By Chioma Okoye

Precious Azuonwu, the founder and CEO of Bankable Wisdom, has been awarded the prestigious Western Union Foundation Venture Development Stipend for his exceptional participation in the 2024 Western Union Fellowship and his ongoing efforts to empower marginalized African youth through tech education and job creation. As one of the top 12 Fellows in the program, Azuonwu ranked 4th overall and was the highest-ranking African Fellow in the global cohort, underscoring his dedication to creating meaningful change.

The $30,000 stipend was shared among the top 12 participants, with Azuonwu receiving $4,000 to scale Bankable Wisdom. This funding will help further connect underserved and internally displaced youth to job opportunities through affordable digital skills training. Bankable Wisdom, founded in 2020, has already impacted over 75,000 youth across 30 African countries by providing digital skills in areas like freelancing, digital marketing, and software development.

The funding has allowed Bankable Wisdom to make significant strides in its mission. In addition to full undergraduate scholarships for 4 marginalized Nigerian students, the team organized the Lagos Venture Grant Bootcamp. There, 55 entrepreneurs, including those from displaced and underserved communities, were trained in grant writing and given valuable resources to secure funding for their ventures. As a result, 3 entrepreneurs have won $5,000 grants from the Tony Elumelu Foundation, totaling $15,000.

Through its scholarship support programs, Bankable Wisdom has also assisted over 500 university students with personalized scholarship application guidance. To date, the platform has helped 600 students apply for 3,500 scholarships, with projections showing that this initiative could secure $70,000 (₦105 million) in scholarships for its learners.

The award came after an intense 6-month process where Azuonwu actively participated in the Western Union Fellowship. He collaborated with Western Union Foundation and the Wikimedia Foundation to organize the Tech for Social Impact Basecamp, a pivotal initiative focused on driving tech-driven solutions for social change.

With the support of the Western Union Foundation, Bankable Wisdom is now poised to expand its reach and deepen its impact. The funding will enable the organization to provide job opportunities, training, and mentorship to even more youth in marginalized communities across Africa, in line with its mission to promote youth employment and economic prosperity. Through this expansion, Bankable Wisdom will continue to transform the lives of youth, empowering them with the skills and opportunities needed to thrive in the digital economy.