To foster the establishment and growth of over 1,000 businesses by 2005, and 5,000 businesses by 2015. These businesses will in turn lead to the creation of employment for at least 50,000 Nigerians by 2015.
FATE Foundation is a non-profit, private sector led organisation. It was created and funded by Nigerians in March 2000, because they felt that the viable youth of Nigeria are able to directly attack the high rates of unemployment and poverty in Nigeria.
Mr. Fola Adeola, founder and pioneer MD of Guaranty Trust Bank, birthed the FATE dream. Thereafter, he shared this dream with a group of Nigerians that they may support and give life to the vision. They included: Mr. Asue Ighodalo, Mr.Gbolade Osibodu, Mr. Chima Onyekwere, Chief (Mrs.) Taiwo Taiwo, Mr. Tayo Aderinokun, Dr. Gabi Williams, Mr. Faysal El-Khalil, Mr. Bayo Adeola, Mr. Bode Agusto, Mrs. Kathryn Hoomkwap, Ms. Tutu Sholeye, Ms. Ifueko Omogui, Mrs. Stella Okoli, Mrs. Ndidi Nwuneli and Mrs. Bunmi Lawson.
In year 2005, having successfully surpassed its year 2005 vision of fostering the establishment and growth of 1000 businesses, other well-meaning Nigerians were brought on board the leadership of the Foundation as members of the Board of Directors to support the founder and chairman of FATE Foundation, Mr. Fola Adeola, for the take-off of the second phase of FATE’s vision. They include Mr. Sola Adeeyo, Engr. Bayo Adeola, Mr. Tayo Aderinokun, Mr. Mohammad Ahmad, Mrs. Bola Adesola, Mrs. Habiba Balogun, Mrs. Sola David-Borha, Chief (Mrs) Maiden Ibru, Mr. Aigboje Aig Imoukhuede, Mr. Asue Ighodalo, Mr. Olarenwaju Olusola, Justice Binta Murtala Nyako, Mr. Oye Hassan-Odukale, Chief (Dr.) O. Osunkeye, Mr. Chris Nonyelum Okeke, Mallam Kabiru Abdulahi Yusuf and Mrs. Osayi Alile Oruene.
The impetus behind FATE stemmed from a strong concern for the high levels of unemployment and poverty in the country. FATE is committed to assisting Nigerian youth to establish and grow successful businesses by equipping them with the tools, skills, networks and financing required for this task.
Indeed, FATE's mission is to foster wealth creation by promoting Business and Entrepreneurial development among Nigerian Youths. The vision behind this is to foster the growth and establishment of over 1,000 businesses by 2005 and 5,000 businesses by 2015. These businesses will lead to the creation of employment for at least 50,000 Nigerians by 2015.
Since FATE's inception, it has worked and continues to work with global corporations, institutions, and organizations. It has along with these, also received tremendous support from public-spirited individuals. In addition, the visionary board of directors has focused time, energy and resources towards the continuous growth and development of FATE. These all, have contributed immensely to FATE's success through their steadfast and tireless support and possess a worthy share of the impact and acclaim that FATE has achieved thus far.