Entrepreneurship: DBN Kicks Off 2024 Flagship Training For MSMEs

• Advertises eligibility criteria 

BY COBHAM NSA – The Development Bank of Nigeria (DBN) has announced eligibility criteria for Micro, Small and Medium Enterprises (MSMEs) interested in the 2024 edition of its flagship Entrepreneurship Training Programme (DBNETP)

Currently in its 6th cycle, the DBNETP, as an annual event, is a core mandate of DBN. So far, it has trained over 4,000 MSMEs across Nigeria digitally and physically, leveraging partnerships and the DBN Learning Management System (LMS).

The Bank said the “capacity-building programme aims to ensure MSMEs are well-equipped with skills and competencies to defend sound and viable business proposals; improve the capacity of MSMEs to access the available credit, as well as improve the capacity of MSMEs for efficient funds utilisation, trade, investments, and access to markets.”

A statement from the Bank’s management explained that the participating MSME must meet certain minimum eligibility criteria, such as the business owner not being below 18 years of age, and must also be a citizen or legal resident of Nigeria.

According to the statement, the business must be based in Nigeria, and such MSME which can be from any sector of the economy, must be for profit. At the same time, the owner must be available and commit to attending the training once the application for participation is accepted.

Furthermore, the selection criteria for the capacity training include bankability, that is, the level of readiness of the MSME to access credit; feasibility and sustainability of the business model; and scalability, that is, the demonstrable potential for growth and ability to create jobs.

DBN’s Managing Director and Chief Executive Officer, Dr Tony Okpanachi, who spoke on the programme, said; “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”, adding that; “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.”

He further said; “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 needing this training most.

“It also ensures a fair and transparent selection process, empowers the MSMEs to succeed and ensures measurable impact and outcomes.“

Okpanachi described DBNETP as a blended virtual and physical learning, explaining that; “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.”

For the onsite training, which is a 5-day intense practical training, the Bank stated that its robust curriculum is based on a needs assessment of the shortlisted businesses.

In total, over 300 businesses will be shortlisted for the online training and they will be trained in three locations namely Lagos, Abuja and Port Harcourt.

Meanwhile, formal registration for the training has commenced on the DBN Learning Management System (LMS) of the BizAid application platform, https://bizaid.devbankng.com.

Accordingly, 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 percent from all quizzes. The courses are Accounting and Bookkeeping, Sustainability for MSMEs, Marketing and Sales Techniques, and Credit Management/Access to Finance.

Also, available information indicates that upon completion of the four courses by the stipulated deadline and achieving the required 80 percent pass mark, the business owner will receive an email with a link to apply for the face-to-face training.

Additionally, 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. This is as further communication will also be shared with the successful applicants providing other important details of the training.

Importantly, the Bank is encouraging all MSMEs nationwide to take advantage of the DBNETP platform to upscale their businesses to the next level.