The Ooni of Ife, Oba Adeyeye Ogunwusi on Saturday launched N1 billion Women Owned Micro Businesses (WOMB) named after the late Abibatu Mogaji Tinubu, mother of President Ahmed Bola Tinubu. 

The monarch also honoured 100 African youths at the Oduduwa Hall, Obafemi Awolowo University (OAU), Ile-Ife, under the 2024 (fourth) Royal African Young Leadership Forum.

The businesses which were co-partners by the royal father and the Small and Medium Enterprise Development Agency (SMEDAN) with the theme: “African of the future: Better together,’ said to be the forum that aims to raise people from grass to grace. 

Speaking at the programme, Ooni Ogunwusi said, “We will raise a lot of people from grass to grace. The Africa Chamber of Commerce will continue to drive it. This is the reason why I came to the throne. We will work together with people for the betterment and great tomorrow.”

“Through RAYLF, I’m unwavering committed to leading young people across Africa to reshape the future of the continent by harnessing their potential to address critical challenges that are bedevilling the shining light of the continent’s greatness,” Ooni said. 

In his own submission, the Director General of the Small and Medium Enterprise Development Agency (SMEDAN), Charles Odii, said the new RAYLF will be the biggest network to drive the economy.

Odii, while signing the agreement with Oni, noted that the purpose of the coming together of SMEDAN and RAYLF is to formalise a partnership in launching the N1 billion women-owned micro businesses project. 

“The project is an initiative envisioned by HIM Ooni of Ife, to train, fund mentor and support female entrepreneurs across Nigeria with access to local, regional and global markets. SMEDAN committed to providing a N1 billion fund to support the WOMB project. 

“This collaboration aims to enhance the capacity of WOMB through comprehensive training, funding, mentorship and access to market programmes administered by RAYLF. Both parties agreed to work together in good faith, ensuring the successful implementation and sustainability of the WOMB project. 

“This partnership underscores our commitment to fostering economic growth, empowerment and sustainable development for female entrepreneurs in Nigeria,” the agreement reads.