A United States-based firm, Calpe Labs, has unveiled a N600 billion enterprise development scheme aimed at enhancing entrepreneurship and access to capital for 50 grassroots micro-businesses in Imo State.
Details of the Initiative
The Managing Director of the venture studio, Mr Mambu Sherman, disclosed this to newsmen in Owerri, the Imo State capital, on Thursday. According to him, the beneficiaries were selected under the Imo State Government's One Kindred One Business Initiative (OKOBI), a programme designed to leverage family and community-owned businesses to tackle unemployment and stimulate local economic growth.
Sherman explained that the selected businesses operate in agribusiness and agro-processing, micro-manufacturing, artisanal and skilled services, as well as trade and commerce.
Background and Economic Impact
The initiative emerged from discussions and commitments made at the Imo Economic Summit held in December 2025, which was designed to promote inclusive economic development in the state. Sherman said the initiative ultimately aims to empower over 1,000 businesses across the state. Partners project a massive N600 billion total economic impact and 20,000 new jobs. Furthermore, the programme is expected to generate approximately N250 billion in business revenue, directly transforming the economic landscape of rural communities within the state.
Partnership and Global Trends
The Calpe Labs boss further explained that the scheme was initiated by Africa Business Affairs (AfriBA), a business development organization, in partnership with Calpe Labs, InnoPower Africa and EvaTech Global. Sherman noted that the partnership reflected a growing global trend in which entrepreneurs increasingly require integrated support networks and alternative financing options rather than isolated intervention programmes.
He said the partnership is expected to introduce global technology solutions, innovative financing models and business support systems to strengthen grassroots enterprises. For instance, EvaTech Global would deploy advanced digital underwriting and business analytics tools to improve entrepreneurs' readiness for investment and facilitate access to financing opportunities. Also, InnoPower Africa, a workforce and economic development organization focused on entrepreneurship, innovation and talent development, would help connect individuals, institutions and opportunities to drive inclusive growth. This technology will help local entrepreneurs in the state to strengthen capital readiness and seamlessly improve access to vital financing opportunities.
Sherman expressed confidence that the targets were achievable through the systematic removal of barriers limiting the growth of small businesses, adding that the programme was expected to significantly transform rural economies across the state through coordinated access to growth capital and technology-enabled business infrastructure.
