Okatahi  Foundation: Cooperative Proposal Results: July 2016

 

S/NO Group Name Origin Business Area Strengths Weaknesses Approved
1 Oboro Garri Processing Group Magongo Agric Good details in proposal Capital required too high, Insufficient explanation on experience NO
2 Trustee Marketing Company Okengwe Transport Insufficient information in the proposal NO
3 Oyisi Faithful Group Of Farmers Magongo Agric Good details in proposal , Good choice of business Capital required too high, Insufficient explanation on experience NO
4 Trustee Groups of Company

 

 Okengwe Construction Good details disclosed Capital required too high, Submitted two proposal rather than one NO
5 Ometere Famers Okengwe Agric Good details in proposal, Reasonable Budget, Choice of business was good Selling price of goods not disclosed YES
6 Avuvorbe Marketing Okene Trading Good details in proposal Low profit based on investment, Capital required too high NO
7 Oyisi.G Of 5 Raw Food Vendors Okene/Okengwe Trading Good details in proposal,   Good vision Insufficient explanation on experience, Selling price not disclosed NO
8 Health Care Medicine Okengwe Health Good details in proposal, Good experience Capital required too high, Place where product is sourced not disclosed NO
9 Onini Poultry Farms

 

 Magongo Agric Good details in proposal,  Professional proposal, Good vision Capital required too high NO
10 Avo Group Investment

 

 Okengwe Trading- Palm  Oil Good budget, Good details in proposal Source of goods not disclosed NO
11 Divine Cooperative Ogori/Magongo Agric Good choice of business, Reasonable budget Poor presentation of proposal YES
12 Agro – Chemical Magongo Trading- Chemicals Good choice of business, Good business analysis and experience Capital required too high, Incomplete profit analysis NO
13 Onini Progressive Fashion Designers Magongo Trading/ Fashion Design Good business ideas, Good details in proposal No budget stated NO
14 Tibile Group Of Marketers Magongo Trading Good choice of business Capital required too high, Insufficient explanation on experience NO
15 Evabe Okengwe Trading- Palm  Oil Good details in proposal Capital required too high NO
16 Divine Mercy Cooperative Magongo Agric- Fish Farming Very professional presentation, good budget, Already established cooperative, Already have down payment YES

 

Guidelines used in selection

  1. Form a cooperative of minimum 5 persons, with people who have common values and interest.
  2. Write a proposal of your business idea and plan. Include Product/service, Experience, Business Location, Amount Required, Marketing, Team Work, Projected profit calculation, Group Name, Members Names, Town .
  3. The best and most realistic proposals will be selected and assisted.

 

Funds Disbursement

  1. For successful group submit a copy of your cooperative registration documents to admin@okatahifoundation.org
  2. Submit details of your bank account to admin@okatahifoundation.org
  3. Fund will be made available 24 hours after verification of membership and receipt of the documents

 

Training

Investment Training for everyone available at both Okengwe and Magongo on Wednesday 20th July 2016.

Okengwe, Venue: Library. Time: 10am

Magongo, Venue:  To be determined. Time: 2pm

General Notes

  1. The purpose of this scheme is to assist serious minded persons in creating/building small businesses to empower themselves rather than waiting for government. It is to encourage them to take their destinies into their hands.
  2. The funds is not a grant a but an interest free loan, which is expected to be paid back within 3 years.
  3. The source of fund is from individual earning and not public/government
  4. A monitoring team will follow up progress. Any group that is provided funds and does not utilize it properly will be blacklisted in the scheme.
  5. For those groups who did not get approval, other empowerment opportunities exist in future.
  6. Success of those proposals approved will motivate the scheme to do more.