Standard Chartered, FATE Foundation Launch Initiative to Empower 300 Young Entrepreneurs

A new entrepreneurial empowerment initiative has been announced by Standard Chartered Bank, through its Futuremakers global youth programme, in partnership with FATE Foundation and Youth Business International. The scheme will focus on young business owners aged between 18 and 35—particularly women and persons with disabilities—who face significant barriers to finance and business development.

The programme, which will run over the next three years, aims to support 300 young Nigerian entrepreneurs with access to low-interest loans, tailored business training, mentorship, digital tools and market linkages. The goal is to bridge the financing and skills gap that often prevents micro and small enterprises from scaling successfully.

Loans under the scheme will carry interest rates in the single digits and will be complemented by business-management training covering digitalisation, financial literacy, formalisation, marketing and growth strategy. Entrepreneurs will also gain access to advisory support and networks to facilitate sustainable growth.

FATE Foundation’s executive leadership explained that the partnership aligns with their mission to advance inclusive economic growth by equipping young people—especially marginalised groups—with entrepreneurial capabilities. The initiative is designed to move beyond traditional grant-models by combining capital with training and inclusion.

By targeting underserved youth and women, the programme speaks directly to Nigeria’s broader economic inclusion challenge. Many young entrepreneurs cite lack of collateral, limited business knowledge and market access as critical constraints—this initiative seeks to reduce those hurdles.

Industry observers welcome the model, noting that micro-finance plus capacity building yields better long-term outcomes than credit alone. They emphasise that unless entrepreneurial training, mentorship and market access accompany finance, many small businesses still struggle to grow.

However, the success of the scheme will depend on proper implementation: identifying viable beneficiaries, ensuring transparency in loan distribution, monitoring business performance, and providing ongoing support beyond initial funding. Without these elements, the impact may be limited or short-lived.

As this initiative kicks off, young entrepreneurs across Nigeria will be watching closely. If executed well, the programme could become a blueprint for youth-financial inclusion and SME growth, potentially boosting job creation, innovation and inclusive economic development.