September 15, 2020

N75b MSMEs Palliative Fund Disbursement Begins

The federal government has officially flagged off the N60 billion Micro, Small and Medium Enterprises (MSME) Survival Fund and Payroll Support Scheme. During the official flag-off held in Abuja on Thursday, the Minister of State for Industry, Trade and Investment, Ambassador Mariam Katagum, said the two schemes were part of the government’s N2.3 trillion Nigeria […]

September 10, 2020

DBN Provides Funding, Risk Sharing To MSMEs

The Development Bank of Nigeria is a development finance institution focused on alleviating financing constraints faced by Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria through providing financing, partial credit guarantees and technical assistance. In addition, DBN loans have a longer tenure than other commercial loans, which are usually short-term. To start or grow […]

August 13, 2020

What Policy Changes, Other Challenges Hold For MSMEs in 2020 – Chief Economist, PwC

The year 2020 started with the announcement of the increased VAT rates, moved on to the coronavirus pandemic and its attendant challenges, the global oil crisis and its implications on national revenue, and just after the easing of the lockdown, the recent increase in fuel price. What do all these connotations mean for Micro, Small, […]

August 6, 2020

Rotary To Boost 1,000 MSMEs With N50m Loan

The Rotary District 9110, Nigeria, covering Lagos and Ogun states, has projected to set aside N50 million as micro credit scheme to empower 1,000 Micro, Small and Medium-scale Enterprises (MSMEs).  However,  the club has empowered 40 MSMEs with N2 million to enable them to boost their businesses and create more wealth. Making a statement at […]

August 1, 2020

MSMEFG Rolls Out Criteria’s for N2.3 trillion survival funds for MSMEs

The Federal Government has announced plans to roll out a N2.3 trillion stimulus package and survival fund for Micro Small and Medium Enterprises (MSMEs) to stay afloat amid the economic challenges imposed by the pandemic. The survival fund includes payroll support for three months, and guaranteed off-take scheme among others, all under the National Economic […]

July 29, 2020

ICSAN Harps On Innovation As Panacea For MSMEs Survival

The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), has described innovation as a pathway to survival of Micro, Small and Medium-scale Enterprises (MSMEs) amid the COVID-19 pandemic. They asserted that with the volatility associated with the pandemic, MSMEs could not be ignored in the business ecosystem. The Institute said they must be committed […]

July 28, 2020

Microfinance Banks Seek N250bn To Support MSMEs

The National Association of Microfinance Banks (NAMB) has asked the Central Bank of Nigeria (CBN) to provide a special N250 billion intervention fund for micro, small and medium-sized Enterprises (MSMEs) in the country to support the ongoing economic recovery agenda of the government. The outgoing President of the association, Mr Rogers Nwoke, made the call […]

July 17, 2020

MSMEs Need Credit Guarantees to Survive– DBN

The Development Bank of Nigeria (DBN) has described Credit Guarantees Schemes (CGS) as  veritable instruments to alleviate the credit constraints faced by micro, small, medium and enterprises, MSMEs. This was the highlight of presentations  by industry experts at the just concluded DBN Webinar Series with the theme,   “Risk Sharing: A Key Driver for Increased […]

July 16, 2020

Abia State MSMEs Seek Authentic Business Database For Nigeria

Small scale business owners in Abia State have called on the Federal Government to create an enabling environment for the development and growth of micro entrepreneurial activities.  They said the provision of an authentic database for Micro, Small and Medium Enterprises (MSMEs) would assist the operators in reaching out to their colleagues in other locations […]

July 9, 2020

Rotary Plans N50 million Loans For MSMEs To Boost Trade

Up to 40 Micro, Small & Medium Enterprises (MSMEs) will benefit from a N2 million facility each, offered by the Rotary District 9110, Nigeria, covering Lagos and Ogun states, respectively. The facility is to enable them to boost their businesses and create more wealth in value chains trading. According to Rotary, the loan disbursement to […]

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