Life Continental Breweries offers additional N3m grant to 12 young entrepreneurs

Life Continental Breweries has offered fresh grants of N3 million to 12 young entrepreneurs from the South East to realise their business ideas under the company’s entrepreneurship development project.

The News Agency of Nigeria recalls that Life Continental Breweries, which was acquired by Nigeria Breweries, had earlier in the year provided N3 million grants to 12 young entrepreneurs in its ongoing “Life Continental Beer Progress Booster Radio Project”.

The company has earmarked N14.5 million to assist 50 young entrepreneurs in the South East states of Abia, Anambra, Ebonyi, Enugu and Imo.

The grant of N250,000 was handed to each of the 12 winners in the premises of Nigeria Breweries, Ama in Enugu by the Head of the Brewery, Abiodun Ajayi.

Ajayi advised the winners to ensure that their investments would yield returns for them to graduate to employers of labour.

He said: “With this, Life has so far supported 24 young entrepreneurs since the commencement of the programme in May and plans to extend the grants to another 26 more people interested in growing new businesses.

“These young entrepreneurs, whose business ideas have been adjudged worthy of Life Progress Booster prizes, will receive N250,000 each as grants to bring their business ideas to life.

“As you receive these cash grants today, we expect you to succeed in the business line you have chosen.

“Make judicious investment of the money given you and ensure that your investment is yielding returns and your business capable of making you an employer of labour as you trudge on in your business journey.

“If you succeed in taking your business idea to the next desirable level, you stand a chance of receiving additional financial support.

“Let me assure you that we will not be leaving you all to yourself on this journey.

“The panel of experts that assessed and judged your business proposals will be monitoring your progress and they will be there to mentor and provide valuable advice when necessary.”

Ajayi also urged the winners to be good ambassadors of the zone as well as that of Life Progress Booster project and Life Continental Beer.

Ajayi said budding entrepreneurs, whose business proposals would be considered, must have a workable business idea, be from the South East zone, reside in the zone and must be 18 years and above.

One of the winners, Christian Udeh, with paint making business proposal, said he would use the grant to buy machinery for mass production, which would enable him to cut cost and compete favourably in the growing paint market in Onitsha, Anambra State.

Miracle Akagha, another winner with mobile small fries proposal, said the grant would enable her to buy bigger cooking utensils and gas cooker to meet the demand of her customers in Aba, Abia State.

Life Continental Breweries had in June won Gold in the prestigious Monde International Quality Award 2015.

The gold medal award was in recognition of Life beer as a high quality beer with national and international appeal.