By Goodluck Ikiebe/Kunle Adeliyi.
The Nigerian government has welcomed the establishment of Forum of Micro, Small and Medium Enterprises Business Management Organisations as an engine of growth and private sector led initiative to set up SME Bank.
Vice President Yemi Osinbajo commended the initiative in his message to the official launch of the body at Pavilion Hall of Raw Materials Research and Development Council (RMRDC), Maitama, Abuja.
Professor Yemi Osinbajo, who was represented by Dr. Akin Soetan, Special Assistant to the Vice President, said, it is a private sector initiative that will give ample opportunity for the government to focus more on processes and provision of conducive environment for the MSME to prosper and grow.
The Vice President further encouraged the sector to be well positioned to take advantage of the Africa Free Trade (AFCTA) in view of the comparative advantage the nation enjoys over other African countries in WTO trading services category.
He, however, called on the financial Institutions in the country to address the issue of funding confronting the sector.
Prof. Osinbajo gave a pat on the back for the 8point agenda of the FORUM, saying it will strenghten and make the sector viable.
In his welcome address, Dr. Olajide Akinyemi, Chairman, Board of Trustees, FORUM, thanked the Federal and State governments for their continuous support to MSME growth through their interventions.
He appealed to Development partners and foreign embassies to assist the sector on capacity building and export trade.
In his keynote address at the event, Dr. Ken Opara, Executive Director, Fidelity Bank, said that his bank has taken interest in MSME for many years and made service to the SME its core focus in view of the significant role they play in the nation’s economy.
He added that his bank has also made access to loan facilities smooth for SME. For instance, he stated that there are loans of up to N20 million without collateral, while digital loans up to N3 million which can be accessed through smart phones from home will soon be launched.
On the issue of gender balancing and inclusive business environment for women Enterpreneurs, Dr. Opara said that the bank has “HerFidelity”, a proposition to serve the women community via four pillars: Capacity building, Enterpreneurship Encouragement, Access to Finance and Health and Wellness.
The bank, however, signed an MoU with the FORUM at the occasion.
Also speaking, the Chairman, Technical Committee on Inauguration, Mr. Joseph Attah, highlighted an 8 point agenda of the MSME Forum in order to enhance operations of all stakeholders.
These include: a 5yr National Strategy for MSME growth and development, robust database, institution of structure for implementation and progress reports, establishment of MSME bank and sustainable Communication strategy.
There were goodwill messages from Ministries, Departments and Agencies of government as well as other stakeholders including Ambassadors from Cuba and Turkey.
There was a panel of discussants involving bankers and Small Scale Enterpreneurs, which looked into the topic: Bridging the Gap between MSME and Funding, moderated by Mrs Rose D. Gyar, a member of the Board of trustees.
The Inauguration ceremony also featured exhibition of local products by MSMEs in Nigeria.
