,000 SMEs and startups across the country and has built a community of over 20,000 young and women entrepreneurs in Africa.
Today, most beneficiaries of the startup challenge have become employers of labor, thereby helping to reduce the unemployment crisis as well as contribute to Nigeria’s overall GDP.
Ladies and gentlemen, this is to officially announce the “Call for Applications” for this year’s edition of the Ugwumba Enterprise Challenge, which is the 6th in the series.