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FirstBank has announced its support for the Imo state government’s One Kindred One Business Initiative (ÓKÓBÌ), a group-based entrepreneurship programme designed to promote business ownership, financial inclusion and job creation across the state.
The initiative, conceived by Imo State Governor Hope Uzodimma, is built on the principles of communal ownership and collective responsibility, encouraging groups of individuals to establish and manage registered businesses together.
Launched in 2023, ÓKÓBÌ has registered more than 600 businesses with over 20,000 members and is targeting the creation or support of 100,000 jobs within three years.
Speaking on the partnership, FirstBank Group Chief Executive Officer, Olusegun Alebiosu, said the initiative demonstrates how social capital can be leveraged to drive sustainable enterprise growth and economic empowerment.
“Peer accountability remains a powerful driver of sustainable enterprise growth. The ÓKÓBÌ initiative exemplifies this by transforming existing social capital into tangible economic value for communities,” Alebiosu said.
He noted that the bank’s support would help deepen financial inclusion and strengthen collectively owned businesses by expanding access to finance and creating a more inclusive wealth-creation ecosystem.
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“By supporting these collectively owned businesses, we are helping to stimulate economic empowerment at scale—creating a self-sustaining ecosystem where wealth creation is inclusive, participatory, and widely shared,” he added.
Also commenting, Kenneth Amaeshi, Chief Economic Adviser to the Imo State Government, commended FirstBank for backing the programme, describing ÓKÓBÌ as a viable model for tackling unemployment and informality.
Amaeshi said the initiative’s achievements within a short period demonstrate its potential to generate sustainable jobs and empower individuals to become business owners through resilient, group-based enterprises.
He urged other corporate organisations to support the model, noting that wider adoption could accelerate economic development and wealth creation across Nigeria.
The Federal Government has recognised ÓKÓBÌ as one of eight National Human Capital Development Accelerator Projects, attracting growing interest from development partners and private investors seeking credible platforms for impact investment. FirstBank said its support aligns with its sustainability agenda focused on diversity, financial inclusion and sustainable finance. The bank added that funding group-owned enterprises helps reduce credit risk through peer accountability while expanding access to finance for underserved groups, particularly women and young people.
