The Enterprise Development Centre (EDC) of Pan Atlantic University and the Lagos State government have announced a partnership aimed at providing 10,000 women entrepreneurs with the capital and expertise they need to launch and expand their enterprises.
The partnership, which is a component of the MasterCard Foundation-powered Transformation of Nigerian Youths programme, intends to increase women’s economic contribution and involvement in Lagos State, particularly in the fields of entrepreneurship, creative arts, digital, and agro-based skills.
At a press conference on Tuesday, Akinyemi Ajigbotafe, the state commissioner for wealth creation and employment, revealed this information. He stated that the training course will start in the first quarter of this year and last for 24 months.
He noted that the scheme will train the chosen women, who would be chosen from the State’s 20 Local Government and 37 Local Council Development Areas, using a combination of in-person community learning and online partner-sponsored learning.
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N200,000 seed fund to be awarded to the top 80 competitors
Ajigbotafe further disclosed that the top 80 participants who finish the curriculum successfully will receive a N200,000 seed cash to help them start or grow their enterprises.
According to him, the purpose of the seed money was to give the women the initial funding they needed to get past the financial obstacles that many female entrepreneurs encounter, as well as to support and recognise them for their commitment and hard work.
In addition to assuring the interested women that the selection process would be impartial and open, he advised them to apply for the programme via the EDC’s portal or the ministry’s website.
Working together to make the dream of job
In order to realise the goal of wealth development and jobs for the throngs of young people in Lagos State, Ajigbotafe further emphasised the significance of cooperation between the public and private sectors.
According to him, the current state of the economy in Nigeria and around the world makes it imperative that the government collaborate with pertinent parties, like the MasterCard Foundation and the EDC, to give young people the information and skills they need to become employable and develop their businesses.
He expressed his confidence that the relationship would benefit the women and the state and praised the EDC for its more than two decades of experience in training and developing young entrepreneurs.
Additionally, he expressed gratitude to the MasterCard Foundation for its dedication and support in transforming Nigerian youth, particularly in the fields of innovation and digital transformation.
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What the EDC does
The EDC is a training and development facility that offers the following services to female entrepreneurs in an effort to help them succeed:
Education on entrepreneurship: The EDC provides webinars, workshops, and online and offline courses on a range of entrepreneurship-related subjects, including finance, marketing, innovation, and digital transformation. Access to tools, resources, and information that might assist female entrepreneurs in launching and expanding their enterprises is another service offered by the EDC.
Networking and mentoring: The EDC links female entrepreneurs with peers, mentors, and professionals who can provide direction, criticism, and support. Additionally, the EDC plans platforms and events that help female entrepreneurs network and work together with other business owners, financiers, and stakeholders both domestically and globally.
Support for finances and risk mitigation: The Export Development Canada (EDC) collaborates with other financial organisations to give women entrepreneurs access to funding, credit, and financial services. Additionally, the EDC assists female entrepreneurs in navigating the dangers and difficulties associated with exporting, including exchange rate swings, market restrictions, and supply chain interruptions.