AGF Launches Training Program for Youth Entrepreneurs in Togo
African Guarantee Fund has launched a training and mentorship program for start-ups and youth-led Small and Medium Enterprises in Togo. The program is an initiative of the Youth Entrepreneurship and Innovation Multi-Donor Trust Fund, the main grant-making vehicle of the African Development Bank’s Jobs for Youth in Africa initiative.
African Guarantee Fund will implement the year-long series of training and mentorship programs with the goal of building the capacity and mentoring of 80 young entrepreneurs across the country.
AGF West Africa Managing Director, Bendjin Kpeglo said, “Youth are at the forefront of economic change and they require additional financing instruments that directly address their priorities. With its progress in improving the business environment, Togo has shown commitment to entrepreneurship. This training and mentorship program demonstrates AGF’s commitment to creating an environment that is conducive to entrepreneurship, especially for youth, with the objective of promoting economic and inclusive growth in general.”
Dowjil Capital, an investment advisory firm and the program’s coordinating partner for Togo, will connect program beneficiaries with business coaches and mentors and provide them with the technical skills necessary to develop bankable projects – more likely to be funded. Dowjil Capital will also connect the young start-up leaders with local financial institutions and private equity funds.
“Small and Medium Enterprises represent 90% of the entrepreneurial fabric and 60% of jobs across the continent,” said Stephane Atta, Dowjil Capital’s Managing Director and Founder. “Therefore, building their capacity through training and preparing them to access finance would go a long way in creating sustainable jobs, which is the objective of this program” he added.
The Youth Entrepreneurship and Innovation Multi-Donor Trust Fund’s training and mentorship program for micro, small and medium enterprises is rolling out programs in Nigeria, Mali, Ghana and Zimbabwe in 2022.