The German Development Cooperation (GIZ) has worked with the Federal University of Technology, Minna (FUT Minna) to launch an e-learning platform on financial literacy and entrepreneurship. The platform, SMEsabi, was designed by The Pro-Poor Growth and Promotion of Employment in Nigeria programme – SEDIN, a GIZ scheme, GIZ revealed in a statement.
GIZ noted that Micro, Small and Medium Enterprises (MSMEs) were pivotal towards alleviating the rising unemployment rate that had reached 35 per cent – the highest in 10 years – and which was projected to reach 40 per cent.
Business trends show that about 20 per cent of MSMEs fail in the first year, half succumb to business failure within five years, and by the 10th year, only about 33 per cent survive.
But the chances of survival of MSMEs can be improved with access to comprehensive and professional business support tools for the business owner and employees, which is the goal of SMEsabi.
The platform offers four courses: basic financial literacy, advanced financial literacy, financial literacy trainer and entrepreneurship fundamentals, which can be learned in 24 hours with a certification by GIZ and FUT Minna.
The statement further indicated that over 3,000 Nigerians have registered on the platform, with over 800 certificates awarded.
The target groups of SEDIN are the owners and employees of MSMEs and members of other economically active low-income households which it is leveraging by improving financial literacy through the SMEsabi platform.
