By
Joseph Odoekwu
OWERRI, Imo State — The Imo State Government’s innovative grassroots economic program, the One Kindred One Business Initiative (OKOBI), is set to be officially inaugurated at the second edition of the Federal University of Technology Owerri (FUTO) Alumni Homecoming 2025. The inauguration will be a highlight of the three-day event, which runs from August 14-16 in Owerri.
Professor Kenneth Amaeshi, the Chief Economic Adviser to the Imo State Government, will inaugurate the initiative during a student mentorship program scheduled for Thursday, August 14. OKOBI, a program first launched in early 2023, aims to tackle unemployment and poverty by fostering sustainable entrepreneurship through a community-based approach.
Inspired by the Africapitalism philosophy, which champions African-led enterprise and balances profit with social impact, OKOBI is built on the core Igbo cultural concept of “Umunna” (kindred). It promotes collective ownership and shared responsibility, encouraging extended family units or community groups to collaborate on business ventures. The initiative is designed to stimulate job creation, reduce poverty, and foster a culture of shared economic growth.
The program’s structure is flexible, allowing businesses to operate as cooperatives or to be formally registered with the Corporate Affairs Commission (CAC) or the Ministry of Commerce and Industry in Imo State. To support these emerging businesses, the state government is offering a package of incentives, including tax exemptions, and will provide access to mentorship and support directly from the Chief Economic Adviser’s office.
A key focus of OKOBI is the promotion of agribusiness. The initiative will encourage business models in areas such as agro-production, agro-processing, agro-services, as well as livestock and crop farming. The goal is to inspire young people to view agriculture as a viable and critical means of addressing poverty across the country.
The FUTO Alumni Homecoming will also feature the inauguration of a new Youth Engagement Student Club at the university. This club is designed to prepare students to create their own businesses upon graduation, aligning with the OKOBI initiative’s broader mission of nurturing a new generation of entrepreneurs.
