A United States-based business development company has launched a N600 billion programme aimed at supporting small businesses in Imo State and creating thousands of jobs.
The initiative, introduced by Calpe Labs, will begin with 50 grassroots businesses selected under the Imo State Government’s One Kindred One Business Initiative (OKOBI), a programme designed to encourage family and community-owned enterprises as a way of tackling unemployment and promoting economic growth.
Speaking in Owerri, the Managing Director of Calpe Labs, Mambu Sherman, said the scheme is expected to improve access to funding, technology and business support for entrepreneurs operating in different sectors of the economy.
The selected businesses are involved in areas such as agriculture, food processing, manufacturing, skilled services, trade and commerce. According to Sherman, the project grew out of discussions held during the Imo Economic Summit in December 2025, where stakeholders explored ways to drive economic development and create opportunities for local entrepreneurs.
The programme is being implemented through a partnership involving Africa Business Affairs (AfriBA), Calpe Labs, InnoPower Africa and EvaTech Global. The organisations say they will provide business owners with tools and support needed to strengthen their operations and attract investment.
A key part of the initiative involves the use of digital technology to help entrepreneurs become more prepared for funding opportunities. Business owners will receive support through data-driven business analysis and financial assessment tools designed to make it easier for them to access capital.
Sherman said many small businesses struggle not because they lack ideas or ambition, but because they often face weak support systems and limited access to finance. He noted that the programme aims to bridge those gaps by providing a more coordinated approach to business growth.
Organisers estimate that the project could eventually support more than 1,000 businesses across Imo State. They also project that it could create about 20,000 jobs and generate roughly N250 billion in business revenue. The broader economic impact is expected to reach N600 billion if the programme achieves its targets.
Calpe Labs said lessons learned from the first group of beneficiaries will be used to improve the model before expanding it to other parts of Africa. The company expressed confidence that the initiative could help transform rural communities by giving entrepreneurs better access to funding, skills and business opportunities.
