Barbara Bako, Abuja.
The Development Bank of Nigeria (DBN) has made available the qualifying requirements for the start of its renowned Annual DBN Entrepreneurship Training Programme (DBNETP) for Micro, Small, and Medium-Sized Enterprises (MSMEs) in Nigeria in 2024.
Relying on partnerships and the DBN Learning Management System (LMS), the annual DBNETP is in its sixth cycle and is a fundamental mandate of the DBN. To date, it has trained over 4,000 MSMEs in Nigeria both digitally and physically.
The capacity-building program, according to a statement from the Bank, aims to make sure MSMEs have the knowledge and abilities to support sound and feasible business proposals; enhance their ability to obtain credit; and enhance their ability to use funds, trade, invest, and access markets effectively.
The business owner of the participating MSME must be at least eighteen years old and a citizen or lawful resident of Nigeria, among other minimum eligibility requirements stated by the Bank.
In addition, the enterprise must have its headquarters in Nigeria, be a profit-making MSME that can operate in any industry, and have an owner who is willing to attend the training sessions as soon as their application is approved.
The statement goes on to say that bankability, or the MSME’s degree of preparedness to obtain credit, sustainability and viability of the business plan, and scalability, or the track record of growth and employment creation, are among the selection criteria for the capacity training.
In his remarks regarding the 2024 DBN Entrepreneurship Training Programme (DBNETP), Dr Tony Okpanachi, the Managing Director/CEO of the Development Bank of Nigeria, stated: “I am enthralled to announce the commencement of the 2024 edition of our flagship annual DBN Entrepreneurship Training Programme (DBNETP) for Micro, Small and Medium Enterprises (MSMEs) in Nigeria.
He said, “Capacity building training is pivotal for MSMEs growth in Nigeria as it bridges the knowledge and skills gap, empowering entrepreneurs to innovate, compete, and thrive in a rapidly evolving economy.”
Continuing, he stated: “Our capacity-building training is a catalyst for unlocking MSMEs’ potential as a key driver of economic growth, innovation, job creation, and prosperity in Nigeria.
“Hence, establishing clear eligibility and selection criteria for the participating MSMEs ensures targeted support for businesses that need this kind of training most. It also ensures a fair and transparent selection process, empowers the MSMEs to succeed and ensures measurable impact and outcomes,” he added.
The DBNETP is a blended virtual and physical learning, the virtual model is a self-paced comprehensive curriculum of the basic business principles broken down into nine (9) modules and will be implemented using the DBN learning management platform of the BizAid App.
The onsite training – a 5-day intense practical training – is a robust curriculum and is based on a needs assessment of the shortlisted businesses.
In total, no less than 300 businesses will be shortlisted for the online training and they will be trained in Lagos, Abuja and Port Harcourt respectively.
Formal registration for the capacity training has commenced on the DBN Learning Management System (LMS) of the BizAid application platform, https://bizaid.devbankng.com.
Participating MSME owners are expected to complete a minimum of four (4) mandatory courses on the BizAid LMS and obtain an overall score of 80 per cent from all quizzes.
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The courses that must be completed are Accounting and Bookkeeping, Sustainability for MSMEs, Marketing and Sales Techniques, and Credit Management/Access to Finance.
Upon completion of the four courses by the stipulated deadline and achieving the required 80 per cent pass mark, the business owner will receive an email with a link to apply for the face-to-face training.
Furthermore, upon submission of the application forms, each applicant will receive a confirmation email within 24 hours; followed by the screening and shortlist of applicants from the close of the application based on the eligibility criteria.
Further, the statement states that communication will also be shared with the successful applicants providing other important details of the training.
Consequently, the Bank is encouraging all MSMEs to seize this opportunity by taking advantage of the DBN 2024 Entrepreneurship Training Platform to upscale their businesses.
