Apply NOW: MTN Foundation's N90m Equipment Grant - Empowering Small Businesses

Small businesses in Nigeria often struggle to access grants due to various challenges. MTN Foundation's Equipment Grant Program aims to bridge this gap by providing essential business equipment to entrepreneurs. Unlike other grant programs, participants are selected based on their engagement with the MTN ICT and Business Skills Training Program, ensuring that the funds are used effectively to meet specific business needs.

The Struggles of Small Businesses in Nigeria

Accessing funding for small businesses in Nigeria is a difficult task, especially for entrepreneurs who lack literacy, live in rural areas, or lack connections within existing networks. This leaves many businesses, such as Sokowonci Computers in Kogi State and a fashion business in Adamawa State, struggling to finance their operations amidst high poverty rates. Lack of adequate equipment, like Direct Image printing machines for colored printing, further hinders their ability to provide quality services to customers.

The Impact of Underfunding on Nigerian SMEs 

A report by the International Trade Centre (ITC) reveals that most Nigerian SMEs are underfunded, with only 15% having access to formal credit. This funding gap hampers growth and limits opportunities for entrepreneurs. MTN Foundation recognizes this challenge and aims to address it through their Equipment Grant Program.

MTN Foundation's Equipment Grant Program:

MTN Foundation's Equipment Grant Program was initiated in 2018 and primarily targets entrepreneurs in rural areas. The program has covered 16 states in Nigeria, including Abia, Adamawa, Akwa Ibom, and Lagos, benefiting over 4,036 individuals. The program's main objective is to build the capacity of young entrepreneurs through training initiatives, supported by ecosystem partners like Oracle, Microsoft, KPMG, Cisco, and IBM.

Entrepreneurs do not require any connections or referrals to participate in the MTN ICT and Business Skills Training Program. Awareness of the program can be gained through online registration platforms or word-of-mouth referrals from friends and acquaintances. The training equips participants with essential skills, such as Microsoft training and Meta training, which can be applied to their businesses. Participants are also encouraged to start their businesses with whatever resources they have.

Click Link to apply: Apply for Funding MTN ICT Equipment Grant

Unlike traditional grant programs, the MTN ICT and Business Skills Training Program takes a different approach. Instead of providing cash grants, MTN Foundation supplies selected businesses with the necessary equipment to enhance their operations. Entrepreneurs are required to list the equipment they need, and MTN Foundation ensures that these needs are met. This approach enables entrepreneurs to focus on their business goals while ensuring funds are allocated appropriately.

Testimonials from Beneficiaries:

Participants like Abafi Sokowonchi Angela and Christy Francis have shared their positive experiences with the MTN Foundation's Equipment Grant Program. Angela emphasizes the valuable lessons learned from the training, including starting a business with limited resources and maintaining strong customer relationships. Francis expresses her need for funds to establish a physical store, which will significantly impact her fashion business.

Opportunity for New Participants:

MTN Foundation is currently accepting applications for the 6th edition of the Equipment Grant Program. Selected businesses will have the opportunity to participate in a 5-week online program, including masterclasses from industry experts. Microsoft and Meta will provide training on crucial topics such as entrepreneurship in the digital age, ICT for business success, and generative AI skills. The application deadline for this edition is August 18, 2023.

MTN Foundation's Equipment Grant Program is proving to be a lifeline for small businesses in Nigeria, particularly those in rural areas. By providing essential business equipment instead of cash grants, the program empowers entrepreneurs to overcome funding challenges and achieve business growth. The ongoing invitation for new participants reflects MTN Foundation's commitment to supporting and nurturing the entrepreneurial spirit in Nigeria.

Apply NOW!