Social Governance

AGF Rolls Out Capacity Building for SMEs

Published on: 7 June 2022 07:00 AM
by KnowESG
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With the support of the African Development Bank's Youth Entrepreneurship and Innovation Multi-Donor Trust Fund, the African Guarantee Fund for Small and Medium-sized Enterprises (AGF) has launched a capacity-building programme in Nigeria to empower 80 youth-led start-ups and micro, small, and medium-scale enterprises (SMEs).

Constant Nzi, AGF's Deputy Group Chief Executive Officer, stated that youngsters, who make up more than half of Nigeria's population, have a significant role to play in the country's growth.

Nzi said, "The objective of AGF's partnership with FRAGG is to build the capacity of youth entrepreneurs so that they are equipped to access financing for their sustainable growth."

The program's coordinating partner in Nigeria, FRAGG Investment Management Limited, will link participants with business coaches and mentors and expose each company to the technical skills needed to present bankable business ideas and get better financing opportunities.

In addition, the consultancy firm aimed to connect young entrepreneurs with local financial institutions and private equity investors.

FRAGG Managing Director Franklin Odoemenam said: “Our team is committed to supporting the Youth Entrepreneurship and Innovation initiative. This programme is in tandem with the values of FRAGG, which is entrenched in the triple bottom approach of people, profit and the planet.

“We are pledging our organisations' support in equipping Nigerian youth entrepreneurs with training that will position their businesses to be investor-ready and to access financing.”

He also mentioned that the Youth Entrepreneurship and Innovation Multi-Donor Trust Fund was launching youth-led training and mentorship programmes in Ghana, Mali, Togo, and Zimbabwe.

Source: The Guardian

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