The PAC Foundation, the CSR branch of Pan-African Capital Holdings, recently conducted a three-day training program in Lagos. The focus was on imparting crucial skills to young entrepreneurs, covering areas like financial advisory, business market creation, and finance management. Facilitators included experts in digital marketing and business analysis.
Mr. Chris Oshiafi, the Group MD/CEO of Pan African Capital Holdings, stressed the early-stage training of young entrepreneurs, highlighting the scarcity of mentorship in the challenging landscape faced by SMEs in Nigeria. He underlined the necessity for solid foundations in finance, management, and market creation for small businesses.
The PAC Foundation’s core objective is to engage and provide essential training for young entrepreneurs, acting as financial advisors when the need arises. Oshiafi emphasized that this training is just the initial step, with plans to extend the Foundation’s reach to more young entrepreneurs nationwide.
He underscored the pivotal role of SMEs in combating youth unemployment, promoting economic self-sufficiency, and driving domestic consumption while attracting foreign exchange earnings.
Agbons Igiewe, CEO of Ziza Digital and a facilitator, highlighted challenges faced by young entrepreneurs in Nigeria, including acquiring the right customers and effective product marketing. She emphasized planning and marketing strategies as vital for success.
Understanding the target audience, delivering value through exceptional customer service, and ensuring efficient turnaround times were emphasized as critical aspects that can distinguish small businesses from larger counterparts.