Development of an e-learning portal on financial literacy

An e-learning platform on financial literacy and entrepreneurship for entrepreneurs and micro, small and medium enterprises MSMEs has been developed.

The platform called SMEabi was designed by the Pro-Poor Growth and Promotion of Employment in Nigeria – SEDIN program (a program of the German Development Cooperation, GIZ) in collaboration with the Federal University of Technology, FUT Minna.

A statement from Access to Finance Advisor, SEDIN Programme, GIZ, Jennifer Seydel acknowledges that MSMEs are key to mitigating the rising unemployment rate in Nigeria, which has reached 35% and is expected to rise further to 40%.

He says business trends show that around 20% of MSMEs fail in the first year, half succumb to business failure within five years and by year 10 only around 33% survive.

According to the statement, the chances of business survival can be improved through access to comprehensive and professional business support tools for the business owner and his employees.

He says the aim of PMEabi is therefore to equip Nigerian entrepreneurs with the knowledge to improve their earning potential, business ability, insight and ultimately make smart financial decisions.

The statement says the courses currently available under SMEabi include: Basic Financial Literacy, Advanced Financial Literacy, Financial Literacy Trainer and Entrepreneurship Fundamentals.

The e-learning portal is free and available on desktop and mobile devices from

Written by Annabel Nwachukwu; Editing by Abdullahi Lamino

Louis R. Hancock