By Chinenye Anuforo
Google through its Hustle Academy Thursday empowered 15 Small and Medium Businesses (SMBs) in Nigeria with N5 million each totalling N75 million.
The Hustle Academy program, designed to address specific challenges faced by SMBs in Africa, offers practical skills and resources to help these businesses grow.
Speaking during the Google Hustle Academy graduation event in Abuja, Olumide Balogun, Country Director for Google in West Africa explained that 5,300 SMBs across Africa celebrated their graduation from the Academy, Thursday, November 23, 2023 showcasing their commitment to enhancing their business skills and knowledge.
“This graduation marks a continuation of the program’s impact, with over 10,300 entrepreneurs having participated since its inception in 2022.”
He pointed out that his largest take-away, when reviewing the report and listening to the testimonials from the graduates, was that Africa’s SMBs, armed with the right tools and knowledge, can do anything they set their mind.
Balogun said rising inflation and the cost of living crisis has significantly impacted the sustainability of small businesses across Africa adding that International Finance Corporation estimated that there are at least 44 million formal MSMEs in Sub-Saharan Africa, half of which require more finance than they can access to grow their businesses. “The finance qap is estimated at more than $400bn. Digital skilling and tools have a significant role to play here. Not only do SMBs that are digitally enabled report access to more customers and higher sales, but they also have lower costs than their analogue counterparts.”
He praised the passion and resilience shown by the SMBs noting that they are truly inspiring. “The Hustle Academy is a testament to what focused training and resources can achieve. We are not just celebrating their graduation today; we are recognising their potential to reshape and invigorate the Nigerian business landscape.”
He stressed that SMBs are critical to Africa’s economic growth and job creation. “I am encouraged to see the impact of that digital skills programmes like Hustle Academy have in supporting these businesses,” Balogun added
The recipients represent various industries and demonstrate the creativity of Nigerian entrepreneurs, among them are Ifeoma Augusta Anselem – Rae’s Clothing, Femi Bolaji – Wauley Projects Limited, Nafisa Abdulrazaq Sabo – Pinch N’ Dash, Funmilola Moronke Agbayewa – Segunfunmi foods Nigeria Limited.
Others include: Chigozie Bashua – The Nut Place Limited, John Samuel Andefiki – Kita Farm, Hussaini Aliyu Baba – Lead Way Family Poultry, Aminu Abdulkarim – A.A.K. Shoes, Constance Ufuoma Edesiri – Stance Fashion Empire, Chikere Onyinyechi Breakthrough – Clozetsales, Anita Aletor – Rotela Business Synergy, Ojo Femi Christopher – Foodlane ventures, Angela Jidechukwu Nwabueze – Jelapetra Farms Ltd, Eniola Robert – Ennie Wears and Blessing Akpan – Inyene Agro processing factory Ltd.
In a goodwill message, Tola Adekunle-Johnson, senior special assistant to the Vice President on Job Creation and SMEs, promised more support for the SMBs in the country.
He announced that the President, Bola Ahmed Tinubu, will soon inaugurate the SMEs Council as means to coordinate public-private sector collaborations to achieve more results.
Charles Odii, director general, Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), congratulated the graduates for gridding the challenges in the ecosystem.
The DG announced the on-boarding of the Google Hustle Academy into SMEDAN licensed Business Development Service Providers (BDSPs) Scheme.
The BDSPs are Nigerians from the entrepreneurial ecosystem across the country that have met the requirements to practice their profession in a particular jurisdiction.
Femi Bolaji, founder of Wauley Projects Limited, a graduate from Nigeria and one of the 15 fund recipients, commented, “The Hustle Academy has equipped us with vital business knowledge, and being selected for the fund is a significant boost that will propel our business forward.”
The graduates and fund recipients represent a diverse array of industries, each bringing a unique story and vision for the future.