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Tag: SMEs

  • N/Delta Group empowers 1,600 SMEs

    N/Delta Group empowers 1,600 SMEs

    By Ogenyi Ogenyi,Uyo

    The Niger Delta Youth Professionals, NDYP, has said it has empowered more than 1,600 Small and Medium Scale Businesses in the region with 0.5M grant each to support and increase the capacities of their businesses.

    It said the organization created over 4,922 direct and indirect jobs via the beneficiaries of the grant and trained more than 2,304 business owners on various entrepreneurship skills with the NDYP on it’s own empowering more than 200 business owners.

    Convener of the Niger Delta Micro Small and Entreprises Summit, Mr Moses Siasia who made this known at the 3rd edition of the summit in Ikot Ekpene weeknd said the gesture was with support from the Central Bank of Nigeria (CBN), the Nigerian Content Development and Monitoring Board (NCDMB) and the Niger Delta Developement Commission,NDDC.

    He said the Nigerian Young Professionals Forum,NYPF, a larger body incorporating the NDYP has also through it’s advocacy increased it’s membership to over two million and spread around 15 countries of the world.

    With focus on “Building the Culture of Entreprenuership Compositeness Beyond” and earlier summits held in Port Harcourt and Asaba, Siasia who doubles at the Chairman of the NYPF and the Niger Delta Young Professionals (NDYP),
    said the initiative was meant to change the narrative by helping and empowering young people in the region ro achieve their dreams by engaging in productive activities.

    “We want our young people who are entrepreneurs to understand that the future is theirs, and that the future is entrepreneurship. The world today is diverting from hydrocarbon. We are talking about Energy Transition, Climate Change. These are where the world interests are driving to, so we must conform to modern realities. This is why we are doing this to reshape the entrepreneurial culture in the region.”

    He regretted that youths in the region have been marginalized over the decades with deprivation while the region has nothing to show after decades of contributing marginally to the growth of the economy.

    He cautioned young people to consider exploring the Social Media to promote their brands and businesses, rather than jumping on it as a tool to abuse political office holders.

    Siasia said in his quest to devleope and expand his business he has been to over 60 countries while his staff strength has risen to over 480 staff and tasked youths in the region with business dreams not to be detered by initial challenges associated with new and growing enterprises.

    While calling for a change of business mindset for the youths of the region, the convener tasked governments in the region to develop a framework that would guide and support aspiring and intelligent business minds in the area.

    Guest Speaker at the event,Ebimoboere Enyiekpemi whose lecture was anchored on Entrepreneur Beyond Oil restated the need for a return to Agriculture due to increasing problems and change in climatic conditions.

    Enyiekpemi, who is also the CEO of Afritropic Farming and Agro Services Ltd, while sharing her story urged youths in the region to consider venturing into agriculture and tap from the benefits.

    She maintained that although farming resources remain available in Nigeria agro business would require passion,self investment,consistency, resiliance,focus and intellectual knowledge to thrive.

    In a goodwill message, Interim Administrator of the Presidential Amnesty Programme, PAP, Brig. Gen Barry Ndiomu charged youths to “rise above the entitlement mentality”, to set the stage for success.

    “If you rise above entitlement mentality, the sky will be too small to be your starting point. Everybody stands a chance,” he said, adding that the youths must begin to think out of the box and come up with innovative ideas.

    The interim Administrator who was represented by Musa Wilfred, PAP’s Head of Reintegration, thus advised the youths to heighten awareness, and take advantage of the current situation.

    Also in their separate goodwill messages, the Chief Executives of the NDDC, NCDMB and Providus Bank harped on the need for increased engagement and redirection of focus from government handouts to entreprenuership development among the youths of the region.

    Technical sessions at the summit focused on SMEs and entrepreneurship while special recognition and grants were given to young entrepreneurs who have brazed the trail in business development in the region.

  • FG Should Invest in SMEs, Not Infrastructure – Peter Obi

    FG Should Invest in SMEs, Not Infrastructure – Peter Obi

    Former Governor of Anambra State, Peter Obi, has decried the policy of the federal government which focuses more on the provision of infrastructure while allegedly neglecting the Small and Medium Enterprises (SMEs).

    Obi condemned such policy yesterday while speaking on Arise News network Morning Show programme.
    He said many countries that have tackled their problem did not use infrastructure as a prop to drive the economy.

    The vice-presidential candidate in the 2019 Nigerian general election asserted that poverty should not be seen as a scary thing; rather, he cautioned that what should be the focus is if the country is making wise and proper investment.

    According to him, “I have said it severally that SMEs drive the economy of every country. Poverty is something that is seen all over the world. It happened in China. Everybody is aware that China pulled over 400 million people out of poverty. It also happened in India, but in five years, they pulled over 200 million people out of poverty. It happened in Vietnam also.”

    He used Bangladesh as a case study of how any country can successfully drive its economy by investing in education and SMEs.

    Obi noted that as of 2008, the Bangladeshi GDP was $101 billion, the per capita was $753, while the debt was $50 billion, which represented 50 percent of the GDP size.

    The Peoples Democratic Party (PDP) vice presidential candidate in the 2019 elections stated that the Bangladeshi economy is presently worth over $300 billion while the per capita has jumped three-fold from $753 to over $2,000 and the national debt stands at $102 billion.

    Obi said: “Their debt has actually reduced because instead of being 50 per cent of their GDP, it is now about 30 percent. What happened? Bangladesh took the money to SMEs. Today, Bangladesh is the second biggest exporter of textiles in the world.

    “There are over 5,000 textiles in Bangladesh and they are making over $35 billion in textiles and textile materials, which is about what we are making from oil.

    “I checked that other countries have done the same thing. They throw money into SMEs, and also invest in education. They did not go on building more infrastructures.”

  • International; Ivorian Green Cluster of Small and Medium-sized Enterprises (SMEs) name African Development Bank 2020 Green Champion

    International; Ivorian Green Cluster of Small and Medium-sized Enterprises (SMEs) name African Development Bank 2020 Green Champion

    By Musa Isa Ahmed

    The Green Awards acknowledge and honor the actors that have made a significant contribution to the development of green SMEs

    Prize for the best technical and financial partner committed to promoting the green economy and supporting small and medium-sized enterprises (SMEs) toward a low-carbon transition.

    The prize was awarded on 30 July at the Green Awards, an initiative launched in 2019 under the sponsorship of the Ivorian Minister of the Environment and Sustainable Development Prof. Joseph Seka Seka, with support from the country’s Minister of Trade, Industry and Promotion of Small and Medium-sized Enterprises, Félix Miézan Anoblé.

    Despite the onset of the COVID-19 pandemic, the Green Cluster organized a follow-up event, which recognized the continuing importance of sustainable development, the green economy, and other measures to fight climate change.

    The Green Awards represent one pillar of the “Green Days” that were held virtually in Abidjan from 28 to 30 July. The other pillars are Green Talks, and a Green Marketplace.

    The Green Awards acknowledge and honor the actors that have made a significant contribution to the development of green SMEs and the emergence of a sustainable low-carbon green economy resilient to climate change.

    “As an innovative approach of building on SMEs’ resilience and commitment toward a post-COVID green and sustainable economy, the Green Days in Abidjan awarded the African Development Bank with a Green Award prize for their key contribution to the development of a green economy and green SMEs,” said Marc Daubrey, Green Cluster – CI President.

    Dr. Arona Soumaré, The Bank’s regional principal climate change officer, who attended the event said, “We are much honored to receive this Green Award. Enabling eco-innovative SMEs to take into account climate change risks and opportunities, is a key step toward achieving a green economy in the context of the post-COVID-19 recovery. For this reason, the African Development Bank is leading the way to strengthen the technical capacities of SMEs and is deploying a range of climate finance mechanisms to respond to their needs for both competitiveness and inclusive growth.”

    The Bank’s Climate Change and Green Growth department has provided ongoing technical support to the organization of the Green Days in the form of presentations and the mobilization of experts.

  • COVID-19: Visa Foundation commits $210m to support SMEs

    COVID-19: Visa Foundation commits $210m to support SMEs

    The Visa Foundation says it has committed 210 million dollars to two programmes to support small and micro businesses to address urgent needs from local communities following the spread of COVID-19.

    Mr Al Kelly, Chairman, Visa, said on Tuesday in Lagos that the support was in alignment with the foundation’s long-term focus on women’s economic advancement and inclusive economic development.

    Kelly, in a statement, detailed that the first programme of 10 million dollars was designated for immediate emergency relief to support charitable organisations on the frontlines responding to the COVID-19 pandemic.

    According to him, such include public health and food relief in each of the five geographic regions in which Visa operates.

    “As COVID-19 continues to unfold, communities are feeling the effects and need our immediate support.

    “As a global company that operates a very local business, we recognise this need.

    “We are also committed to the long-term recovery, and will continue to explore way to accelerate economic activity in line with our mission to help individuals, businesses and economies thrive,” he said.

    Kelly said the second programme was a five-year strategic 200 million dollar commitment to support small and micro businesses around the world, focussing on fostering women’s economic advancement.

    This action, he said, would expand the Visa Foundation’s long-standing support for small and micro businesses globally.

    “The funds from the Visa Foundation will provide capital to non-government organisations (NGOs) and investment partners supporting small and micro businesses.

    “Small and micro businesses are backbone of the global economy, accounting for more than 90 per cent of worldwide businesses and contributing 50 to 60 per cent of global employment.

    “There is a 300 billion dollars annual credit deficit in funding for women-owned small and micro businesses.

    “This is expected to grow given the recent economic turmoil unfolding due to COVID-19.

    “Now, more than ever, we must accelerate our support for small businesses on the frontlines driving economic growth.

    “As many small and micro business owners are women, there will be a ripple effect supporting women’s economic advancement.

    “We believe this is one of the most important ways to achieve gender equality, reduce poverty and foster inclusive economic development,” Kelly said.

    Also, Mr Graham Macmillan, President, Visa Foundation disclosed that through the 200 million dollars SMEs programme, the Visa Foundation would provide 60 million dollars in grants to NGOs dedicated to supporting small and micro business owners, many of whom are women, in every region where Visa operates.

    “The Visa Foundation will also allocate140 million dollars with investment partners that generate positive social and financial returns for small and micro businesses.

    “Two hundred million dollars in new financial resources demonstrates our continuing commitment to support small and micro businesses, with a focus on women’s economic advancement globally.

    “When women thrive, communities thrive. We know this matters now, more than ever as the global economy seeks to recover and rebuild,” Macmillan said.

    Visa operates in North America; Latin America and the Caribbean; Europe; Asia Pacific; and Central Europe, Middle East and Africa. (NAN)

  • Zamfara unveils empowerment scheme for 1, 000 SMEs

    Zamfara unveils empowerment scheme for 1, 000 SMEs

    Zamfara State Government says it has initiated empowerment programme to support 1, 000 Small Medium Scale Enterprises (SMEs) and petty traders under its Social Intervention Programme (Z-SIP).
    Mubarak Muradun, Secretary of the Z-SIP programme, made the disclosure while reviewing progress of the programme on Monday in Gusau.
    Maradun said that arrangement has been concluded to commence disbursement of N10 million to 1, 000 traders and SMEs. adding that Gov. Bello Matawalle had already approved the project expected to commence soon.
    “Each of the 1, 000 beneficiaries will received N10, 000 monthly under the programme.
    “The gesture aims at supporting small scale traders in the state to enhance their businesses.
    “This is inline with efforts of the present administration in the state to reduce poverty and unemployment among people of the the state,” he.
    He urged the beneficiaries to ensure effective utilisation of the monies to achieve the desired goals. (NAN)

  • NEPC to assist over 5,000 Southeast SMEs in non oil export

    NEPC to assist over 5,000 Southeast SMEs in non oil export

    The Nigeria Export Promotion Council (NEPC) says it will assist no fewer than 5,000 Small and Medium Enterprises (SMEs) in the South East to engage in non-oil exports.
    The Southeast Regional Coordinator of the council, Mr Arnold Jackson, disclosed this on Tuesday in an interview with the News Agency of Nigeria (NAN) in Enugu.
    Jackson said that the move was part of efforts by the council to boost diversification and promotion of non-oil exports in Nigeria.
    The coordinator said that the council would also develop templates that would help SMEs to add value to their products as well as ensure quality assurance.
    He said that though Nigerian products were doing well in the international market, entrepreneurs still needed to make their products more competitive and relevant.
    He however, said that Nigerian entrepreneurs needed to do better in the area of packaging their products, to get the desired attention at the international market.
    “There is need to sensitise the SMEs to meet the parameters for export. If you do not package your products very well to meet international standard and gain premium, you may not achieve much,” he said.
    Jackson said that the council had through its “one state, one product” initiative, made a deliberate effort to promote Nigerian products.
    He said that the initiative was a situation where each state would concentrate on the production of an item it had comparative advantage on.
    The coordinator said that the initiative which had zero oil plan had been mainstreamed into the Economic Growth and Recovery Plan of the Federal Government.
    “In this initiative, one or two products may be pushed as the mainstay with others as alternatives,” he said.
    Jackson said that if conscientiously implemented, the move was capable of improving the Internally Generated Revenue (IGR) of state governments.
    He however, said that state governments needed to provide the enabling environment for the initiative to thrive.
    According to him, Enugu State, Ebonyi, and Abia have comparative advantage in the production and export of cashew nuts, rice, and leather respectively.
    He also said that Anambra and Imo had comparative advantage in the production and export of rice and pineapple respectively.
    Jackson urged SME operators in the zone to form clusters for ease of attention and certification of their products under the initiative.
    “State governments have to get involved to drive this process of export, and by so doing, create employment opportunities for their people,” Jackson said. (NAN)