The Benue Investment and Property Company Limited (BIPC) has proposed a business model that will see it leverage part of a $500 million grant it is seeking from the United Nations High Commissioner for Refugees (UNHCR) to empower Internally Displaced Persons and Refugees in Benue State with entrepreneurship skills and business grants.
The grant if granted will also be leveraged by BIPC to expand its business across its Micro, Small, and Medium Enterprises portfolios to create new jobs and wealth.
The BIPC model is chiefly aimed at integrating displaced persons into society, ensuring their self-reliance, by allocating at least 15% of micro-employment opportunities to refugees, IDPs, and returnees in the state.
This model will ensure that these distressed persons are no longer burdens to the society but would become change agents and economic catalysts.
The BIPC’s Managing Director/CEO Dr. Raymond Asemakaha-CFA showcased the model to UNHCR at BIPC Headquarters in Makurdi, which contains various empowerment schemes that are designed for refugees, returnees, and IDPs in the state.
“The $500 million business model presented by BIPC is aimed at providing sustainable solutions to the challenges faced by refugees and IDPs in the state, and the company is confident that its partnership with UNHCR will help achieve this goal,” he said.
The model involved registration and assessment, vocational training, micro-employment opportunities, mentorship, and coaching.
O
thers include access to resources, networking opportunities, psychosocial support, legal assistance, gradual Transition, and entrepreneurship Support. It will also open cooperatives and collectives and skills development.
“We believe that our business model, combined with UNHCR’s resources, can make a significant impact and provide sustainable solutions to the challenges faced by the displaced persons,” said the Managing Director.
BIPC has proposed to give 15% each on every business expansion from the grant to youths from 18 to 45 years from the facility.
The other members of the international Displaced Persons, refugees, and IDP returnees who are unable to benefit from the 15 percent will be taught how to farm, while the BIPC offtakes.
Arjun Jain, Country Representative of UNHCR, commended BIPC for its commitment to supporting refugees, returnees, and IDPs and encouraged the company to prioritize businesses that can make a significant impact on the lives of the displaced persons.
The Managing Director has promised to submit proof of concept (POC) by next week.
