2019 Road to Growth Nigeria Program for Female Entrepreneurs
Road to Growth is a collaborative venture developed in partnership between the Cherie Blair Foundation for Women and the ExxonMobil Foundation, designed to build the business skills and financial literacy of women entrepreneurs.
Road to Growth provides support to women entrepreneurs in a series of phases.
Phase 1: Two thousand women access learning, networking and support opportunities through a mobile learning app called HerVenture. The app features five learning ‘tracks’ on a range of needs, including launching a business, product innovation and expanding market access. Based on user input, the app suggests a personalised learning roadmap for each entrepreneur. It also allows users to find and connect with each other, as well as learn about local business events.
Phase 2: Eight hundred of these women will be selected to undertake financial literacy and investment readiness training over six weeks (please see below for selection criteria). The women will take an online training course structured around a custom-built ‘Road to Growth’ curriculum. This will be supplemented with face-to-face training and support and peer-to-peer learning.
Phase 3: One hundred and sixty of the women who completed phase 2a will be selected to receive further intensive support over six months to access financial services, investment, and new markets through advanced business workshops and customised coaching.
In order to qualify for phase 2a women must:
- Own a business in Nigeria
- Operate a business in a high-growth sector
- Have between three and 49 staff
- Have an annual turnover of ₦ 3-20 million (USD 15,752 – USD 63,000)
- Have a business which has generated profit for at least two years
- Have a strong desire and commitment to grow their business
- Have a need for additional investment and have had no previous access to loans