August 25, (THEWILL) – The Development Bank of Nigeria (DBN) has officially launched the 2024 edition of its flagship Annual DBN Entrepreneurship Training Program (DBNETP), aimed at equipping Micro, Small, and Medium Enterprises (MSMEs) in Nigeria with the necessary skills and knowledge to thrive in today’s economy.
Now in its 6th cycle, the DBNETP has successfully trained over 4,000 MSMEs across the country, offering both digital and physical learning experiences. The program is a key initiative of the DBN, designed to enhance the ability of MSMEs to access credit, efficiently utilize funds, engage in trade, and expand their market reach.
Giving more details, the Bank said, to participate in the 2024 DBN Entrepreneurship Training Program, MSMEs must meet the following criteria:
– The business owner must be at least 18 years old and a Nigerian citizen or legal resident.
– The business must be based in Nigeria and operate for profit.
– The business can belong to any sector of the economy.
– The owner must commit to attending the training upon acceptance of the application
The selection process for the DBNETP is based on the following factors:
– Bankability: The MSME’s readiness to access credit.
– Feasibility and Sustainability: The viability and long-term potential of the business model.
– Scalability: The business’s potential for growth and job creation.
The DBNETP offers a blended learning experience, combining virtual and physical training:
– Virtual Training: This includes a self-paced curriculum delivered through the DBN Learning Management System (LMS) via the BizAid App. The curriculum covers basic business principles divided into nine modules.
– Onsite Training: A five-day intensive practical training session, based on the specific needs of the shortlisted businesses, will take place in Lagos, Abuja, and Port Harcourt.
Interested MSMEs can register for the training on the DBN Learning Management System (LMS) via the BizAid platform at [https://bizaid.devbankng.com](https://bizaid.devbankng.com).
Participants are required to complete at least four mandatory courses on the BizAid LMS and achieve a minimum overall score of 80% in the quizzes. The mandatory courses are:
1. Accounting and Bookkeeping
2. Sustainability for MSMEs
3. Marketing and Sales Techniques
4. Credit Management/Access to Finance
Upon meeting these requirements, participants will receive an email with a link to apply for the in-person training sessions.
After the submission of application forms, applicants will receive a confirmation email within 24 hours. The DBN will then screen and shortlist participants based on the eligibility criteria. Successful applicants will be provided with additional details regarding the training.
Dr. Tony Okpanachi, Managing Director and CEO of the DBN, has encouraged all eligible MSMEs to take advantage of this opportunity to enhance their business capabilities. He emphasized that the training program is crucial for driving economic growth, innovation, and job creation in Nigeria.
The DBN’s 2024 Entrepreneurship Training Program is set to empower MSMEs to succeed and create a measurable impact on the Nigerian economy.
