Thursday, February 25African Business News
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Tag: Facebook

Facebook cushions COVID-19 impact, grants N500m to Nigeria’s SMBs

Facebook cushions COVID-19 impact, grants N500m to Nigeria’s SMBs

Growth & Insight
Social media platform, Facebook, has announced a ₦500-million grant to support 781 small and micro businesses in Nigeria, as part of its $100 million Global Grants Programme, announced earlier this year, which aims to support 30,000 SMBs in over 30 countries. Facebook said the move is aimed at stimulating economic recovery following the effects of COVID-19, to help empower and extend a lifeline to local small business owners who have been most affected. The US-based technology firm said the grants will be administered and managed by Deloitte in partnership with the FATE Foundation and Afrigrants. According to Facebook, it will be provided as a combination of cash and ad credits to help small businesses as they rebuild, re-engineer, and recover operations during this challenging ye...