In furtherance of its commitment to capacity building for manufacturers in the nation’s economy, the Development Bank of Nigeria (DBN) has released the eligibility criteria for the commencement of the 2024 edition of its flagship Annual DBN Entrepreneurship Training Programme (DBNETP) for Micro, Small and Medium Enterprises (MSMEs) nationwide.
The annual DBN Entrepreneurship Training Programme (DBNETP) currently in its 6th Cycle, is a core mandate of the Development Bank of Nigeria, and so far, has trained over 4,000 MSMEs across Nigeria digitally and physically, leveraging partnerships and the DBN Learning Management System (LMS).
A statement from the bank indicated that the capacity-building programme aimed to ensure MSMEs are well-equipped with skills and competencies to defend sound and viable business proposals; improve the capacity of MSMEs to access available credit, as well as improve the capacity of MSMEs for efficient funds utilisation, trade, investments and access to markets.
According to the bank’s management, the participating MSME must meet certain minimum eligibility criteria, which include the business owner not being below 18 years of age, and must also be a citizen or legal resident of Nigeria. Furthermore, the business must be based in Nigeria, and such MSME which can be from any sector of the economy, must be for profit, while the owner must be available and commit to attending the training once the application for participation is accepted.
The statement adds that 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.
Commenting on the 2024 DBN Entrepreneurship Training Programme (DBNETP), the bank’s Managing Director/CEO, Dr. Tony Okpanachi, 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. 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.
“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“, the banker 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 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 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. 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 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.
