Startups & Innovations - Business Metrics

NEXIM, Afreximbank mobilise $50m support fund for SMEs

Apr 1, 2021 Banjo Olaniran

NEXIM, Afreximbank mobilise $50m support fund for SMEs The Nigerian Export-Import Bank (NEXIM) has announced its partnership with African Export-Import Bank (Afreximbank) to mobilise the sum of $50 million to support Small and Medium Enterprises in Nigeria. NEXIM announced on Tuesday in Abuja that the $50m Project Preparation Fund for Nigeria was for the provision of technical assistance to bankable SMEs, especially those promoted by women and youths. The bank’s Managing Director, Abubakar Bello, disclosed this at the inauguration of Women and Youth Export Development Fund with the theme,…

Aliko Dangote Foundation empowers rural women petty traders with N160m

Apr 1, 2021 Banjo Olaniran

Aliko Dangote Foundation empowers rural women in Kwara with N160m Aliko Dangote Foundation has empowered a total of 16,000 women in all the 16 local governments area of Kwara State with N160 million, the foundation has said. According to a statement from the foundation, each of the women were given the sum of N10,000 each, to help boost their petty trade and also start new businesses in a funfair event held in Kwara State on Wednesday. The deputy governor of the state, Kayode Alabi, who stood in for the…

Google, Paylink empower MSMEs with digital expertise

Mar 23, 2021 Banjo Olaniran

Google, Paylink empower MSMEs with digital expertise Paylink, a payment and ecommerce solution provider, has partnered with tech giant, Google. The deal involves empowering Micro, Small, and Medium Scale Enterprises (MSMEs) with the digital expertise through the Paylink MSME Digital Bootcamp. The organiser of the bootcamp, SystemSpecs, providers of Paylink, made this known at a forum. Through online training, MSMEs will be equipped with the digital skills to drive and scale their businesses in the digital era, recover from the impacts of the coronavirus pandemic, as well as sustain their…

CBN raises SMEs fund to N300bn as beneficiaries get N149.21bn

Mar 20, 2021 Ugochi Emmanuel

CBN raises SMEs fund to N300bn as beneficiaries get N149.21bn The Central Bank of Nigeria (CBN) today announced its decision to raise the Targeted Credit Facility (TCF) for households and small and medium enterprises from N150 billion to N300 billion. It also stated that the bank had disbursed a total of N149.21 billion to SMEs and households across the country under the TCF. Godwin Emefiele, the governor, CBN, disclosed this at a seminar for finance editors and correspondents held virtually in Lagos and Abuja simultaneously. Emefiele, who was represented…

FINAL CALL: Applications for Tony Elumelu Foundation entrepreneurship programme closes March 31

Mar 16, 2021Mar 16, 2021 Ugochi Emmanuel

Applications for Tony Elumelu Foundation entrepreneurship programme closes March 31 The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy dedicated to empowering African entrepreneurs, will close applications for the Tony Elumelu Entrepreneurship Programme on its TEFConnect digital platform (www.tefconnect.com) on March 31. The foundation stated this in a press release on Tuesday, adding that this year’s intervention prioritises the economic recovery of small and medium scale enterprises (SMEs) and young African entrepreneurs, following the Covid-19 disruption to economic activities. To address the unique challenges arising from the pandemic, lift…

Savannah Fund launches $25m fund to invest in African startups

Mar 10, 2021 Ugochi Emmanuel

Savannah Fund launches $25m fund to invest in African startups Savannah Fund, a pan-African venture capital (VC) firm, today announced a $25 million fund as it looks to back more early-stage startups on the continent. Since launching in 2012, Savannah Fund, led by Mbwana Alliy and Paul Bragiel, has backed more than 30 startups. Some of its well-known investments include South African car subscription company, FlexClub; Kenyan on-demand logistics company, Sendy; and Nigerian fintech company, Lidya. Before becoming a VC firm, Savannah Fund started as an accelerator program in Kenya. Startups who got…

FirstBank unveils FirstSME account for small businesses

Mar 7, 2021Mar 8, 2021 Ugochi Emmanuel

FirstBank unveils FirstSME account for small businesses First Bank of Nigeria Limited has announced its SME specific accounts designed to reinforce the Bank’s role in putting SME’s at an advantage whilst contributing to national growth and development. The SME accounts – which are in two variants – FirstSME Classic and FirstSME Deluxe – are offered to SMEs, irrespective of industry, and tailored to have SMEs exposed to a wide range of services and opportunities that are essential for their continued growth and role in contributing to national development, the…

FirstBank MD, Adedutan rallies support for Nigerian SMEs

Feb 17, 2021 Omobayo Azeez

FirstBank MD, Adedutan rallies support for Nigerian SMEs Adesola Adeduntan, the managing director and chief executive officer of First Bank of Nigeria Limited, has rallied stakeholders to prime support for Small and Medium Enterprises (SMEs) Nigeria. He also added that FirstBank, Nigeria’s oldest financial institution, has been able to maintain its position as one of the leading financial institutions in the country, over the years, because of its strong and consistent support for Small and Medium Enterprises (SMEs). Adeduntan stated this today while contributing to a virtual panel…

APPLY: Entries for TEF’s 2021 Entrepreneurship Programme begin

Feb 3, 2021Feb 3, 2021 Ugochi Emmanuel

APPLY: Entries for TEF’s 2021 Entrepreneurship Programme begin The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy dedicated to empowering African entrepreneurs, is currently running applications on its TEFConnect digital till March 31, 2021, for its 2021 TEF Entrepreneurship Programme. This year’s intervention prioritizes the economic recovery of small and medium scale enterprises (SMEs) and young African entrepreneurs, following the Covid-19 disruption to economic activities. To address the unique challenges arising from the pandemic, lift millions out of poverty and create sustainable employment across the continent, the Foundation’s Entrepreneurship Programme…

Remote Workforce: Tros Technologies offers free training to help SMEs, corporates stem cyber risks

Jan 22, 2021Jan 22, 2021 Ugochi Emmanuel

Remote Workforce: Tros Technologies offers free training to help SMEs, corporates stem cyber risks Says cyber attackers aggressively on the prowl Indigenous tech firm, Tros Technologies today announced free cybersecurity training, an engaging online video-based training program to help small and medium enterprises and big corporate alike in the country tackle the rising trend of cyber risk. The firm said that as the incident of Coronavirus continues to force people to work f, cyber criminals are continuously on the prowl as they exploit the environment to create victims and…