Following on from these initiatives, we continued our collaborative venture with ExxonMobil Foundation in 2019 in Nigeria. This partnership reached more than 12,000 women entrepreneurs across Nigeria through a three phased learning journey which supported women entrepreneurs through the HerVenture app before they proceeded onto the Road to Growth. to build business management and financial literacy skills.
Following this success and building on lessons learnt, we continued our collaboration with Exxon Mobil Foundation once again in 2020. Last year, despite the impacts of COVID-19, we supported an additional 10,000 women entrepreneurs in Nigeria through an enhanced Road to Growth programme including the HerVenture app, a seven-week blended learning course and an advocacy and leadership pilot training This training was designed to strengthen women entrepreneurs’ capacity to identify, challenge and change barriers to women’s economic empowerment in their local context.
In 2021, we are delighted to be continuing with our fourth iteration of Road to Growth in Nigeria. The project aims to provide a learning journey experience to women entrepreneurs to enhance the business skills and boost their confidence in becoming successful owners of thriving enterprises. In addition to the seven-week blended learning course, R2G graduates will have the opportunity to take part in the Foundation’s Access to Finance training, to support women entrepreneurs to successfully secure the finance needed to grow their business
We will support 100 women entrepreneurs as follows:
100 women will be selected to undertake financial literacy and investment readiness training over seven weeks. 50 women will undertake a blended learning curriculum, with an online training course supplemented with face-to-face training, supporting peer-to-peer learning. 50 women will undertake a fully digital learning experience, with the face-to-face element of the programme being transferred online, rendering the programme more accessible to a wider range of women entrepreneurs.
The programme will also present the women with networking opportunities within the group, which serve as highly successful professional and personal support systems, as demonstrated by experiences of previous cohorts of participating women.
Our mobile learning app HerVenture also remains available for women entrepreneurs in Nigeria to download for free. The app has been developed specifically for women who own micro, small and medium sized enterprises in low and middle income countries. It has supported over 41,000 women since its launch in 2018 to support entrepreneurs with the growth of their businesses. HerVenture is currently available to download, through the App Store on iOS and the Google Play Store on Android, in Nigeria, Kenya, Vietnam, Indonesia and South Africa.
Established in 2003, the Enterprise Development Centre (EDC) is an education centre that offers business development services to micro, small and medium enterprises (MSMEs), including training, advisory services, mentoring, experts-in-residence, network meetings, and access to markets and information. EDC’s clients include the World Bank Group, International Finance Corporation (IFC), Goldman Sachs and local small and medium enterprise banks in Nigeria.
Road to Growth: A model for boosting women’s business success
Published: October 2018
Our Road to Women’s Business Growth initiative, developed in partnership with the ExxonMobil Foundation, aims to boost the financial literacy and business management skills of women owners of small businesses. This report seeks to add further insight to the critical discourse evidencing effective interventions to advance women’s economic empowerment. Drawing on the findings of an independent evaluation of the Road to Growth pilot in Nigeria, conducted by the London School of Economics’ Innovation Co-Creation Lab, it presents encouraging evidence that our model delivered significant impact for women entrepreneurs.