African Guarantee Fund for Small and Medium-sized Enterprises (AGF), with the support of the African Development Bank Youth Entrepreneurship and Innovation Multi-Donor Trust Fund, has rolled out a capacity-building programme to empower 80 youth-led start-ups and micro, small and medium-scale enterprises (SMEs) in Nigeria.

AGF Deputy Group Chief Executive Officer, Constant Nzi, said youths, comprising over 50 per cent of the Nigerian population, have a critical role to play in the development of the country.

“The objective of AGFs partnership with FRAGG is to build the capacity of youth entrepreneurs so that they are equipped to access financing for their sustainable growth,” Nzi added.

FRAGG Investment Management Limited, the programme coordinating partner for Nigeria, will match participants with business coaches and mentors as well as expose each of the startups to the technical skills needed to submit bankable business proposals to secure better financing opportunities.

The consulting firm also aimed to link youth-led startup leaders to local financial institutions and private equity funds.

FRAGG Managing Director Franklin Odoemenam said: “Our team is committed to supporting the Youth Entrepreneurship and Innovation initiative. This programme is in tandem with the values of FRAGG, which is entrenched in the triple bottom approach of people, profit and the planet.

“We are pledging our organisations support in equipping Nigerian youth entrepreneurs with training that will position their businesses to be investor-ready, to access financing.”

He added that the Youth Entrepreneurship and Innovation Multi-Donor Trust Fund Youth-led training and mentorship programme was also rolling out programmes in Ghana, Mali, Togo and Zimbabwe.