The Small and Medium Enterprises Development Agency (SMEDAN) has signed a Memorandum of Understanding (MoU) with Sapphital Learning Limited and Zenith Bank in a move to enforce Micro Small and Medium Enterprises (MSMEs) among other issues to enhance job creation and poverty alleviation in the country.
The partnership will also enforce SMEDAN’s operations, and help it achieve one of its mandates to generate revenue and support youths who are mostly unemployed.
Director-General/Chief Executive, Small and Medium Enterprises Development Agency (SMEDAN), Mr. Wale Fasanya, giving his remark during the signing of the tripartite agreement which is further aimed at strengthening the SME Digital Academy, said the arrangement will enhance the capacity of MSMEs as well as boost their access to funding.
He said, “We are very delighted because we have been looking for a number of banks to partner with. As much as we try to let MSMEs know that it’s not all the time that the problem is funding. But access to funds is also a major thing.
“We are highly delighted because we are now matching non-financial services with financial services. It’s been done in most countries of the world including Canada.”