FCMB female staff proposes zero-interest rate loans for SMEs’

Women entrepreneurs in Nigeria who desire affordable and convenient funding to boost their respective businesses, can now do so. This is because Women in Business at First City Monument Bank Limited (FCMB) are set to launch a proposition that offers zero-interest rate on loans to small and medium scale enterprises (SMEs). The development is in […]

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AFRINVEST

Syntaxis Africa, Afrinvest partner on ₦12 bln private equity fund for SMEs

Syntaxis Capital Africa has partnered with Afrinvest Asset Management Limited to launch a ₦12 billion private equity fund, designed to meet the funding needs of Small and Medium Enterprises (SMEs) in the country including selected countries in Sub-Saharan Africa. The growth fund would cover a variety of sectors including manufacturing, agri-processing, healthcare, education and non-banking […]

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BoI, States disburse ₦20 billion to SMES in one year

The Managing Director of Bank of Industry (BoI), Olukayode Pitan, has disclosed that the partnership between the Bank and some state governments have enhanced lending to small and medium sized enterprises (SMEs) across the country to the tune of over ₦20 billion in 2018. Speaking with THISDAY in an interview in Cairo, Egypt, Pitan stated […]

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20 SMEs get Life Progress Booster’s ₦6m grant

Twenty Small and Medium Enterprises (SMEs) have received N6 million boost from Life Continental Lager Beer development initiative tagged, Life Progress Booster. Portfolio Manager, Mainstream Lager and Stout Brands, Emmanuel Agu reiterating the brand’s commitment to the initiative said the scheme is designed to help SMEs grow by providing non refundable grants to entrepreneurs. He […]

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Diamond Bank disburses ₦1 billion to SMEs

Diamond Bank Plc has announced its disbursement of over ₦1 billion under the cash flow-based small and medium enterprise (SME) lending scheme. The scheme which was launched in January 2017 in partnership with the Women’s World Banking (WWB), has a strategic focus on cash flow, net asset capacity, character and business proficiency of SMEs as […]

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Jaiz Bank to commence disbursement of $20m SMEs fund

The Managing Director, Jaiz Bank Plc, Hassan Usman has said the bank would soon begin the disbursement of the $20 million facility for operators in the Small and Medium Enterprises sector of the economy. He said this on Thursday in Abuja during a chat with journalists. The bank had in March signed the agreement with […]

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Access Bank restates commitment to funding SMEs

Access Bank Plc has restated its commitment to the provision of funds and loans to Small and Medium-scale Enterprises. The Group Managing Director/Chief Executive Officer, Herbert Wigwe, while speaking at the seventh German-Nigerian Business Forum in Lagos, said the bank recognised that the greatest problem facing SMEs was access to finance. He said the bank […]

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Nigeria takes SMEs, innovators, others to ITU Telecom World 2018

Conscious of the reality that small, medium-sized enterprises (SMEs) entrepreneurs and start-ups are critical drivers of economic growth, Nigeria will this year emphasise their participation in the International Telecommunications Union (ITU) Telecom World, which holds in Durban, South Africa, from September 10 to 13. Apart from SMEs, innovators and their innovations are also slated to […]

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Thousands of SMEs, start- ups to exhibit at 2018 Mega City Fair

Thousands of Small and Medium Enterprises (SMEs) and start-ups in Lagos are expected to showcase their innovations and businesses at the 2018 edition of Megacity Fair. The trade fair, which will hold at the weekend in Lagos, is currently in its second edition and aims to bring together start-ups and SMEs closer to a ready-made […]

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nigerian banks

Nigeria SMEs fund manager is a weak link

Mr. Adetokunbo Kayode, President, Abuja Chamber of Commerce and Industry (ACCI), says the management of the funds for Small, Medium and Enterprises (SMEs) by banks in Nigeria is a weak link in the financing of small businesses. Kayode said this during his inauguration as the 10th President of the Chamber in Abuja on Tuesday, January […]

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Afreximbank

Afreximbank raises $260 million to support SMEs via Islamic bond

The African Export-Import Bank (Afreximbank) has raised around $260 million via three sharia-compliant facilities to support the Small and Medium-scale Enterprises in the region, as African markets gradually open to Islamic finance. The Cairo-based Afreximbank, which was founded by African governments and other investors in 1993 and focuses on trade finance, obtained a $100 million […]

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Fidelity Bank disburses ₦2.5 billion to 500 SME operators

No fewer than 500 Small and Medium operators across the country have benefitted from the Central Bank of Nigeria (CBN) ₦220 billion Micro, Small and Medium Enterprises Development Fund (MSMEDF), as Fidelity Bank Plc says it has disbursed the sum of ₦2.5 billion to operators in the sector. Mr Nnamdi Okonkwo, the bank’s Managing Director/ […]

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