SMEDAN N1.5 Million Grant to Support Nigerian Female Entrepreneurs

SMEDAN N1.5 Million Grant to Support Nigerian Female Entrepreneurs

Great News for Female Entrepreneurs in Nigeria.

SMEDAN Awards Grants to Boost Businesses

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is giving a helping hand to female business owners. At a recent competition, they awarded N1.5 million in grants to five deserving women in Lagos.

Empowering Female Entrepreneurs through the Speed Pitch Competition

This exciting event, called the Speed Pitch Competition, was the first of its kind for SMEDAN. It gave female entrepreneurs a chance to showcase their businesses and compete for grant money. SMEDAN’s leader, Mr. Charles Odii, explained that the competition wasn’t just about the money. It was also about helping women learn valuable skills. Winners received money to grow their businesses, but all participants gained insights on how to better manage and sell their products or services.

More Opportunities to Come

The good news doesn’t stop there! SMEDAN plans to hold similar competitions in other parts of Nigeria. This will give even more female entrepreneurs the opportunity to win grants and gain valuable knowledge.

Workshops for SMEs

In addition to competitions, SMEDAN is offering workshops for small and medium businesses (SMEs) on how to structure their businesses and make persuasive presentations. These workshops will feature successful business owners who can share their experiences and offer guidance.

Winners of the Speed Pitch Competition

Five businesses competed in the recent Speed Pitch Competition. Kanyinsola Demola-Seriki, founder of Shea Tribe, impressed the judges the most and won the top prize of N1 million. Ogunkoya Goodness Adeola of Eco-Haven came in second place, receiving N500,000. Ahmod Mistura of Jumish ICT Services won N250,000 for third place. Two other businesses, Eccentric Menswear and Ayosifam Integrated Service, each received N150,000.

Stay Informed with SMEDAN

SMEDAN encourages all small and medium businesses to follow them on social media. They regularly share information about events and programs that can help businesses grow. These programs are part of their “GROW Nigerian” strategy, which aims to boost local production and exports in key sectors.

SMEDAN’s Commitment to SMEs

Mr. Odii emphasized SMEDAN’s commitment to supporting SMEs. He highlighted other initiatives, such as common facility centers, which help businesses reduce costs and access modern equipment. By empowering SMEs, SMEDAN is supporting job creation and economic development in Nigeria, as these businesses make up over 90% of all businesses in the country.

FAQs

• Who can participate in SMEDAN programs?
  Programs are generally open to all small and medium businesses in Nigeria.

• How can I find out about upcoming SMEDAN events?
  Follow their social media or visit the official website for updates on events and programs.

• What is the “GROW Nigerian” strategy?
  This is a government initiative aimed at stimulating local production and facilitating exports in key sectors of the Nigerian economy.