Development Bank of Nigeria Set to Train 1,000 MSMEs, Calls for Entries
The Development Bank of Nigeria (DBN) Plc has concluded plans for the 2021 Entrepreneurship Training Programme in line with its mandate. The exercise is expected to commence from August 16 to October 14, 2021. The programme which will be implemented in phases over three months will develop the capacity of 1,000 MSMEs drawn from across the country with the requisite business knowledge and skills to upscale their businesses amidst the challenges of the new normal posed by the COVID 19 Pandemic.
The MD/CEO of the Bank, Tony Okpanachi, said the DBN Entrepreneurship Training Programme is being organised in collaboration with Google Nigeria, Enterprise Development Centre (EDC) off the Lagos Business School and Wider Perspective Limited (WPL). This is in line with the Bank’s mandate of enhancing the capacity of MSMEs’ to improve their chances of having access to finance. He elaborated that:
“As a Development Financial Institution established to bridge the financial gap through our Participating Financial Institutions, our strategic focus is providing liquidity, credit guarantee, and capacity building for MSMEs to be more productive. The Capacity Building initiative is an integral part of the bank’s mandate to drive economic growth by empowering MSMEs with the skills required to improve their capacity and productivity. So, our objective, in a nutshell, is to equip entrepreneurs across sectors of the Nigerian economy with the requisite management skills to develop viable business plans, access funds, and effectively manage their business growth. Through this training, we will enhance their entrepreneurial and managerial competencies,” he added.
Okpanachi called on eligible MSMEs across the country to avail themselves of the opportunity that the training programme provides.
On the eligibility of candidates, the Managing Director informed that candidates for the programme who must be young entrepreneurs, must be 18 years and above, Also, they must be citizens as well as legal residents in Nigeria, and must be available to commit to the training schedule once accepted. Additionally, the businesses must be based and registered with the Corporate Affairs Commission (CAC) in Nigeria, across all sectors.
He further informed that the programme does not qualify any participant for grants or guaranteed loans at the end of the training. However, successful candidates would benefit from the content and advisory services which will be given by industry experts in addition to the DBN Entrepreneurship Training Certificate.
He urged all eligible MSMEs to apply through the Bank’s online application portal at www.devbankng.com which will be opened from July 5th to 1st of August 2021 as well as follow the Bank’s social media handle to complete the application form. He further added that:
“Upon submission of the application form, an email confirming receipt will be sent to the applicant within 24 hours. Applicants will be screened and shortlisted at the close of the application based on the eligibility criteria and selection will be carried out using the defined selection criteria from the pool of shortlisted applications. All successful applicants shall be informed by email and phone calls, using the details supplied on the application portal,” Okpanachi concluded.
The Development Bank of Nigeria Plc is a wholesale development finance institution, established by the Federal Government of Nigeria in collaboration with global development partners (The World Bank, AfDB, KfW, AFD, and EIB) to address the major financing challenges facing Micro, Small, and Medium Scale Enterprises (MSMEs) in Nigeria. DBN carries out this function by providing financial institutions, predominantly Deposit Money and Microfinance Banks with on-lending facilities designed to meet the needs of this segment.