Business Finance Headline News Nigeria

E-learning portal on financial literacy developed

An e-learning platform on financial literacy and entrepreneurship for Entrepreneurs and Micro Small and Medium Enterprises MSMEs has been developed.

The platform called SMEsabi was designed by The Pro-Poor Growth and Promotion of Employment in Nigeria programme- SEDIN (a programme by the German Development Cooperation, GIZ) in collaboration with the Federal University of Technology, FUT Minna.

A statement by The Access to Finance Advisor, SEDIN Programme, GIZ, Jennifer Seydel recognises that MSMEs are pivotal towards alleviating the rising unemployment rate in Nigeria, which has reached 35% and projected to further escalate to 40%. 

It says business trends show that about 20% of MSMEs fail in the first year, half succumb to business failure within five years and by the 10th year, only about 33% survive. 

According to the statement, the chances of survival of businesses can be improved with access to comprehensive and professional business support tools for the business owner and employees. 

It says the goal of SMEsabi is therefore to equip entrepreneurs in Nigeria with the knowledge to improve their income-earning potential, business capacity, acumen, and ultimately make smart money decisions.

The statement says the current SMEsabi courses available include: Basic Financial Literacy Advanced Financial Literacy, Financial Literacy Trainer and Entrepreneurship Fundamentals

The e-learning portal is free and available on desktop and mobile devices from www.smesabi.com 

Writing by Annabel Nwachukwu; Editing by Abdullahi Lamino