SMEDAN, Partners Sign MoU to Strengthen MSME

James Emejo in Abuja

The Small and Medium Enterprises Development Agency (SMEDAN) has signed a Memorandum of Understanding (MoU) with Sapphital Learning Limited and Zenith Bank in a bid to among other things empower Micro Small and Medium Enterprises (MSMEs) to contribute to job creation and poverty alleviation in the country.

The partnership will also strengthen SMEDAN’s operations, and help it realize one of its mandates to generate revenue and support youths who are mostly unemployed.

Speaking during the signing of the tripartite agreement which is further aimed at strengthening the SME Digital Academy, Director-General/Chief Executive, Small and Medium Enterprises Development Agency (SMEDAN), Mr. Wale Fasanya, 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.”