Benue mulls BIPC Trust Fund for young entrepreneurs

The Benue Investment and Property Company Limited (BIPC) says it would soon establish the BIPC Trust Fund to provide financial support and resources for young entrepreneurs.

 

The Managing Director of BIPC, Mr Raymond Asemakaha, made the disclosure on Saturday during a virtual town hall meeting tagged “Advancing Economic Development in Benue State: Our Recent Achievements and the Future Outlook.”

 

Asemakaha said that the establishment of the BIPC Trust Fund was to enable the young entrepreneurs to start up their own businesses.

 

“By redirecting Benue youths into the business ecosystem, BIPC aims to create a vibrant entrepreneurial culture in the state.

 

“The establishment of the Benue Investment Trust Fund is a significant step towards achieving this goal, and it is expected to have a positive impact on the state’s economy.

 

“This initiative aims to empower young people in the state to become entrepreneurs and job creators,” Asemakaha said.

Fighting poverty through industries: The Benue example

He further said that the current initiatives of the company were aimed at redirecting Benue youths into the business ecosystem.

 

“Even though the state has multi-sectoral challenges, Gov. Hyacinth Alia has headhunted technocrats like me who are fixing it and redirecting the state economy to take its original place.

 

“Jobs lost from 2014 to 2023 is pegged at 907,676 in the Small and Medium Scale Enterprises (SMEs) sector. This administration is able to reverse the negative growth from -3.2 to positive just within one year.

 

“Output has to exceed population growth going forward, though presently, our output growth is low in relation to population growth.

 

“That is why we are coming up with effective strategies and policies to create an enabling environment for businesses to thrive.

 

“The such policies include the Benue State Inclusive Economy Policy, the Benue State Policy on Micro, Small, and Medium Enterprises, and the Benue State Industrial and Trade Policy, among others,” he said.

 

BRANDECONOMY reports that the virtual town hall meeting, which was hosted by Irene Azubuike of Viider Consulting, provided a platform for stakeholders to engage with BIPC general manager.

 

BRANDECONOMY reports that the participants shared their thoughts on the initiative, expressing hope and potential to transform the Benue business landscape.