Calpe Labs, a US-based venture studio, has launched a N600 billion scheme aimed at boosting entrepreneurship among 50 grassroots micro-businesses in Imo State. The initiative is part of the state government's One Kindred One Business Initiative (OKOBI), which uses family and communal networks to tackle unemployment. Mambu Sherman, Managing Director of Calpe Labs, disclosed the details during a media briefing in Owerri. The selected businesses operate in agribusiness, agro-processing, micro-manufacturing, artisanal services, trade, and commerce.

The scheme originated from the Imo Economic Summit held in December 2025, which sought to promote inclusive economic growth. Africa Business Affairs (AfriBA) initiated the programme and is partnering with Calpe Labs, InnoPower Africa, and EvaTech Global for implementation. EvaTech Global will apply digital underwriting and business analytics to improve entrepreneurs' access to financing. Sherman stated the technology would strengthen capital readiness for local business owners. He noted that fragmented support systems, not lack of ambition, are the main obstacle for MSMEs.

InnoPower Africa will focus on linking people, institutions, and opportunities to drive innovation and talent development. The partners aim to expand the programme to empower over 1,000 businesses across Imo State. Projected outcomes include a N600 billion total economic impact, the creation of 20,000 jobs, and N250 billion in business revenue. These gains are expected to transform rural economies in the state. Sherman said the pilot cohort's results will guide refinements for future expansion across African markets.

💡 NaijaBuzz Take

Mambu Sherman claims fragmented support hampers Imo's MSMEs, yet the solution depends on a complex web of foreign and local partners with overlapping roles. The projected N600 billion impact relies on scaling from 50 to over 1,000 businesses without detailing how coordination challenges will be avoided. If digital tools and external organisations are key, then the model risks reinforcing dependency rather than fixing local fragmentation.

💡 NaijaBuzz Take is AI-assisted editorial opinion, not established fact. Full disclaimer →