African Guarantee Fund (AGF): Now Launches a Training & mentorship Scheme for Youth in Nigeria

African Guarantee Fund (AGF): Now Launches a Training & mentorship Scheme for Youth in Nigeria – African Guarantee Fund for Small and Medium-sized Enterprises (AGF) Launches a Training & mentorship Scheme for youth in Africa starting from Nigeria. This program is ongoing. Would you want to participate? Then read on.

African Guarantee Fund for Small and Medium-sized Enterprises (AGF)

African Guarantee Fund for Small and Medium-Sized Enterprises (AGF) is a pan-African non-bank financial institution. Its aim is to promote economic development. And by that, increase employment and reduce poverty in Africa by assisting financial institutions to scale up their SME financing. So, we bring you you the latest news and updates from AGF.

African Guarantee Fund (AGF): Now Launches a Training & mentorship Scheme for Youth in Nigeria

The Program:

The African Guarantee Fund for Small and Medium-sized Enterprises (AGF) has launched a training and mentorship program 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 on Friday 27the May 2022 in Lagos. According to him, the program is with the support of the African Development Bank’s Youth Entrepreneurship and Innovation Multi-Donor Trust Fund.

He 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 youths comprising over 50 per cent of the country’s population had a critical role to play in the development of the country.

He added that objective of the AGFs partnership with FRAGG Investment Management Ltd., the program coordinating partner for Nigeria, was to build the capacity of youth entrepreneurs to access financing for sustainable growth.

N’zi said that FRAGG would match program’s participants with business coaches and mentors, as well as teach them the technical skills needed to submit bankable business proposals most likely to secure financing.

He added that the consulting firm also aims to link youth-led startup leaders to local financial institutions and private equity funds.

African Guarantee Fund (AGF): Now Launches a Training & mentorship Scheme for Youth in Nigeria

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

“The training and mentorship program 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 Program is rolling out program in Ghana, Mali, Togo, and Zimbabwe in 2022,” he said.

FRAGG

Mr Franklin Odoemenam, FRAGG Managing Director, pledged the organisation’s support in equipping Nigerian youth entrepreneurs with training that would position their businesses to be investor-ready, in order to access financing.

“Our team is committed to supporting the Youth Entrepreneurship and Innovation initiative and this program is in tandem with the values of FRAGG, which is entrenched in the triple bottom approach of people, profit, and the planet,” he said.

News Agency of Nigeria (NAN)

The News Agency of Nigeria (NAN) reports that 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 guarantee products and capacity to support SMEs in Africa.

FRAGG is an impact investment management and advisory company specializing in the mobilization of funds targeting investments in the impact and climate domains.

African Guarantee Fund (AGF): Now Launches a Training & mentorship Scheme for Youth in Nigeria

Let us know your business needs:

Yes! Let us know your business needs, we may help out. So, check out the list below, you may have what we can help you fix in your business.

1. With A bankable Business Plan for all scope of operation
2. Train and apply for CBN/BOI/ NIRSAL MFB AGSMEIS and other loan facilities
3. Register your business appropriately with C.A.C.
4. Make incorporation changes for you @ C.A.C. – change of MEMART, Director, Shareholding etc.
5. Render annual returns for you @ C.A.C. and obtain other certifications/reports for you
6. Apply and obtain SCUML certificate for your banking purposes
7. Apply and obtain contract bidding compliance certificates for you – PENCOM, NSITF, ITF, BPP IRR, Tax Clearance certificate
8. Auditing Services and Tax management services
9. Apply and obtain regulatory certificates – Import/Export licenses, NCC licenses, NAFDAC certificates etc.
10. And other consultancy services

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