The AKEM Foundation marked its fourth anniversary by awarding more than ₦6 million in business grants to five young entrepreneurs during an empowerment programme held in Lagos.
The event drew participants from the security sector, academia, business, diplomacy, faith-based organisations, and civil society, all of whom gathered to celebrate the foundation’s contributions to education, entrepreneurship, and community development.
The foundation was established by Dr. Ayodele Ogunsanalongside his siblings, Abiodun, Aduke, and Folorunsho, in honour of their late parents, Akinola and Madam Emiola Ogunsan, whose values of education, discipline, enterprise, and compassion continue to shape the organisation’s mission.
Having initially supported four groups in 2023, the foundation has expanded its interventions by 2025 to include education, entrepreneurship, and small business empowerment.
The organisation described itself as a structured humanitarian platform focused on education, welfare, enterprise development, youth mentorship, and community transformation.
Dr. Ogunsan, Chairman of the foundation, said the initiative reflects the values upheld by their parents.
“My father cared deeply about education, while my mother was passionate about entrepreneurship. We pooled our resources to support people who lack opportunities to advance academically or sustain their businesses,” he said.
Ogunsan explained that beneficiaries emerged through a transparent and competitive selection process.
“We received 71 entries, narrowed them down to 46, then 21, and finally selected five winners,” he stated.
According to him, the overall winner received ₦1.5 million, while the second, third, fourth, and fifth-place winners received ₦1.25 million, ₦1 million, ₦750,000, and ₦500,000 respectively.
Mr. Abiodun Ogunsan, Managing Director and Chief Executive Officer of the foundation, reaffirmed its commitment to education, entrepreneurship, and sustainable empowerment.
He said the initiative aims to equip young people with the tools needed to overcome challenges and contribute meaningfully to their communities.
The five finalists presented their business ideas before a panel of judges and guests at the event.
Adetolani Amokaye emerged as the overall winner, while Adeola Deborah Agboola came second, Nkechi Gift placed third, Ekom Gideon Fidelis finished fourth, and Ajala Tiyinoluwa Busola secured fifth place.
Retired AIG Lanre Bankole, Patron of the foundation, commended the initiative, describing it as a fitting tribute to the founders’ parents and a meaningful intervention for vulnerable members of society.
