SMEDAN to establish Rating Agency to ease SMEs Access to Loans

Dikko Umaru Radda, SMEDAN DG

The Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, has disclosed that it will establish a rating agency. This is in a bid to enable small scale businesses have easy access to loans.

This disclosure was made by the South-West Zonal Coordinator of SMEDAN, Mr Oluwagbenga Ogundeji during a stakeholders’ meeting with heads of small business groups and associations on the proposed rating agency in Osogbo.

He explained that the rating agency, which would be an agency within SMEDAN, would be known as ‘Small and Medium Enterprises Rating Agency’ (SMERAN).

According to him, it will be established in partnership with the Nigeria Export-Import Bank (NEXIM), the Bank of Industry (BOI) and others.

He said the forum with shareholders was to deliberate on how the Micro, Small and Medium Enterprises (MSMEs) could access cheap loan in line with federal government ease of doing business
He said the objectives of SMEDAN, when established, would be to provide investment information, advisory services and credit rating services.

He added that SMEDAN would also provide services to ascertain the credit worthiness of issuers of debt obligations and debt instruments.

Ogundeji stated that SMERAN would also play the role of advisers and consultants on problems relating to the administration and organisation of MSMEs.




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