The Small and Medium Enterprise Development Agency of Nigeria in conjunction with Brave Women Nigeria has announced the commencement of The BRAVE Women Program, a 5-year multi-donor fund implemented in Yemen, Nigeria, and Burkina Faso.
The Brave Women Programme seeks to develope the capacity of women SME’s to achieve business resilience and become drivers of change in selected value-chain.
The Grant will be disbursed by JAIZ Bank as a project under Women Entrepreneurship Finance Initiative.
Women Entrepreneurship Finance Initiative (We-Fi) is a multi-donor fund currently being administered by the World Bank under the Business Resilience Assistance for Value-Added Enterprises (BRAVE) Women Program designated Islamic Development Bank Group (IsDBG) as one of the Implementing Partners (IPs) to support in the implementation of projects.
The Brave Women Programme is categorised into three as discussed below:
- Must be located in any of the project states (Lagos and Abuja)
- Women-owned SMEs are those SMEs in which women own 51% or more shareholding in the enterprise.
- For Women-led SMEs, women must own at least 20% of the shares.
- The enterprise must also have at least one woman in top management positions (COO/CEO/President/Vice President) or 30% women membership in the Board of Directors (where the board exists).
- The SMEs must be active in the business sectors of agri-business, education, health, textile/garments and energy.
- Must have between 2 and 100 staff.
- Must not be involved in providing financial services and charging interest (like conventional banks, and insurance companies) or involved in any other business not approved under the Shari’ah (including the manufacturing, selling or offering of liquors, pork, haram meat, or involvement in gambling, night club activities or pornography.
- Registered enterprises (business name, partnership or limited liability company) are preferred, but if you are in the process of registering with CAC and have evidence of business operations for the past 12 months, you can still register and submit your application.
To Apply for Women-owned/led Small and Medium Scale Enterprises (SMEs) Grant, follow the link https://app.bravewomenng.com
- Lead firms are large companies with commercial relationships with at least 20 Micro, Small and Medium Scale Enterprises MSMEs.
- They buy finished products or semi-processed products from the MSMEs and are active in the business sectors of agri-business, education, health, textile/garments and energy.
- They can be located in any part of Nigeria, but must have dealings with MSMEs in at least one of the project states of Lagos and Abuja.The lead firm must also have commercial business with at least two major actors in its business sector value chain.
To Apply for Lead Firms, follow https://app.bravewomenng.com
- Business Associations must have many active members and provide services to them in the business sectors of agri-business, education, health, textile/garments and energy.
- The business associations must provide trainings, market expansions, cost saving innovations services etc. to members and represent their interests at state and national levels.
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