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SMEDAN Marks The International Day For Micro, Small and Medium Enterprises (MSMEs)

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SMEDAN Marks The International Day For Micro, Small and Medium Enterprises (MSMEs)

The 2019 World MSMEs day is a day in which thought leadership; insights on how to bridge the gaps in finance; recommendations. Also, it renders practical tools that will lead to greater investment in small businesses are provided.

‘Big Money to Finance Micro, Small and Medium Enterprises’ is the theme of the 2019 World MSMEs day celebration. Even more, it focuses on increased financing for SMEs for achieving sustainable development.

Mr. Monday Ewans, the Director, Enterprises Development Promotion; at the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN); represented the Director General of the agency, Dr. Dikko Radda, at a press briefing to kick start this year’s celebration.

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However, Ewans said the 2019 MSMEs Day is expected to raise awareness around the need for greater investments in Micro, Small and Medium Enterprises in developing countries.

Also, he mentioned that access to affordable finance is a major challenge to the operations and sustainability of MSMEs in Nigeria.

Even more, Ewans said lack of collateral is a major challenge in accessing the N220 billion CBN MSMEs funds and other government funds.

According to Ewans, MSMEs need access to affordable funds for growth and said that the agency’s Conditional Grant Scheme (CGS) and One Local Government One Programme (OLOP) are ways through which they have been providing funds for MSMEs across states.

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The Oyo State Coordinator of Small & Medium Enterprises Development Agency of Nigeria (SMEDAN), Mrs. Iyabo Ojogede also spoke at an event organized in Ibadan to mark the 2019 World MSMEs Day.

However, Ojogede urged MSMEs to grow by taking advantage of the Federal Government’s interventions.

Ojogede said “There is a lot to benefit from SMEDAN; BOI; CBN; and other Federal Government agencies on access to funds. The important thing is to know and follow the guidelines and comply appropriately.

“At SMEDAN, we cultivate and facilitate MSMEs through programmes such as the  One Local Government One Product initiative and the Conditional Grant Scheme where we assist with N50,000 loans and grants” Ojogede added.

Finally, to know more about the international day for MSMEs, visit www.smefinance.org

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