AFDB, AGF flag-off mentorship programme for 80 Nigerian MSMEs

The African Guarantee Fund for Small and Medium-sized Enterprises (AGF) has launched a training and mentorship programme for 80 youth-led start-ups and Micro, Small and Medium Enterprises (MSME) in Nigeria.

The Group Communications and Public Relations Manager, AGF, Diana Aluga made this known in a statement.

According to the statement, the programme was with the support of the African Development Bank’s Youth Entrepreneurship and Innovation Multi-Donor Trust Fund.

It added that the AGF was implementing the year-long training and mentorship series to provide capacity-building support and coaching to 80 youth entrepreneurs across the country.

Mr Constant N’zi, Deputy Group Chief Executive Officer, AGF, said the Nigerian youth comprising over 50 percent of the country’s population had a critical role to play in the development of the country.

“According to the Nigerian Ministry of Trade and Investment, more than 37 million MSMEs account for more than 84 percent of jobs in the country, about 48.5 percent of the Gross Domestic Product and about 7.27 percent of goods and services exported.

“The training and mentorship programme will boost MSMEs contribution to Nigeria’s overall economic growth and development.

“The Youth Entrepreneurship and Innovation Multi-Donor Trust Fund Youth-led Micro, Small, and Medium Enterprises, Training and Mentorship Programme is rolling out programmes in Ghana, Mali, Togo, and Zimbabwe in 2022,” he said.

AGF is a pan-African non-bank financial institution whose aim is to promote economic development, increase employment and reduce poverty in Africa by providing financial institutions with guaranteed products and capacity to support SMEs in Africa.