In furtherance of its goal to promote sustainability amongst women-owned small and medium enterprises (WSMES) in Nigeria, the BRAVE Women Nigeria project held a series of training on financial literacy through its team of Business Development Support Organisations (BSDOs) for over six hundred businesses in Edo, Gombe, Kano States. The series of training, which held from 9 to 15 May 2022, introduced beneficiaries to best practices in financial recordkeeping and were done online and physically simultaneously.
Recalling the experience, Bridget Irabor, CEO of Biddylab Global Concept and a project beneficiary in Edo State, had the following to say: “the training has been great. We’ve been trained about recording our financials, including daily and monthly transactions. It has been so wonderful, we have been enjoying it, and it’s been excellent. We have been enlightened on how to keep our records and to know the state of our finance in business. It has been so good”.
Similarly, Mrs. Osinachi, the proprietress of Refined Kiddies Montessori School in Edo State, also said the following things about the training received: “The training has been impactful. The facilitator has taught us many things, so many of which I didn’t even know as a businesswoman I was meant to be doing. These include our sales records, daily business transaction records, salary records, and other expenses. The training has been impactful and great. I have learnt a lot. I am sure that by the time I begin implementing what I have learned, it will go a long way to improve how I run my business financially.”
In addition to the training received, the BRAVE Women Nigeria project beneficiaries are receiving support from business development support organisations (BDSOs), who will handhold and guide them as they implement the knowledge and skills gained from the training in their day-to-day business operations.
About BRAVE Women Nigeria
Business Resilience Assistance for Value-adding Enterprises for Women in Nigeria (BRAVE Women Nigeria) is part of a wider initiative funded by the Women Entrepreneurs Finance Initiative (We-Fi) and implemented through the Islamic Development Bank. Nigeria’s Bank of Industry is executing it. It combines training elements for 600 firms and grant-matching support for 500 WSMEs, 20-30 lead firms, and 10 business associations to support growth and resilience. The Project seeks to enable an empowering business environment for women entrepreneurs in Nigeria and strengthen their resilience. This project phase is being implemented in Edo, Gombe and Kano States and is expected to end in 2023.