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  Statement of need
  Accomplishments
  Words from the Chairman
  From the Executive Director
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  Our Staff
  Our Board
     
 

 

 
OUR ACCOMPLISHMENTS

Specifically FATE's eighteen member Board, composed of leaders in the Nigerian private sector, 26 full-time staff and over 700 volunteers have successfully:

  • As at July 2005, FATE had assisted 1,806 of its participants to establish and operate fast growing businesses, consequently, surpassing its vision of fostering 1,000 businesses by 2005.

  • Graduated over 800 entrepreneurs from the FATE Aspiring Entrepreneurs Programme and Emerging Entrepreneurs Programme, with over 65 percent of these entrepreneurs fully employed by their businesses and employing an average of four staff each.

  • Established a branch office in Port Harcourt for the Niger Delta region in 2002 after securing over two years funding to cover its operation costs. The funds were secured through the Development Marketplace Competition organised by the Development Market Place Competition Department of the World Bank in January 2002 in which FATE emerged the only Nigerian NGO out of 1,200 NGOs that entered for the competition to place among the 34 winners, and the SME Department of the bank.
     
  • Hosted several conferences such as Business Forum, Alumni Conference, Business Plan Competition, all of which were attended by business leaders within and outside the country, and afforded participants quality networking opportunities.

  • Mobilised an incredible number of over 700 private sector professionals to volunteer as facilitators, mentors and consultants who assist FATE in ensuring the excellent delivery of its training programmes. Without volunteers, it would have been impossible to execute all FATE programmes at the high level of professional standards it has become associated with and at the same time maintain low overhead costs.

  • At the vanguard of the entrepreneurial renaissance being witnessed in the country; employing various media - print, electronic and public presentations - to advance the ‘gospel of entrepreneurship’. FATE has also contributed to various Developmental agency initiatives in the area of entrepreneurial development among which include, United Nations Industrial Development Organization's quarterly meeting with the organized private sector; The Nigerian Economic summit Group and the Bankers committee Small and Medium Industries Equity Investment Scheme (SMIEIS) initiative.

  • Instituted the FATE Model Entrepreneur Award in year 2001 and FATE Alumni Model Entrepreneur Award in year 2002 to honour deserving Nigerian entrepreneurs who havetraveled and triumphed over the sometimes hostile business landscape of the country in the pursuit of their entrepreneurial dreams. FATE Foundation has received immense support from the world's leading business schools, on the FATE Model Entrepreneur Award. Wharton Business School and MIT have provided executive business education programmes for winners of this award.

  • Provided training sessions and workshops for the staff and beneficiaries of over ten NGOs.

  • Generated over N4.61 million ($38,000) in 2003 from ancillary services, programme fees and N6 million ($13,333) in kind donations from local fund raising efforts.

  • Raised an Endowment fund amounting to N52.8million to ensure the long-term sustainability of FATE. Through the support of a strong board, composed of 18 individuals from the Nigerian private sector, FATE has involved the community in contributing to the sustainability of FATE and the achievement of its mission. It has created an endowment fund with support from its donors. We intend to generate N100million ($833,333) by December 2002 with the aim of growing the fund to N500million ($4.2 million) by 2005. Members of the Board have made pledges ranging from N10m ($83,333) annually to N500,000 ($4,166).

FATE is currently on series of collaborations, targeted at the needs of FATE Alumni. These involve strategic relationships with several banks with regards to equity financing for FATE Alumni. Venture capital companies will also form part of this relationship.

 

 
     
 
 
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FATE Foundation Lagos 

Water House, 1st Floor, The Lagos State Water Corporation, Ijora Causeway, Ijora P.O. Box 54495 Ikoyi, Lagos, Nigeria.
Tel: +234 1 470-6836/40, 07028204671, 08033712865
Email: info@fatefoundation.com
Direct all comments to webmaster@fatefoundation.org

 
 
 

FATE Foundation Port Harcourt

141, Olu Obasanjo Road, Charis Plaza, Besides Skye Bank, Port Harcourt, River State, Nigeria. Tel: +234-84-743525, 084-771040, 08032011591, 08055325314

   
   
 
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