Vanessa Obioha
Inspired by her late father Moshood Abiola’s philanthropic nature, Derinsola recently supported over 100 women entrepreneurs of small and medium scale enterprises (SMEs) in Abeokuta North and South with grants.
Disbursed via the Women’s Support Fund, one of the initiatives of the Derinsola Abiola Foundation, each beneficiary received a sum of N20,000 in cash to bolster their businesses or assist them in starting up new ones.
The grants initiative comes at a timely pace, especially at a period when inflation has markedly strained the purchasing power of many SMEs. According to the convener, the foundation was established to serve as a social vehicle to deliver financial support and improve human capacity development to enable local SMEs to thrive.
With the foundation still in its nascent stage, it currently beams light on empowering women. However, Derinsola showed optimism towards expanding the agency of the foundation.
“I believe, very passionately, in empowering women. When you empower a woman, you have empowered a community,” Derinsola said, highlighting the positive effects of pumping funds into the grassroots economy.
Continuing, she said: “My daddy played a key role in what I do. He has been a huge inspiration to me. It is about giving back to my society. Doing what I can for those I can with the resources at my disposal. I wish that I can do more, but I am quite hopeful that subsequently, we will be able to touch more lives.
“Nobody hopes for their project to be limited to one space. I am hoping that we can touch lives in other places, too, through a couple of projects via different platforms. Soon, we will be patterning with agencies in different states.
“We are going to have a wide range of programmes catering to a wide range of people, and not just women but will include young and elderly people. But for now, my major area of focus is my hometown.”
The occasion which took place at the Daktad Hotel and Suites had important dignitaries in attendance. They include the Chairman, All Progressive Congress (APC) Abeokuta South, Adetunji Fagbero; APC Chairman, Abeokuta North, Faidat Sarumi; Women Youth Leader, Dayo Sanmi among others.
Speaking on her social work in the different communities nestled in north and south of Abeokuta, Fagbero commended Derinsola largesse and resilience to extend her father’s legacy through philanthropy.
Recalling MKO’s impact, he said: “The late Abiola, through giving financial assistance, has supported hundreds of communities towards infrastructure development.
“It is heartwarming to witness his offspring continue in his path. Surely, the grants provided today will go a long way in boosting the grassroots economy and impacting the national GDP.”
