Government of Canada partners Canadian Imperial Advantage to advance Black businesses in Alberta

This week, the Honourable Daniel Vandal, Minister of Northern Affairs, Minister responsible for Prairies Economic Development Canada, and Minister responsible for the Canadian Northern Economic Development Agency, met with two Black-led organizations to hear from them about their vision to support entrepreneurship and meet the needs of Black business owners across Western Canada and announced a federal investment of $5.4 million to help them turn that vision into a reality. 

Canadian Imperial Advantage is an organisation led by Nigerian-born executives with a strong focus on  promoting entrepreneurship and business growth in Canada. CIA, as they are fondly called is  receiving $2.8 million to establish and deliver the Black Business Advancement Program.

This program will  support entrepreneurship and meet the needs of Black entrepreneurs and business owners in central and  northern Alberta. The Black Business Advancement Project will also provide expertise and knowledge to  Black business owners including Newcomers, to help them find and create business opportunities, access  financing, and strengthen their businesses. 

The Project Director, Bola Badmus told the Minister at the announcement that “Through the National  Ecosystem Fund, Canadian Imperial Advantage will build a truly-supportive business ecosystem that helps  black businesses transition smoothly from the impact of COVID-19 pandemic and incubate new businesses  through the value chain, from ideation to inclined profitability”. 

A healthy economy is one where everyone has equal opportunity to participate and thrive, and where no one is left behind. The Government of Canada is continuing to strengthen the National entrepreneurship  ecosystem for Canada's Black entrepreneurs and business owners. 

Popoola Akande, the President, Canadian Imperial Advantage gave in his remarks “access to capital is a  key factor for most businesses especially SMEs, so we have made it our core-offering to support the  business network with credit advisory services. There are opportunities out there, change the way you  think about business, think big and let’s do it”! 

Popoola further said “We thank the Government of Canada and the Honorable Minister Daniel Vandal, for giving us the opportunity to help more Black business owners”.  

Over the years, CIA thrives on strategic partnerships and collaborations to develop an inclusive business advancement framework that helps Black entrepreneurs gain access to capital as well as increase 

productivity and/or efficiency through professional training, high-impact mentoring, capacity building and socio-economic empowerment. 

Ayo Oladimeji, an Executive Director of the Canadian Imperial Advantage spoke to our team at the project launch “the BBAP project will increase the visibility, participation, and contribution of black entrepreneurs and business owners in the wider economic opportunities, which aligns with CIA’s plan to be the most progressive resource hub for black entrepreneurs and newcomers in Alberta and Western Canada”.

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