The Lagos State Empowerment Trust Fund (LSETF), said it had received $100,000 grant donated by the Ford Foundation to help in documenting their learning and also support the employability programmes of the Lagos State Government initiative.
Super pleased to receive a grant of $100,000 from Ford Foundation to conduct an impact assessment exercise and document our learning at @LSETF, and also support Lagos State’s employability programmes.
— Akin Oyebode (@AO1379) October 1, 2018
This announcement was made known by the Executive Secretary of the Trust Fund, Akin Oyebode on twitter. The secretary disclosed that the fund from the philanthropic giant would be used to also conduct an impact assessment exercise which it would use to evaluate its potential effects to the Lagos entrepreneurial populace.
He also noted that the primary concern of initiative was to ensure that the infrastructure and enabling the environment to drive entrepreneurship across Lagos was fully in place.
“Documenting lessons is a critical part of what we do. Not only do we get to share successful models with other states and even external parties, we also help them avoid making the same mistakes,” Akin Oyebode said on Twitter.
The funding, according to the Akin Oyebode, was facilitated under the leadership of the Director, Strategy, Funding and Stakeholder Management at Lagos State Employment Trust Fund, Abosede Alimi.
The Lagos State Employment Trust Fund (LSETF), was established by The Lagos State Employment Trust Fund Law 2016 to provide financial support to residents of Lagos State, for job, wealth creation and to tackle unemployment. Serving as an instrument to inspire the creative and innovative energies of all Lagos residents and reduce unemployment by improving access to finance, strengthening the institutional capacity of Micro Small and Medium Enterprises (MSMEs) across the State.
The Fund has the mandate to directly invest N25Billion to create 300,000 direct and 600,000 indirect jobs within three years, by supporting at least 100,000 MSMEs in 3 years.
About Ford Foundation
One of the world’s largest and most influential private foundations in the world, Ford Foundation was established in 1936 by the President of the Ford Motor Company.
The Foundation supports a great variety of projects/organisations in the fields of education, capacity building, human rights promotions, gender equality by providing priority funding under certain schemes for organisations working in Africa, Asia, Latin America and North America.
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