The Enterprise Development Centre (EDC) has announced a strategic partnership with International Energy Insurance (IEI). This collaboration aims to develop a comprehensive curriculum and provide specialized training on Risk Management and Insurance, alongside creating detailed case studies for real-world application. The announcement was made at the EDC office in Ajah, Lagos, during the commissioning of the newly rebranded EDC Studio, sponsored by IEI.
Key Objectives of the Partnership
Development of Comprehensive Curriculum:
Focused on risk management and insurance tailored to SMEs.
Specialized Training:
Providing practical knowledge and tools to help SMEs navigate risks and secure their future.
Real-World Case Studies:
Creating detailed case studies to demonstrate the application of risk management strategies.
Enhancements to EDC Studio
IEI’s sponsorship has facilitated the rebranding and upgrading of the EDC studio, transforming it into a hub for interactive learning and professional development. This enhanced facility will better serve SMEs, providing them with the resources needed to thrive.
Statements from Key Figures
Dr. Olawale Anifowose, Director of Programme and Partnership, Enterprise Development Centre, Pan-Atlantic University:
“This partnership signifies a significant step towards empowering SMEs with essential knowledge and tools to navigate risks and secure their future. EDC and IEI are committed to fostering a robust support system for small and medium enterprises through this innovative educational initiative.”
Reflecting on the ENDSAR protests, Dr. Anifowose highlighted the importance of insurance: “During those protests, many businesses were destroyed, and a large number of those businesses that had their stores, properties, and business destroyed were not insured. It was that period that the Enterprise Development Center took it upon itself to ensure that we deepen our relationship with an insurance company that has a clear product and clear strategy for how small businesses can welcome and start to embrace risk management strategies that can help them to get back on their feet whenever there is a mishap.”
Mr. Olasupo Sogelola, Managing Director/CEO, International Energy Insurance (IEI)
Highlighting the vast number of SMEs in Nigeria, Mr. Sogelola noted: “Study has shown that over 59.1 million Nigerians work in small and medium enterprises, and over 41 million SMEs and MSMEs have been registered. It is a viable sector to look after.”
He further emphasized the comprehensive nature of the partnership: “Apart from providing a dedicated insurance product and risk management strategies for these SMEs and MSMEs, the partnership also extended to the Clear Pay Microfinance Bank, our sister organization providing funding support to them.”
This partnership between EDC and IEI aims to significantly bolster the risk management capabilities of Nigerian SMEs, ensuring they are better prepared to handle potential risks and recover swiftly from any adverse events. Through enhanced education, specialized training, and practical resources.
