FATE Foundation

Tips I shared with Young Entrepreneurs at FATE Foundation

Recently, I spoke to a group of young Entrepreneurs currently attending FATE Foundation‘s Aspiring Entrepreneur Program, a program I recommend for anyone just starting out in business.

FATE FoundationI spoke on the topic: “E-marketing as a strategic marketing tool in the era of Globalization.” I was pretty excited to take this class for 2 key reasons;

  1. eMarketing is something I do, day in, day out – so it’s going to be real fun to me.
  2. I played a role in making this course a permanent part of FATE Curriculum and I am full of smiles 🙂 that my little effort paid off.

But, it was sort of a mix feeling for me because 3 years ago I was a student at FATE Foundation, that was when we wanted to launch Natureline Solutions. In fairness to FATE, I learnt so much about business and we did everything humanly possible to see that the business succeeded, we created a good business plan, hire experienced consultants to lay the foundation with us, put systems in place etc. But things did not just pan out as we had expected. To cut the long story short; the company has more or less seized to exist in Nigeria, at least for now. Another, bitter-sweet lesson for me!

So, I decided to start by sharing some of my personal experiences with them before talking eBusiness/Internet, so as to enable them understand that success in business requires more than a good business plan or fantastic business model, you need to have passion, determination, faith in your dreams etc.

I proceeded to tell them how extremely important it is to keep their overhead low and one sure way of doing that is by Leveraging the Internet and technology properly.

I admonished them to start now because the Internet will not always remain easy and cheap, especially if you want your website to rank high on the Search Engine Results Page (SERPs.) You can be sure that the number of websites getting online is on a geometric increase.

What amazes me most is that a number of people still believe that Internet penetration is low in Nigeria and I don’t mean the lower class alone, this includes the middle and upper class. You might ask, how do I know this?

Well I have trained thousands (mostly free) on the subject of eMarketing, Internet Marketing, Blogging, email Marketing, search engine optimization, social media marketing etc. and each time duty calls, I ask a couple of questions and I know the kind of objections and excuses I get.

I am not saying the Internet is all-in-all, no far from that (only God Almighty is). I also not claiming that the internet doesn’t have its negative sides – I am so scared for my innocent children and can only pray God guides them through the ‘crazy’ world of cyberspace.

That said, the Internet still holds great opportunities for the average small business owner especially those with little or no cash, as long as they create the time to do what it takes.

Notice I said “create the time” because one of the greatest excuse humans easily make is “I don’t have time” and my response is usually; you will never have the time except you create it.

Seriously, a lot of business owners still don’t have a clue what we are talking about. People still look at Nigeria with that eye(s) of “nothing works” I have tried to let them know that eMarketing and eBusiness  would work in Nigeria and has come to say. Yes, things are not what they should be but it will not always remain this way.

I had fun with these young, talented Nigerians and my final words to them where this:

  1. Keep your dream alive, don’t let anyone kill your dreams
  2. Make sure you register your domain and keep your domain registration details safely – don’t leave it to your IT guy.
  3. Make sure your website has a blog and possibly add an eCommerce platform so customers can buy from you depending on your industry.
  4. Leverage social media with tools such as Ping.fm, Tweetdeck, Seesmic etc.

That’s it. Just like I said to them, I say to you; All the Best!!!

FATE Foundation Alumni

An Open to Letter to my Fellow FATE Foundation Alumni Members

FATE Foundation AlumniRecently, we held the 1st ever FATE Foundation Alumni Association retreat at Badagry, Lagos and I must confess it was indeed a great experience, apart from the fact that I had fun and learnt so much, I met new friends which for me is extremely important.

I wrote an email to the organizers of this retreat led by our able President, Bose Oboh, (she is simply an outstanding lady), who is working hard to take the FATE Foundation Alumni Association to the next level.

I wanted to share the content with you because of the valuable lessons in it.

Read and please share my letter to members of FATE Foundation Alumni;

Fellow Travellers in the world of Business, I humbly salute all.

I start by giving a big thumbs up to Bose and the other planners irrespective of the shortcomings of the event. If Nigeria is still a baby at 50, then Bose et al are on the right track.

Personally, I gained so much and most importantly made new friends, I’ll therefore cherish this experience for a long time to come. Let me say here that I attended this retreat basically because of Bose’s newly grown marketing skills, her SMS and emails impressed me so much that I had to call her and asked “kilode”

@Everyone, let us use the opportunity the retreat brought our way to build better businesses and a stronger FATE Foundation Alumni association. Lets look closer at forming formidable partnerships when/where possible rather run a one man show that can only take us as far as we can imagine. There are only a few businesses that were not started through partnership – it is a fact that the biggest brands today are partnerships i.e. Apple, Google, HP, Facebook, Twitter, Microsoft, GTB, Access, Oando, etc.

Please find attached contact details of attendees for your use.

“Always remember that the Internet plays a major role in today’s world, irrespective of your business or industry, your prospective clients are on the internet.” Make it possible for them to find you. I’ll be here waiting for your call……

In conclusion, you need to have an open mindset and be ready for partnership opportunities. Most of our facilitators at the retreat stressed the need for small business owners to start coming together so as to Leverage on each other’s strength.

Coincidentally, I recently shared with my friend and partner, Joe Oye about the importance of genuine partnership and that the concept originated from God Almighty himself.

And God said, Let us make man in our image, after our likeness: and let them have dominion over the fish of the sea, and over the fowl of the air, and over the cattle, and over all the earth, and over every creeping thing that creepeth upon the earth. – Genesis 1:26 (Emphasis mine)

Isn’t it obvious our Creator was talking to a team?

An Invitation to attend the FATE Foundation 11th Annual Celebration

We are pleased to invite you to attend the 11th FATE Foundation Annual Celebration & Entrepreneurial Awards Ceremony to honour outstanding Nigerian entrepreneurs, and celebrate the 2011 graduands of the various FATE programmes.

The theme of the event is The Price, Prize & Pride of Entrepreneurship.

Please find the details below:

Date: Thursday, December 8th, 2011
Time: 3:00 p.m.Venue: Shell Hall, MUSON Centre, Onikan, Lagos
Guest Speaker: Mr. Adewale Tinubu, Group Chief Executive, Oando Plc

Do make it a date with us.

We look forward to welcoming you at the event.

Thank you.

Warm Regards,
Osayi Alile Oruene
Executive Director
1st Floor,
Water House
Lagos State Water Corporation Building,
Ijora, Lagos.
Website: www.fatefoundation.com
Join us: Facebook: facebook.com/FateFoundation
Twitter:  twitter.com/fatefoundation
LinkedIn: linkedin.com/fatefoundation

FATE Foundation    . . . Producing World Class Entrepreneurs

[box]CFA’s Note: I am proud to be part of FATE Foundation both as an Alumni and a Volunteer, freely giving back to the system. I suggest you attend any FATE Foundation courses before launching out your small business.[/box]

Are you going to make it?

a successful entrepreneur

Insanity is key to becoming a successful entrepreneur – Fola Adeola, Founder, Guaranty Trust Bank

Fola Adeola remains a successful entrepreneur by all standards and he is one man I know with a large heart for small businesses. FATE Foundation is 11 years old, thanks to this man who single-handedly set-up this great organisation, with the sole aim of helping people get started in business.

It is sad to note that Government still hasn’t realized the importance of Small Business Enterprises (SMEs) to the economy. While researching for this topic, I stopped over at US Small Business Administration (SBA) website and found this;

How important are small businesses to the U.S. economy?

Small firms:

  • Represent 99.7 percent of all employer firms.
  • Employ just over half of all private sector employees.
  • Pay 44 percent of total U.S. private payroll.
  • Have generated 64 percent of net new jobs over the past 15 years.
  • Create more than half of the nonfarm private gross domestic product (GDP).
  • Hire 40 percent of high tech workers (such as scientists, engineers, and computer programmers)
  • re 52 percent home-based and 2 percent franchises.
  • Made up 97.3 percent of all identified exporters and produced 30.2 percent of the known export value in FY 2007.
  • Produce 13 times more patents per employee than large patenting firms; these patents are twice as likely as large firm patents to be among the one percent most cited.

Source: SBA

The Small Business Owner in Nigeria is faced with numerous challenges that is preventing her from becoming a successful entrepreneur.

[quote]According to the US Small Business Administration (SBA) a third of businesses fail within these two years. Extended to four years, the number of surviving businesses decreases to only 44 percent, meaning that about 56 percent of businesses fail at the five-year mark.[/quote]

In my humble opinion, the percentage for Nigeria would be much higher – but that does not mean we can’t succeed. I have made up my mind to a successful entrepreneurbecome a successful entrepreneur, that is why I make out time to attend programs or events that will feature a successful entrepreneur. Thankfully, this year’s FATE Foundation annual general assembly featured Fola Adeola as the guest speaker and I was excited because this guy knows how to play the game of entrepreneurship. The topic was Growing a Successful Business and Building Strong Governance Structures“. You need to hear him breakdown the subject matter with real life examples – I was glad I attended and I left the venue much more encouraged and motivated.

Below are some of Fola Adeola’s thoughts at the event;

[quote]Establish that you are a mad man or woman if you want to be a successful entrepreneurFola Adeola[/quote]

According to him, only insane people set up businesses, especially in our clime where you have to be both the business owner as well as Government, generating your own social amenities i.e. electricity.

[quote]If you cannot become crazy in growing your business then you better go get a job because there are so many mad people out there willing to employ you – Fola Adeola[/quote]

4 characteristics of a successful entrepreneur

He talked about 4 Characteristics a successful entrepreneur should possess

  1. Discipline – keeping your eye on the ball and avoiding distractions
  2. Decisiveness – knowing what you want and going for it
  3. Determination – moving ahead against all odds
  4. Observation – ability to observe other successful entrepreneurs within and outside your industry

He made reference to two of my favourite Thomas Edison quotes;

Genius is one per cent inspiration and ninety-nine per cent perspiration and I have not failed. I’ve just found 10,000 ways that won’t work.

4 hindrances to becoming a successful entrepreneurs

According to him these are roadblocks that have to be avoided;

  1. Lack of good corporate governance
  2. Philosophy of owner/founders
  3. Lack of accountability
  4. No Planning

On constitution of a board of directors, he recommends that this should not be considered for a business with less than 25 staff and that a business owner should have two types of boards;

  • The official board members
  • The unofficial board members – mentors or coaches you look up to.

He said when he was the MD of Guaranty Trust Bank, he used to drive down to Iganmu to see Felix Ohiwerei who was then MD of Nigerian Breweries and Christopher Kolade who was then with the Lagos Business School – both men served as members of his unofficial board because they offered him insights and free advice that helped him grow Guaranty Trust Bank but they never sat on the official board with him.

When it was time for questions and answer the compère said no one should ask about finance…… story, story, story Smile trust my fellow small business owners they asked him why can’t FATE Foundation set-up a micro-finance bank?

His response; one of the things you must learn in business is that you can’t please everyone in life, so FATE is designed to be a not-for-profit, having a for-profit arm may kill the purpose for setting up FATE.

I agree with him 100% – they should just focus on training entrepreneurs and helping small businesses.

Please like it on facebook and share with your friends. I appreciate you!

My prayer and wish is that you become a successful entrepreneur sooner or later. Just don’t give up!

FATE Foundation and First Bank Business Path Radio Programme

Introducing the FATE Foundation and First Bank Business Path Radio Programme

This serves as a special invitation for you to tune in to the FATE Foundation and First Bank Business Path Radio Programme on Inspiration FM 92.3 Lagos

FATE Foundation and First Bank Business Path Radio Programme
FATE Foundation and First Bank Business Path Radio Programme

The FATE Foundation and First Bank Business Path Radio Programme is aired by 4. 30 pm every Monday. it is a richly rewarding 30 minutes programme that will cover a variety of topics to help entrepreneurs manage their businesses successfully, acquire leadership skills and overcome operational challenges.

History has taught us that more businesses will fail than survive, so it is wise not assume because you are smart and you have great idea(s) means you will succeed in business, it does not always follow. As an aspiring or emerging entrepreneur one of the things you’ve got to commit to is a lifetime of constant learning and re-learning and FATE Foundation and First Bank Business Path Radio Programme is a great place to learn new strategies from accomplished and highly successful entrepreneurs.

There will also be lots of prizes to be won FATE Foundation and First Bank Business Path Radio Programme.

The FATE Foundation and First Bank Business Path Radio Programme will feature interviews with successful entrepreneurs to discuss business strategies and a call-in segment that enables listeners to comment and ask questions. Top class entrepreneurs and management experts in the country like Mrs. Ibukun Awosika, Founder & CEO of Chair Centre; Mr. Lanre Olusola, of Image Management Consulting (IMC), Mrs. Nike De Souza, Founder People Prime Ltd, and many others, will be guest speakers on the programme.

FATE Foundation and First Bank Business Path Radio Programme schedule

Radio Programme Date: May 16, 2011

Topic: Entrepreneurship: Getting Started

  • DNA of an entrepreneur—the attributes
  • The risks and rewards of entrepreneurship
  • Identify necessary skills needed in your business
  • Visualizing your ideas

Facilitator: Mrs. Ibukun Awosika – CEO Sokoa Chair Centre

Radio Programme Date: May 23, 2011

Topic: Personal Development & Goal Setting

  • Evaluate your values, strengths, weaknesses, entrepreneurial and leadership skills
  • Understand the importance of improving personal effectiveness
  • Know how to set SMART goals
  • Know how to prioritize goals
  • Know how to achieve set goals

Facilitator: Mr. Lanre Olusola, Principal Catalyst, Impression Management Consultants

Radio Programme Date: May 30, 2011

Topic: Identifying and Assessing Business Opportunities

  • Understand various sources of entrepreneurial opportunities
  • Be able to assess the viability of a business
  • Be able to identify business ideas and exploit untapped opportunities in the market place.

Facilitator: Mr. Mac Atasie Managing Director/CEO of NEXTZON Business Services Ltd

Radio Programme Date: June 6, 2011

Topic: Start–up Cost and Financing Opportunities

  • Identify the sources of start-up and evaluate their strengths and weaknesses
  • Know how to calculate start up costs for a business
  • Understand the basic elements of the capital market
  • Learn about Nigerian initiatives to encourage business growth
  • Using financial tools to assess viability e.g. net present value (NPV), internal rates of return (IRR) , payback period (PYB) and return on investment risk assessment (ROI)

Facilitator: Yvonne Oyetakin, FirstBank

Radio Programme Date: June 13, 2011

Topic: Developing Business Model and Business Strategy

  • The importance of having a business strategy
  • How to develop a strategic plan for the business
  • Know how to implement various business strategies and models
  • Know the challenges that come with business strategies and models

Facilitator: Yinka Johnson, FirstBank

Radio Programme Date: June 20, 2011

Topic: Business Risk Assessment and Management

  • Understand the diff types of risks using SWOT analysis
  • Identify and manage potential impact of risk on business objectives

Facilitator: Seyi Oyefeso, FirstBank

Radio Programme Date: June 27, 2011

Topic: Organizational Management

  • Know how organizations are structured and the challenges associated with it
  • Learn how to delegate responsibilities for job tasks
  • Understand the importance of creating a board of directors
  • Develop a personnel organizational plan with job descriptions and include key performance indicators

Facilitator: Mrs. Bisola Longe, CEO, Human Capital Development Consultants

Radio Programme Date: July 4, 2011

Topic: Business Plan

  • Understand the importance of having a Business plan
  • Know how your business can grow through a well written plan
  • Identify tips on presenting business plans and concepts to potential investors

Facilitator: Mr. Niyi Yusuf. Country Managing Director, Nigeria Accenture

Radio Programme Date: July 11, 2011

Topic: Market Research& Strategy

  • Learn the importance and components of market research
  • Know the importance of segmenting customers
  • Know the differences between primary and secondary sources, as well as how to collect and analyze both types of data
  • Understand the importance of consumer’s perceived value, competitor’s behaviour and costs in setting prices
  • Understand the importance of selecting the right channels of distribution in order to target key demographics

Facilitator: Mr. Tunde Owolabi, FirstBank

Radio Programme Date: July 18, 2011

Topic: Foundation of Marketing I: Pricing, Selling and Distributions

  • Understand the importance of consumer’s perceived value, competitor’s behaviour and costs in setting prices
  • Understand the importance of selecting the right channels of distribution in order to target key demographics
  • Learn the importance of effective communication to enhance selling techniques
  • Planning your finances

Facilitator: Mrs. Folusho Laniyan MD, UTC

Radio Programme Date: July 25, 2011

Topic: Building a Team: Hiring and Keeping Staff

  • Understand the need to have well qualified staff
  • Understand the importance of building a team
  • Know how to motivate your staff

Facilitator: Mrs. Nike De Souza, Managing Director People Temp Limited

Radio Programme Date: August 1, 2011

Topic: Branding Strategies

  • Be able to identify your brand objectives
  • Know how to position your company strategically

Facilitator: Mr. Oge Udeagha, First Bank of Nigeria

Radio Programme Date: August 8, 2011

Topic: Success Principles & Self Motivation

  • Now that you have started that business your ability to determine essential keys to achieving success
  • Know the principles that guide successful people
  • Be able to know what holds you back
  • Know what to do to achieve your goal

Facilitator: Mr. Fela Durotoye. MD, Visible Impact

Please be the judge, is the roll call of successful individuals that will feature on the FATE Foundation and First Bank Business Path Radio Programme not impressive?

Do me one favour, please tell everyone you know about the FATE Foundation and First Bank Business Path Radio Programme.

FATE Foundation

Attend the FATE Foundation Emerging Entrepreneurs Programme

FATE Foundation is one body I am proud to be associated with and anytime an opportunity presents itself, I profit from it to urge would-be or emerging entrepreneurs to attend any 0f their programmes. I attended the Aspiring Entrepreneurs program which is specifically designed for would be entrepreneurs but I plan to also attend the Emerging Entrepreneurs Programme.

Introducing the FATE Foundation Emerging Entrepreneurs Programme (EEP)

Have you been in business for more than 5 years? Is an area of your business suffering and your profits declining? Or, are you stagnant and need to get to the next level?

FATE Foundation
FATE Foundation

The FATE Foundation Emerging Entrepreneurs Programme (EEP) helps entrepreneurs identify gaps, increase profit and expand their businesses. The EEP facilitators are leading Business Entrepreneurs in Nigerian and the sub-Saharan African region.

Interactive sessions to cover Business Strategy, Risk Analysis and Management, Business Networking, Ethics, Marketing, Innovation, Operations, People Management, Negotiation, Accessing International Markets etc. Topics will be accompanied with case studies.

Benefits include a visit to a quoted company on the Nigeria Stock Exchange and a Business Forum, chaired by leading Nigerian business leaders.

This nine (9) weeks programme will take off 12th March, 2011.

For more information call Faith on 01- 4706836, 08057262182, and 07098123371 or E-mail: faithafolabi@fatefoundation.com

About FATE Foundation

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.

In year 2005, FATE Foundation successfully surpassed its year 2005 vision of fostering the establishment and growth of 1000 businesses.

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.

The list of businesses that have benefited from Fate Foundation is on the rise and I urge you to make your business one of them.


Hurray, FATE Foundation is 10!

Hurray, FATE Foundation is 10!

FATE Foundation an institution that has so radically changed my  life celebrated her 10th year anniversary today, which doubled as the FATE Annual Celebration and Entrepreneurial Awards. For FATE Foundation, it’s been 10 Years of Creating Wealth for the Nigerian economy. The event took place earlier today (2nd of December, 2010) at Shell Hall, Muson Centre, Onikan, Lagos, Nigeria.

fatefoundationThe event helped me find the strength I needed to be a more successful entrepreneur, the shell hall was full to the brim, people from all works of life graced the occasion and everything put together made the event an unforgettable one.

The moment I waited passionately for came and that was the Awards – who would be FATE Entrepreneur of the decade? When I saw Alhaji Aliko Dangote, the President of Dangote Group step into the hall I guessed the award was going to him because quite honestly this guy deserves some praise – he’s done a good job by being the 1st Nigerian to build a brand that is going International big time. This is not to in anyway suggest that I am a fan of the guy but then Kudos to him for he is doing Nigeria proud.

What I liked particularly was his success story, how he started out in business, how he moved from one trade to the other and at a point had to bow out of the banking industry.


I like to share 3 lessons from the Dangote story I heard directly from him today at the Fate Foundation annual celebration and entrepreneurial award;

Lesson 1:

Discover your passion and stick to it.

When Dangote Group discovered it had a passion for the cement business, she stuck to it even in the face of insurmountable challenges.

Lesson 2:

Know your Business

Alhaji Dangote admitted that in the late 1990’s, he had to bow out of the Banking industry because he had to rely on others to get any information he wants. In his words; you must know your business well.

Lesson 3

Remain Humble

I saw in Alhaji Dangote, a truly humble guy. Despite his status and wealth, humility is a value attributed to him by all. Infact, when the event was over, he walked down the hallway without any security deyails and I could see some members of the public following him and others asking him questions freely.

The time to say goodbye came and Bisade Ologunde AKA Lagbaja thrilled the whole crowd with his unique genre of music, I observed him for a while at close range without dancing and I must confess the guy is multi-talented. I watched with excitement as people danced and danced and even the ever busy workforce of FATE Foundation weren’t left out, they boogied it out led by Mrs. Alile Oruene Executive Director, Fate Foundation.

Kudos to everyone that has made the FATE Foundation dream a reality, starting with the founder, Mr. Fola Adeola, other board members, members of Staff, volunteers and finally the entrepreneurs who have chosen to leverage on the FATE Foundation brand.

That said, it’s been 10 solid years of creating wealth, so hurray Fate Foundation is 10! Many more happy returns dear FATE!!!

Fate Foundation

About FATE Foundation

FATE Foundation is a private sector led not-for-profit organization created in March 2000 by Mr. Fola Adeola in response to the change of unemployment induced poverty prevalent in the Nigeria society.

The driving  principle behind the organization is the effectiveness of wealth creation in tracking poverty FATE’S philosophy therefore, is that by equipping enterprising Nigerians with skills, tools, networks, these individuals can create successful businesses that will in turn offer gainful employment to the teaming masses of the unemployed in Nigeria .

Fate Foundation

Our Mission

To foster wealth creation by promoting business and entrepreneurial development among Nigerians.

Our Vision

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.

Our services

FATE Foundation accomplishes its vision through four core programmes:

FATE Aspiring Entrepreneurs Programme: An intensive hands-on business and entrepreneurial empowerment programme for aspiring and budding entrepreneurs. The programme is facilitated by accomplished entrepreneurs and leading professionals using a practical curriculum that covers a wide range of business topics carefully designed to assist participant develop their business idea, set up and operate fast growing business. The programme which comprises of: classroom section, monitoring Sections, Basic IT Training.

FATE Emerging Entrepreneurs Programme: A 9-week programme specially tailored for ambitious entrepreneurs who want their business to be in the lead and dictate the pace for others. Ancillary services include corporate excursions that deal with real-life business issues and a class business forum.

FATE Business and Alumni Supports Services: A range of post graduation services available to FATE alumni to enable them attain entrepreneurial stability and maturity. These services equip FATE alumni with skills, tools, and networks.

Short Entrepreneurial Courses: These are capacity building half-day business workshops on specific subjects and industry sector held bi-monthly for the general public. These services are also provided as customized training programmes for corporate organization and groups on demand.

Our Achievements

Graduated 1,818 entrepreneurs from the FATE Aspiring Entrepreneurs Programme and the FATE Emerging Progamme, trained 14,577 persons at the half-day workshops and special workshops at the end of 2008 and have reached out to over 40,000 youths on the subject of Entrepreneurship.

Mobilized over 700 private sector professionals who volunteer for FATE in various capacities as facilitators, mentors and consultants. Together with these volunteers, the Fate Foundation is able to execute its training programme excellently.

Successfully established a branch in Port-Harcourt in year 2001 to provide the youths of the Niger Delta with the dignifying and sustainable alternative of entrepreneurs as a means of live hood.

Instituted the FATE Foundation Model Entrepreneur Award in year 2001 and FATE Alumni Model Entrepreneur Award in year 2002 to honour deserving Nigerians entrepreneur who have traveled and triumphed over the rough and hostile business landscape of the country in the pursuit of their entrepreneurial dreams.

Received an award for “Most SME friendly NGO in Nigeria” from National Association of small and medium Enterprises (NASME) in 2007.

Recipients of FME Award are:


  1. Mr. Frank Nneji, Managing Director and Chief Executive Officer, Rapido Group (FME 2001).
  2. Mr. Abiola Ogunrinde, Managing Director and Chief Executive Officer, Cosmos Chemicals (FME 2002).
  3. Mr. Kayode Odukoya, Managing Director and Chief Executive Officer, Bell View Airlines (FME 2003).
  4. Mr. and Mrs. Folu Ayeni, owners of Tantalizers Fast Food Company (FME 2004)
  5. Mrs. Nike Ogunlesi, Managing Director, Ruff n Tumble (FME 2005).
  6. Mrs. Ibunkun Awosika Managing Director, Sokoa Chair Center (FME 2006).
  7. Mr. John Momoh, Managing Director and Chief Executive Officer, Channels Television (FME 2007).
  8. Mr. Godwin Ehigiamusoe, Executive Director, Lift Above Poverty Organization (Current FME)


Recipients of the FAME Award are:


  1. Mr. Ayo Olalokun, Managing Director and Chief Executive Officer, Niger cafe (FAME 2001).
  2. Mrs. Abiola Osime, Managing Director and Chief Executive Officer, World of fun as well as several other business (FAME 2003).
  3. Mrs. Toyin Olaleye, Managing Director and Chief Executive Officer, Teeto Foods (FAME 2004).
  4. Mrs. Gbonju Awojuyigbe, Managing Director, Wandy Foods (FAME 2005).
  5. Mr. Dipo Davies, Managing Director, Real House Comunications (FAME 2006).
  6. Mr. Mathew Bankong, Chief Executive Officer, S.E.I.C Construction Limited (FAME 2007).
  7. Mrs. Yinka Osobu, Chief Executive Officer, CMC Interior (Current FAME).

To date, FATE Foundation has continue to run successfully, a bi-annual business forum, an annual business plan competition, and summer internship programmes for students of foreign business schools.

FATE Foundation

1st Floor, Lagos State Water Corporation (Water House)

Ijora Causeway, Ijora Olopa, Lagos, Nigeria .

01-4706836, 4706840



FATE Foundation……… producing world-class entrepreneurs!