Loveworld Kingdom, a faith-based movement founded by Pastor Chris Oyakhilome, has announced that it secured $1 million for an investment initiative targeting small and medium-sized enterprises (SMEs) across Africa.
The organisation disclosed the funding following the unveiling of the investment initiative at the Loveworld Trade and Investment Forum held in Accra, Ghana, in October.
According to the announcement, the initiative is expected to support entrepreneurs seeking to increase production, expand business operations and access new markets.
The investment programme comes amid growing concerns about the difficulty African businesses face in obtaining financing, particularly smaller enterprises that lack adequate collateral or financial records to secure commercial bank loans.
Loveworld Kingdom said its ministry of commerce would connect entrepreneurs with potential investors, professionals, suppliers and other resources within its business network.
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1. Loveworld Kingdom Announces $1 Million Investment Initiative
Loveworld Kingdom has announced a $1 million investment initiative aimed at supporting African businesses, particularly small and medium-sized enterprises.
The organisation said the funding was secured for an investment programme designed to strengthen businesses within its network and improve their ability to grow.
The initiative was unveiled at the Loveworld Trade and Investment Forum in Accra, Ghana, in October.
However, the organisation has not disclosed the identities of the investors behind the funding, the investment structure or the financial terms under which participating businesses will receive support.
2. African SMEs Could Benefit From Improved Access to Capital
The investment initiative is expected to address some of the financial challenges confronting African entrepreneurs.
Many small businesses struggle to obtain bank loans because of collateral requirements, limited financial documentation and insufficient credit histories.
According to figures cited in the organisation’s statement, fewer than five per cent of Nigeria’s micro, small and medium-sized enterprises have access to bank credit.
The funding initiative is intended to create additional opportunities for entrepreneurs seeking capital to expand their operations.
3. Stephanie Oforka Calls for Investment in African Businesses
Stephanie Oforka, executive minister of commerce and convener of the forum, said organisations and individuals needed to invest in the businesses they wanted to see succeed.
She argued that entrepreneurs could not achieve meaningful growth if available capital continued to flow away from productive enterprises.
Oforka said:
“We cannot continually speak about the businesses we want to see while directing our capital elsewhere.”
Her remarks highlighted the importance of directing investment towards businesses capable of creating jobs, increasing production and contributing to economic development.
4. Africa Faces a $100 Billion Trade Finance Gap
The organisation also cited an African Export-Import Bank estimate indicating that Africa’s annual trade finance deficit stands at approximately $100 billion.
Smaller businesses are particularly affected by the financing shortage, which limits their ability to purchase goods, fulfil orders and participate in international trade.
The funding initiative is therefore being positioned as part of a broader effort to improve access to investment and strengthen African businesses.
However, the announced $1 million represents only a small portion of the continent’s wider financing needs.
5. Businesses Must Demonstrate Credibility and Product Quality
Chidi Ezimako, executive minister of hinterlands ministries at Loveworld Kingdom, said businesses seeking investment support would need to demonstrate credibility, quality and the ability to meet their obligations.
According to the organisation, entrepreneurs would be assessed on their business capacity rather than simply their religious affiliation or membership.
This approach suggests that participating businesses are expected to demonstrate commercial viability and readiness for expansion.
The organisation has not yet published a detailed application process or selection criteria for businesses seeking funding.
6. Cellulant Co-Founder Bolaji Akinboro Emphasises Production Capacity
Bolaji Akinboro, special adviser on the economy to Loveworld Kingdom and co-founder of Cellulant, stressed the importance of strengthening productive capacity across Africa.
He argued that businesses needed to improve their ability to produce goods and services at competitive standards if they wanted to expand into regional and international markets.
Access to finance alone, he suggested, would not be sufficient without improvements in production, quality and business operations.
The initiative is expected to connect entrepreneurs with investment opportunities and professional expertise that could help them become more competitive.
7. Loveworld Kingdom Plans to Connect Businesses to New Markets
Oforka said the organisation’s next priority was to help participating businesses move beyond local markets and achieve wider commercial relevance.
She explained that the initiative would focus on improving standards, increasing production capacity and connecting entrepreneurs to capital and new customers.
“Our next responsibility is to scale. How do we take our businesses from local successes to global success? How do we take our businesses to regional relevance? How do we improve standards? How do we increase our production capacity? How do we provide access to capital? How do we connect our businesses to new markets?” she said.
The organisation believes that connecting entrepreneurs with investors, suppliers, professional expertise and customers could help strengthen enterprise development across Africa.
What Is Loveworld Kingdom?
Loveworld Kingdom is a spiritual community introduced by Christ Embassy, also known as Believers’ Loveworld Inc., founded by Pastor Chris Oyakhilome.
Pastor Yemisi Kudehinbu serves as its prime minister.
The organisation’s investment initiative represents an effort to combine its business network with financial support for entrepreneurs seeking to expand their operations.
Conclusion
Loveworld Kingdom’s announcement of a $1 million investment initiative has brought renewed attention to the financing challenges facing African small and medium-sized businesses.
The programme is expected to connect entrepreneurs with potential investors, professional expertise and new commercial opportunities.
However, its impact will ultimately depend on how the funding is deployed, which businesses receive support and whether the initiative delivers measurable improvements in production, employment and market access.
For African entrepreneurs, the programme could represent another opportunity to explore alternative financing and business development support beyond traditional commercial banking.
