The Youth Entrepreneurship Support (YES) Programme is BOI’s effort at addressing the worrisome phenomenon of youth unemployment in Nigeria by building the capacity of the youths and funding their business ideas. The YES programme is aimed at equipping young people with the requisite skills and knowledge to be self-employed by starting and managing their businesses.
About Bank of Industry
The Bank of Industry Limited (BOI) is Nigeria’s oldest, largest and most successful development financing institution. It was reconstructed in 2001 out of the Nigerian Industrial Development Bank (NIDB) Limited, which was incorporated in 1964. The bank took off in 1964 with an authorized share capital of 2 million (GBP). The International Finance Corporation which produced its pioneer Chief Executive held 75% of its equity along with a number of domestic and foreign private investors. Although the bank’s authorized share capital was initially set at N50 billion in the wake of NI...... continue reading
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BOI Youth Entrepreneurship Support Program
Aim and Benefits of BOI Youth Entrepreneurship Support Program
- 8 weeks of extensive online Entrepreneurship and Business Management training which can test participants’ understanding and track their progress.
- 5 days of in-class Entrepreneurship and Business Management training covering the following five (5) modules:
- The business idea (value proposition and competition analysis)
- Business model (how will the business make money)
- Sales and marketing
- Running a successful business (ethics, compliance, operations, etc.)
- Financial planning
- Financing of the businesses by BOI under its SME Cluster initiative.
Requirements for BOI Youth Entrepreneurship Support Program Qualification
Eligibility Criteria
The choice of projects to be eligible for the scheme includes the following:
- Projects in any of the 40 identified SME product clusters.
- Projects with unique and innovative products/ideas.
- Value-adding projects that fall within the scope of Small Enterprises excluding trading activities.
- Projects whose promoters have participated in the capacity building aspect of the YES-Programme.
- Project ideas developed by the National Youth Service Corps members and recommended by the NYSC Directorate.
Loan Requirements
- Debenture over the assets of the company or specific charge over the equipment (present and future).
- Deposit of original NYSC certificate and higher educational certificate (Ordinary National Diploma, Higher National Diploma or University Degree) with BOI. This will be subject to the certificate being certified by Background Check International (BCI).
- Acceptable alternatives to Degree/HND certificates: Final Statement of Results, Success Letter, Testimonial or other verifiable evidence of course completion.
- Two (2) external guarantors acceptable to BOI who must belong to any of the following categories:
- Senior Civil Servant (Level 7 and above).
- Bankers (not below the level of Banking Officer), and must have been confirmed by current employer.
- Professionals i.e. Medical Doctors, Lawyers, Accountants, Engineers, etc.
- Senior Staff of reputable quoted Companies, International Oil Companies, Telecommunications Companies (GSM providers) etc.
- Elected public servants/administrators.
- Reputable entrepreneurs with ongoing entities and registered business names.
- Clergymen.
Application Deadline
Not Specified
How to Apply
For more details,visit BOI website
