Nigeria’s leading bank, Access Bank, has launched a groundbreaking initiative called YouThrive. This program aims to empower a staggering 700,000 Micro, Small and Medium Enterprises (MSMEs) run by young Nigerians over the next four years. This ambitious project goes beyond just providing financial aid. YouThrive offers a comprehensive support system designed to equip young entrepreneurs with the tools and knowledge needed to thrive.
Financial Muscle for Young Businesses:
The cornerstone of YouThrive is a dedicated N50 billion loan fund earmarked for MSMEs led by individuals between the ages of 21 and 40. This translates to significant financial backing for young Nigerians with promising business ideas. Importantly, Access Bank promises “a huge, discounted interest rate,” making these loans even more attractive and accessible.
Building Businesses, Not Just Lending Money:
YouThrive recognizes that financial support alone isn’t enough. The program includes a robust capacity-building component. MSMEs chosen for the program will participate in tailored training programs focused on various critical areas:
- Technology: Mastering the latest tools and technologies can give young businesses a significant edge.
- Creativity: Fostering creativity is essential for innovation and differentiation in today’s competitive landscape.
- Business Management: Sound business management practices are crucial for sustainable growth.
- Skill Acquisition: Equipping entrepreneurs with relevant skills ensures they have the capabilities to excel.
Through this comprehensive training, YouThrive aims to empower young entrepreneurs with the knowledge and skills needed to navigate the complexities of running a successful business.
Going Global: Learning from the Best
YouThrive doesn’t stop at domestic support. The program includes a unique “business exchange program.” This initiative allows exceptional young entrepreneurs to gain invaluable international exposure by exchanging ideas with counterparts in other countries. This cross-pollination of knowledge and experience can be a game-changer for aspiring business leaders.
Employment Opportunities and a Brighter Future
YouThrive extends beyond just empowering individual businesses. The program aims to create a ripple effect by generating employment opportunities. Access Bank, along with its partners, has committed to recruiting 1,000 outstanding graduates from the YouThrive training programs within the tech space and the broader Access ecosystem. This not only benefits the graduates but also injects a pool of highly-skilled individuals into the Nigerian economy.
Collaboration for Success
YouThrive isn’t a solo endeavor. The initiative is a prime example of public-private partnership in action. Access Bank has partnered with the Nigerian government, demonstrating their shared commitment to fostering a vibrant SME sector. This collaboration can pave the way for a more supportive ecosystem for young entrepreneurs in Nigeria.
A Call to Action for Young Nigerians
The YouThrive program presents a remarkable opportunity for young Nigerians with entrepreneurial ambitions. If you’re between 21 and 40 and have a promising business idea, this initiative could be the springboard you need to launch your dreams into reality.
To learn more about YouThrive and explore your eligibility, visit the program website by clicking HERE or send an email to Project.YouThrive@ACCESSBANKPLC.com Don’t miss out on this chance to be part of the next generation of empowered Nigerian entrepreneurs!
Source: Techcabal