Entrepreneurs seem to agree that growing and scaling a business is challenging. Luckily, the availability of finance helps drive business growth. Some business owners receive financial support from friends and family, while others receive funding from investors. Business owners can also access funds through grants and loans.
Unlike loans, grants are non-repayable and are typically viewed as gifts to the business. Several organizations around the world including Nigeria offer a range of grant opportunities and initiatives for business owners. Recently, the MTN Foundation awarded an equipment grant worth 40 million to 200 young entrepreneurs after four weeks of ICT and business skills training.
The entrepreneurs received their grants on Friday 27 May 2022, at the graduation ceremony held virtually. Even through the virtual platform, the excitement could easily be felt as the recipients turned on their cameras to express their happiness.
During the training, one of the grantees, Abigael Obaro, spoke , on the impact of the training and how she hopes to use the grant to start her business.
“The training was an opportunity for me to learn how I can improve my business and I will explore everything I learned during the training. Thank you to all the partners who donated their time and thank you to the MTN Foundation for the training and scholarship,” she said.
The fifth phase by MTN The Foundation’s ICT and Business Skills Training Program was delivered in partnership with Google, Microsoft and Meta. The training was designed for 3,000 young entrepreneurs aged between 18 and 35 in six Nigerian states; Lagos, Cross River, Anambra, Kogi, Jigawa, and Adamawa.