WORDS FROM THE CHAIRMAN
Founder/Chairman of the Board
Our progress as an organisation has continuously increased our proposed target to create wealth in our society and nation at large. After long exceeding our initial set goals to create 1000 businesses by 2005 which we created over 1800 businesses in that same year, our target of creating 5000 businesses by 2015 is surely at our doorstep. Our focus this year has been narrowed on tackling the challenges associated with Micro, Small and Medium size Enterprises and the attainment of part of our goal; which is helping entrepreneurs sustain their young businesses.
I am pleased to present to you highlights of the fifth Annual Impact Report and Financial Statements of FATE Foundation for the year ended, 28 February 2008. In the 2007/2008 reporting year, we graduated a total of 212 participants of the FATE Aspiring Entrepreneurs programme and trained another 11 for the Emerging Entrepreneurs Programmes. A total of 1475 persons were trained at FATE Half-Day Workshops from our Lagos and Port Harcourt operations. Presently the percentage of FATE Alumni who engage in their business particularly in the Services sector has increased to about 76%.
When we positioned our focus on tackling the issue of entrepreneurial financing, the achievement of this mission was given tremendous boost by the exceeding support we received from our stakeholders and donors. This year also saw FATE Foundation partnering with a Lift Above Poverty Organisation a Micro-Finance Firm on the provision of funds for FATE Alumni. Our decision to go this lane was as a result of the continuous feedback we get from our Alumni on the challenges they face in the market place, this witnessed an upsurge in the level of business opportunities available to our alumni and in turn add to the development of the Micro Finance sector. As it with FATE Foundation, every step we take creates wealth as well as develops the society and economy at large.
The year 2007 saw FATE Foundation create a win-win situation for our alumni, organisation and other stakeholders. This year shed a greater light into the bright to which our economy is stepping into. Our alumni network has continued to produce tremendous result for themselves which complements our effort and most importantly our stakeholders input in the FATE dream and a better Nigerian economy. The challenges we faced this year has doubled our effort in realising our dream of producing one entrepreneur per household.
As efforts doubled so has the demand for FATE services in different parts of the country. To this effect we are concretizing strategies on how to ripple FATE developmental impact to other parts of the nation.
FATE Port Harcourtís impact in the Niger Delta has increased immeasurably as more participants have attended our regular programmes this year than any other year, we expect even more participants this year.
Our optimism in our vision to help develop our economy through wealth creation is a great factor in the achievement of our goals nevertheless we still face challenges and obstacles that other NGOs face in terms of finance and other forms of support yet success upon success has been our story. Indeed the work is tasking but our dedication and quest for success is greatly unmatched. The future without an iota of doubt is ours, yet we still continue to reach out to accomplished individuals from all sectors that will help achieve the FATE dream.
I humbly express my profound gratitude to those who chose to believe and support the FATE mission. I thank our amiable members of the Board of Directors, for their unflinching support. I strongly commend their degree of commitment and passion for the FATE course. I thank our donors for their continuous resources to drive FATE Foundation to her desired position. I exceedingly appreciate all FATE volunteers; over 700 men and women who give their valuable resources and time to building a thriving society.
I deeply acknowledge and thank our friends of the media and the staff of FATE Foundation.
Enjoy reading our Impact Report.
I thank you all.