Firm launches initiative to tackle unemployment in Cross River – Converseer

CALABAR (CONVERSEER) – An investment firm, Stridevest Company Limited, has unveiled a new initiative aimed at supporting Micro, Small and Medium Enterprises (MSMEs) through strategic development, funding, and business growth.

The programme seeks to combat unemployment in Cross River State and across Nigeria by empowering business owners through equity partnerships.

Speaking during an interactive session with journalists on Saturday in Calabar, the Chief Executive Officer (CEO) of Stridevest, Wilson Obidi, said the programme will not offer grants or loans but will instead invest directly in promising businesses by acquiring equity stakes.

“We invest in businesses we believe in, provided the owners demonstrate a clear vision and understanding of their goals,” Obidi stated.

He emphasised that the programme is open to businesses across various sectors, with applications accessible through the company’s official website.

The initiative offers more than just funding. Beneficiaries will gain access to expert collaboration, professional mentorship, and strategic support tailored to ensure long-term sustainability and expansion of their ventures.

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On his part, Head of Legal at Stridevest, Barr. Christal Ogar Tawo, noted that the firm will work hand-in-hand with entrepreneurs, offering assistance in areas such as business registration, educational resources, mentorship, and growth monitoring.

According to Tawo, the extent of Stridevest’s equity stake in any business will depend on the level of its involvement and the terms agreed upon with the business owner.

“This model enables us to genuinely partner with entrepreneurs, supporting them beyond capital injection by helping build structures that guarantee success,” he said.

The company further disclosed its readiness to collaborate with government agencies, private institutions, non-governmental organisations (NGOs), and individuals to scale up empowerment initiatives within Cross River and beyond.

Stridevest’s equity-based approach to business development marks a shift from traditional funding models, aiming to foster a more sustainable entrepreneurial ecosystem across Nigeria.