Minister Backs $500bn African Fashion Economy Target, Says Sector Can - - MSME Africa

The Minister of Art, Culture, Tourism and the Creative Economy, Hannatu Musawa, has called on African governments to support efforts to grow the continent’s fashion economy from $30bn to $500bn, citing its potential to create millions of jobs, particularly for women and young people. This was contained in a statement

The programme is open to businesses that meet the following requirements:

• Operate an active business in Nigeria or be willing to register one.
• Have a clear business model and demonstrable growth potential.
• Show consistent transactions and revenue activity.
• Require funding of up to ₦10 million for business growth.
• Have an existing or newly opened Sterling Bank business account.

The programme’s website states that more than 500 MSMEs have been empowered across six industries.

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The programme is designed to support micro, small and medium-sized enterprises (MSMEs) with financing, mentorship and business development opportunities to strengthen their operations and expand.

According to the programme website, selected businesses will benefit from a combination of grant funding and structured loans, alongside digital tools, market access and banking support through Sterling Bank.

The initiative also provides 12 months of business support and mentorship to participating enterprises.

Interested businesses can apply through the official TBH MSME Pitchaton application portal.

Applicants are expected to review the eligibility criteria and terms and conditions, provide their business information, submit their pitch and indicate their funding requirements.

The programme offers Nigerian MSMEs an opportunity to access financing and business development support to expand their operations and improve their competitiveness.