The programme targets 6,122 entrepreneurs who have completed the training and entrepreneurship development programme under SMEDAN’s Inspire, Create, Start and Scale (ICSS) initiative. The ICSS programme equips participants with practical skills in business creation, growth, and sustainability before enabling access to financing.
Linking Training to Affordable Financing
Speaking at the official unveiling of the GROW Fund for ICSS trainees in Abuja, SMEDAN’s Director-General emphasised that the scheme bridges a critical gap between training and access to capital.
“This initiative signals a significant shift from routine training to a more structured support framework that directly links capacity building to single-digit interest loans and asset financing,” he said. “Many small businesses have received training through several capacity development initiatives, but access to financing remained a major challenge. With the GROW Fund, entrepreneurs can now unlock capital immediately after completing the standardized ICSS training.”
The Director-General added that financing for small businesses in Nigeria has historically been scarce and expensive. By offering single-digit interest loans, SMEDAN aims to empower entrepreneurs to expand their operations and drive economic growth at the grassroots level.
International and Institutional Support
The scheme benefits from collaboration with multiple partners, including the German Cooperation through GIZ, Kaduna Business School, GOPA, and worldwide consultants.
Dr Karin Jansen, First Secretary and Head of Cooperation at the Embassy of Germany in Abuja, praised SMEDAN for its leadership role in the ICSS programme across Lagos, Edo, Ogun, Niger, Plateau states, and the Federal Capital Territory. She described the initiative as a modular entrepreneurship pathway designed to meet the needs of small businesses at different stages — from inspiration and startup to growth and scaling.
Jaiz Bank’s Role and Commitment
Dr Haruna Musa, CEO of Jaiz Bank Plc, represented by General Manager Idris Ahmed Musa, highlighted the GROW Fund as a catalyst for innovation, job creation, and inclusive economic development.
“At Jaiz Bank, we firmly believe that sustainable economic growth must be inclusive. Empowering small businesses remains central to our non-interest banking model,” he said. “MSMEs play a critical role in job creation, grassroots economic transformation, and innovation. The GROW Fund scheme provides entrepreneurs with the resources required to unlock their potential and build resilient enterprises capable of contributing meaningfully to national development.”
By combining structured entrepreneurship training with accessible financing, SMEDAN and Jaiz Bank aim to create a sustainable ecosystem for MSMEs, strengthening Nigeria’s economy and supporting the next generation of business leaders.