One Kindred One Business Initiative (OKOBI)
We believe a greater Imo lies in the collective initiative and the shared prosperity of businesses emanating from the smallest levels of Community Government – Kindreds.
About OKOBI
OKOBI is an economic development initiative, within the shared prosperity agenda of the Imo State Government. This model exemplifies the collaboration of two or more individuals pooling resources to establish a lucrative, sustainable, and profitable business venture. The primary objective is to empower grassroots communities, fostering employment and wealth creation through well-structured cooperative enterprises across Imo State.
Initiation of OKOBI Businesses
An OKOBI business takes shape when individuals, either family, relatives, kinsmen, or community members, unite to explore business ideas tailored to address local needs. Whether engaging in agribusiness, skilled services, or various other ventures, the emphasis is on structured group operations, amplifying productivity, visibility, profitability, and sustainability. The group-owned business model aligns with the bible verse that says, “one can chase a thousand, two can chase ten thousand,” leveraging diverse ideas for informed decision-making.
Participation Criteria
Participation in the OKOBI initiative is open to kinsmen, family members, friends, social groups, clubs, and community members sharing common affiliations. The requirement is a joint business venture owned by two or more individuals.
Diverse Business Opportunities
The OKOBI model can be used to set up different kinds of businesses, limited only by the imagination. From poultry, rabbit keeping, and palm oil production to bakery, rentals, honey production, and more, the key is to identify problems that can be addressed through a business venture.
Setting Up Stages
Know Your Team
Assemble a dedicated team for collaboration.
Needs Identification & Assessment
Determine the business or service based on economic needs.
Solution Identification
Devise effective solutions through commerce, evaluating profitability.
Planning, Budget, and Structure
Develop a business plan, budget, and structural framework for sustainable profitability.
Registration
Officially register the business as a cooperative OKOBI venture.
Bank Account
Open a business account, leveraging partnerships with recommended banks.
Identification as an OKOBI Business
To be recognized as an OKOBI business, certain criteria must be met:
Ownership
Joint ownership by two or more individuals (up to a maximum of ten).
Orientation
Profit orientation and employment generation.
Service provision
Service provision through production, supplies, sales, or skills.
Registration
Registration as a cooperative at the Cooperative Department of the Ministry of Commerce and Industry for tax exemption.
Enrolment
Enrolment under OKOBI through the Chief Economic Adviser’s Office for identification, mentorship, and progress monitoring.
Location
Business must be domicile in Imo State.
OKOBI Businesses
These are some co-operatives that have been in launch and are operating under OKOBI.
FAQs
OKOBI is a business initiative where a group of people come together to set up a business venture that is lucrative, sustainable and profitable. It is aimed at grassroots empowerment from kindreds and communities to create employment through structured business ventures run and operated in form of cooperatives in Imo State.
Kinsmen, family members, friends, associations, community members, religious groups can come together to start an OKOBI business, It must be a joint business owned and operated by a group .
Poultry, rabbit keeping, palm oil production, bakery, rentals, honey production, piggery, grass cutter
rearing, cow rearing, rice, palm kernel shells, cassava processing, fish farming, snail farming, water factory, goat farming, pineapple farming, banana, coconut, bitter kola, cocoa etc.
Registered as a cooperative, owned and run by a group
Located in Imo State
Profit oriented
Provides employment
Profit oriented
Free consultations from the Chief Economic Adviser’s Office.
No tax payment for a cooperative registered business in Imo State.
Opportunity to create your own wealth which can be passed on to your children
Opportunity to be a major producer, supplier, distributor or exporter of your produced goods or services.
Eligibility for grants and support from international or local firms.
Reach out and find people/group
you can do the business with
Decide which business to go into or which service to deliver
Write the business plan/strategy and have an estimated start-up budget(you can reach out to us for consultations on this)
Give the business a name and register it as a cooperative business venture
Open a bank account for the business
Start the preliminary set up arrangements
One Kindred One Business Initiative
through businesses emanating from the smallest clusters of kindreds and communities.
“UMUNNA WU IKE, O WUGHI AGHA!”
at 09011589113 or 091143360076.