SMEDAN, NEXIM to assist MSMEs with access to finance | Dailytrust

SMEDAN, NEXIM to assist MSMEs with access to finance

DG SMEDAN, Dr. Dikko Radda

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Nigeria Export-Import Bank (NEXIM) have expressed readiness to assist Micro, Small and Medium Enterprises (MSMEs) with access to finance.

Speaking in Abuja on Wednesday at the official certificate award ceremony to the successful learners of MSME Digital Academy, the Director-General of SMEDAN, Dr Dikko Umaru Radda, said SMEDAN would prioritise MSMEs with the requisite knowledge for running enterprises with several products, including access to finance.

He said training is essential for running a successful business and COVID-19 had necessitated online solutions and training.

“The agency, as the apex government agency for facilitating the development of the MSME sub-sector in Nigeria, is partnering with a credible private sector institution, Sapphital Learning Limited, to host and run the MSME Digital Academy,” he said.

The Managing Director of Nigerian Export-Import Bank (NEXIM), Abubakar Abba Bello, said MSMEs are important to any economy having the largest employer of labour and contributing 50 per cent to the Gross Domestic Product (GDP).

He said one key challenge of SMEs was that they did not have access to enough funds, adding that was why NEXIM established an MSME desk to guide them.

He expressed support for Sapphital on funding for MSMEs with products for export.