First City Monument Bank (FCMB) has initiated an accelerator program in collaboration with SkillPaddy and other industry experts to empower and upskill over one million small and medium-sized enterprises (SMEs) in Nigeria. The program aims to equip startups and existing businesses with the skills and resources needed to develop innovative products and services, create new markets, and accelerate their growth.
FCMB secured Technical Assistance grants totaling N511.7 million from Proparco and the African Development Bank (AfDB) to support the upskilling of SMEs, including women entrepreneurs and those operating in high-impact sectors such as agriculture, renewable energy, and digital.
The bank kicked off the program by awarding N50 million in grants to 200 SMEs who participated in the first training session, announced during Global Entrepreneurship Week 2023. George Ogbonnaya, FCMB’s Group Head of SME banking, emphasized the bank’s commitment to empowering businesses and inspiring Nigerians to pursue their entrepreneurial dreams.
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