Oluchi Chibuzor
Sahara Foundation, a corporate citizenship vehicle of energy conglomerate Sahara Group, has empowered 11 social innovators with Five thousand dollars each to further deepen their commercial viability.
Speaking at the Sahara Foundation and Leap Foundation Social Innovation Programme and Award presentation 2022, held in Lagos, the Executive Director, Sahara Foundation, Pearl Uzokwe, said they would continue to support entrepreneurs in line with their mission of deepening social innovation ventures.
She stressed that beyond seed funding entrepreneurs must have the right tools and mindset to manage social innovative ideas into viable commercial businesses.
She said, “So, we are partnering with organisation to ensure that these fellows are taught the rudiments that will ensure they are investment ready, commercially savvy and their mindsets are changed. It is ensuring that they infuse good governance into the ways that they run their businesses across Africa.
“Looking back over the years, Sahara founders have always had it in their DNA to give back to society; how do we give back in a way we feel is good for purpose, solve, push and ensure that we are moving this continent along. It makes sense to tap into one of those ecosystems that we already understand which is entrepreneurs and to go on better, we decided to look for entrepreneurs who are not just doing well on the economic side but those who are doing good.
“So it is to do good and do well, that is what we are looking at and that what they are doing is solving social problems. At the same time those businesses have commercial viability, that is critically important to us.”
She further noted that “With the social impact Fund fellows we have today, they all have been tasked to be looking for innovations that will improve access to energy. We have individuals essentially providing solar in very remote areas and communities. It is fantastic to see that these individuals will go to areas we as an organisation cannot possibly get to.”
Explaining about the impact programme, she said the programme ensured that “we have fellows who have strong commercial acumen so that as they are solving these social problems, they have businesses that would stand the test of time.
