By Our Reporter
Updated – Sahara Foundation has adopted the extrapreneurship strategy to drive integrated economic empowerment programmes through strategic partnerships and support for innovative as well as scalable business ventures.
Sahara Foundation is the Corporate Responsibility vehicle of Sahara Group, Africa’s leading energy and infrastructure conglomerate with operations in eight countries across four continents.
Over the next four years, Sahara Foundation plans to directly impact 12 million beneficiaries and also create value through the identification, development and maintenance of relevant stakeholders through which beneficiaries can grow and sustain businesses.
This will be achieved through skills acquisition training, mentoring and access to a network of committed stakeholders.
The Executive Director and Co-Founder, Sahara Group, Tonye Cole, explained that the core of the extrapreneurship framework is “to produce a platform that finds, creates and connects young extrapreneurs in emerging markets”, adding that this would be achieved by leveraging on Sahara Foundation’s key strength of bringing together various committed stakeholders and promoting cross- sectoral collaboration.
‘Extrapreneurship’ involves creating value through leveraging internal and external strengths to drive cross-sectoral collaboration.
This is made possible by connecting the right people and organizations towards providing sustainable solutions to global social problems.
Unlike entrepreneurship, which focuses mainly in income generation, extraprenuership is centered on wealth creation and preservation.
Cole said the shift in Sahara Foundation’s focus is modelled after Sahara Group’s strategy.
He added: “Sahara has evolved from a fledgling entrepreneurial business which began 20 years ago into a world class conglomerate with operations across the energy value chain including upstream, midstream, downstream operations. We have leveraged our network of committed stakeholders to expand the business, embrace opportunities and grow the franchise sustainably over the past two decades.”
Sahara Foundation aims to drive the extrapreneurship programme through the establishment of community/academic hubs and the social media.
These platforms will provide resource materials and inspire networking and collaboration on a mass scale for local, regional, national and global beneficiaries.
Cole stated: “You cannot even imagine the multiplier effect we are hoping to generate with the new model as young business owners are exposed to boundless opportunities that exist within the various hubs and our dedicated web portal where leading business individuals and organisations will be available to guide and link budding extrapreneurs. We are mostly excited about the fact that this is a sustainable approach to empowering youths and engendering economic growth and development.”
Sahara will in the coming weeks unveil various projects that will kick start its extrapreneruship strategy in its locations across the globe.