Funding

Reckitt Nigeria Awards N37.8 Million in Seed Funding to Small Businesses Through Innovative Social Enterprises.

Reckitt Nigeria has awarded N37.8 million in seed funding to six social businesses to support their innovative solutions aimed at addressing critical health challenges in Nigeria. This initiative is part of Reckitt’s WASH (Water, Sanitation, and Hygiene) Accelerator program held in Lagos, which seeks to foster collaboration and innovation in the health, hygiene, and nutrition sectors.

Beneficiary Businesses

The recipients of the seed funding include:

  1. SOSO Care
  2. Onyeisi Care Foundation
  3. Alora Reusable Pads
  4. Toilet Pride
  5. Kiddies and Brand

Each business will receive N6.3 million, along with comprehensive support to ensure their success and sustainability.

Read:  Entrepreneurship World Cup 2024 Pitch Competition for Entrepreneurs ($1million prize)

 Support Package

In addition to the financial grant, the businesses will benefit from:

– Five months of intensive boot camps

– Over 30 hours of skill-based volunteering

– 36+ hours of dedicated mentorship

– Continuous guidance from Reckitt mentors

This support is designed to help businesses develop effective and self-sustaining income models, ensuring long-term impact and change within their communities.

 Program Highlights

The impact of these businesses was highlighted in a documentary titled “Let’s Build for Humanity,” showcasing their journey and achievements. Reckitt’s Head of External Communications and Partnerships for Sub-Saharan Africa, Cassandra Uzo-Ogbugh, emphasized the importance of supporting social enterprises that understand and address the specific needs of their communities.

Read:  Harvard’s Africa Business Club offers startups $50k cash prizes.

Cassandra Uzo-Ogbugh stated:

“By supporting these social enterprises with mentorship, training, and the Seed fund, we are addressing immediate hygiene challenges and building sustainable solutions that will benefit communities for years to come.”

Ongoing Support

Reckitt also announced post-program support for the next 12 months, ensuring that the enterprises continue to receive mentorship and guidance to succeed. This long-term commitment underscores Reckitt’s dedication to fostering sustainable health and hygiene solutions.

Testimonials

Read:  AGF, Vista plan $50m loans for SMEs

Nonso Opurum, founder of SOSO Care, expressed gratitude, saying:

 “The seed funding and mentorship are crucial in helping us scale our solutions and reach the communities in need. I am especially excited and motivated to continue the amazing work we are doing, knowing that we have Reckitt’s backing to create a healthier and cleaner environment for everyone.”

Reckitt Nigeria’s WASH Accelerator program exemplifies the company’s commitment to addressing health challenges through innovative social enterprises. By providing financial support and comprehensive mentorship, Reckitt is enabling these businesses to create lasting, positive change in their communities.

Related posts

Subsidy: FG to disburse grants to SMEs

NigGal

STARTS4AFRICA Launches Groundbreaking Residency Programme

NigGal

SMEDAN empower women entrepreneurs with grants

NigGal

Interest-free loans are crucial for the survival of small businesses and farmers

NigGal

UBA approves $6bn to boost SMEs in Africa

NigGal

Green finance: Stakeholders seek improved SMEs funding

NigGal

Leave a Comment