First City Monument Bank (FCMB) has lauded Babban Gona, a Nigeria-based high-impact social enterprise, for winning the Schwab Award for Social Entrepreneurship.
The award ceremony was held recently at the World Economic Forum annual meeting in Davos, Switzerland, FCMB said in a statement.
The Schwab Award is a social innovation award that recognises individuals and organisations that have contributed exceptionally to society by solving complex problems and showing that change is possible.
FCMB said it is proud to be associated with Babban Gona and to be part of its journey.
While congratulating the social enterprise and affirming continued support for its programmes, the bank stated that winning the prestigious Schwab Award for Social Entrepreneurship is a testament to its impact on people’s lives around Nigeria.
Babban Gona, founded in 2012, is supported by First City Monument Bank, KfW, FMO, EDFI, IFAD, Mastercard Foundation, DFID, USAID, Bill and Melinda Gates Foundation, Rippleworks, Skoll Foundation, the Central Bank of Nigeria, and Nigeria Sovereign Investment Authority, among others.
Babban Gona co-founders, Kola Masha and Lola Masha, are social entrepreneurs out to disrupt the downward spiral of poverty and violence in parts of Northern Nigeria by creating opportunities for dignified and fulfilling work for youths.
It started its Agricultural Franchise Model with 100 farmers and has grown to 100,000 farmers in 10 years.
So far, Babban Gona has cumulatively supported over 280,000 smallholders and created over 600,000 jobs nationwide.
FCMB supports the initiative by providing credit to support the delivery of products and services to Babban Gona members which has doubled their productivity.
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