TheNewsGuru

Tag: SME

  • Imo State strikes the big one with digital SME – By Karmal Shittu

    Imo State strikes the big one with digital SME – By Karmal Shittu

    By Karmal Shittu

    The European Digital SME Alliance has announced a relationship with the Imo State Government, which will see the community members of the Alliance leverage on the pool of IT skills in Imo to enhance the activities and operations of its members.

    A Twitter message on X (@EUdigitalsme which celebrated the development said: “DIGITAL SME is glad to announce a partnership with Imo State (Nigeria) focussing in key actions in #skills development with specific planning of mentoring and #digital skills training. It marks an additional step in DIGITAL SME’s commitment to empowering #SME.”

    The Memorandum of Understanding with Imo State Government, Nigeria, according to DIGITAL SME, will cover the following areas: promote the uptake of advanced digital solutions and skills in Imo State; key actions in the areas of knowledge sharing  and skills development, with specific planning of mentoring programmes and digital skills training; and additional step in DIGITAL SME’s commitment to empowering SME innovators to lead digital transformation in Imo State and beyond, championing a human-centric to technology and standards globally.

    This is a good call for Imo State, whose governor, Hope Uzodinma, was massively misunderstood in the days running up to the elections last year, when he had boasted that his state would soon start to export some of its citizens abroad, without being able to tie such development to the SKillUp Imo IT skills programme that was training an impressive number of Imo youths for the local and international IT skills market.

    An excited Dr Oliver Grun, President, DIGITAL SME, said, “The partnership with the Imo State Government, Nigeria, will open up more opportunities for European Digital SMEs who will be able to benefit from insights into tech market dynamics in West Africa and access to local talent.  Cooperation between SMEs from like-minded regions is essential for an inclusive and innovative digital economy that benefits everyone, and this is just the beginning of our worldwide collaboration efforts.”

    Almost accepting the same enthusiasm from Grun, Dr Chimezie Amadi, Imo State Commissioner for Digital Economy and E-Government, whose of SKillUp Imo resonated in the governor ab initio declared that “this collaborative partnership with the European Digital SME Alliance will foster innovation and entrepreneurship while creating new market opportunities for Startups and innovators in Imo State.”

    Areas of special interest, according to the Memorandum are as follows:

    Freelancing Programme – will allow European companies to access a talent pool of digital professionals from Imo State, while providing these professionals with opportunities for professional development. This initiative seeks to contribute to the socio-economic of local communities in Imo State, and will prioritise available to local female workforce.

    Mentoring Programme – will link European businesses with young people in Imo State, providing them with insights and digital careers and knowledge necessary to succeed in the national and international markets.

    Digital Skils Training – is recognised as a means of increasing the quality of life in Imo State by equipping young people with relevant digital skills that can connect them to new job opportunities arising from the global digital economy. To this end, Digital SME will share best practices on upskilling and reskilling young people interested in working in the digital sector and through a train-the-trainer approach, support the creation of Digital Skills training hub.

    The European Digital SME Alliance, according  to Wikipedia, is a community of small and medium ICT enterprises (SMEs). Its members are national sectoral digital SME associations in 30 countries and regions in the EU and neighbouring countries, all together it associates more than 45, 00 SMEs. Established in 2007, the organisation was known then as Pan European ICT & eBusiness Network for SME.

    This is obviously a big haul for Imo State whose cardinal programme, SKillUp Imo, has trained 20, 000 Imo youths in two Cohorts, 5,000 were picked for further training by their tech partners. It will serve as a catchment area for DIGITAL SME. The SKillUp Imo project benchmarks the much bigger dream, Imo State Economic Agenda (IDEA) 2022 – 2026.

    “This agreement is an additional step by DIGITAL SME in collaborating with international partners, as part of DIGITAL SME’s  commitment to support efforts to establish a productive dialogue with public and private stakeholders and advance a democratic and human-centred approach to technology and ICT standards around the world,” the statement further explained.

    It is my hope that this development will further encourage Governor Uzodinma to commit more funds into building a tech future for the young people of Imo State who can now nurture a future in several worlds.

     

    Karmal Shittu writes from Minna, Niger State.

  • SMEs, customers laud Polaris Bank for sponsorship of Fashion Souk event

    SMEs, customers laud Polaris Bank for sponsorship of Fashion Souk event

    Polaris Bank, Nigeria’s leading Digital Retail Bank, has received immense commendation from Small and Medium-sized Enterprises (SMEs) and customers for its invaluable sponsorship of The Fashion Souk event. Without a doubt, this commitment to enterprise growth has earned appreciation and testimonials from fashion enthusiasts, industry experts and style icons at the just-concluded Fashion Souk 2023, held at Harbour Point, Victoria Island, Lagos.

    The 2023 Fashion Souk which held last Saturday and Sunday, July 8th and 9th 2023, surpassed all expectations with its dynamic display of innovative fabric designs, leather works, trendsetting collections and fashion concepts amidst a cross-section of brands and discerning audiences. Over 150 SMEs and 5000 fashion enthusiasts converged at the event.

    Key highlights of the Fashion Souk included:
    Designer Exhibitions: Attendees had the exclusive opportunity to shop directly from a carefully curated selection of designers at the pop-up boutiques. From avant-garde designs to classic ensembles, the Fashion Souk catered to every fashion taste.

    Networking Opportunities: The event fostered an environment of collaboration and networking, enabling designers, buyers, stylists, and fashion enthusiasts to forge meaningful relationships.

    Beauty and Lifestyle Exhibitions: Complementing the fashion extravaganza, the event featured exhibitions of beauty and lifestyle products. Attendees were able to explore a range of cosmetics, skincare, and wellness brands, leather works, enhancing their overall fashion experience.

    Adebimpe Ihekuna, Group Head, Products & Market Development Group of Polaris Bank, in responding to comments by reporters, stated that, “Polaris Bank remains committed to the growth of SMEs in the country and we are proud to have partnered with Eventful to host this remarkable event. The Fashion Souk has not only highlighted the incredible talent in Nigeria’s fashion industry but also contributed to its growth and development.” “As a Bank, we have supported numerous SMEs with loan facilities and will continue to support them through innovative product offerings and easy to access loans on VULTe digital bank without a need for collateral, branch visits and at competitive interest rates”, she added.

    Adebimpe also used the occasion to disclose an exciting news that the Fashion Souk will be heading to Abuja in October to avail SMEs in the fashion industry operating in the FCT, Middle belt and Northern Region the opportunity to showcase their offerings.

    Yewande Zacchaeus, the Chairperson of Eventful Limited, the promoters of The Fashion Souk said, “I am thrilled with the overwhelming response and support received for the Fashion Souk. Polaris Bank’s partnership has been instrumental in making this event a resounding success.”

    Tunde Lawal, a customer at the fashion souk summer sale noted “I applaud Polaris Bank for their dedication to the fashion industry and for bringing such a remarkable event to life. The assembly of diverse fashion items under a roof is remarkable. Its indeed an experience I’ll relish for a long time.”

    Polaris Bank continues to earn accolades as Nigeria’s digital Bank of the year and a leading financial brand in innovation and digitization. The Bank’s digital banking platform, VULTe provides an ecosystem for individuals, SMEs, and corporates to do transactions, access loans at competitive rates and be empowered for the next level.

    Polaris Bank was adjudged Digital Bank of the Year in 2021 and 2022 by Business Day’s Banks and Other Financial Institutions (BAFI) Awards. It also emerged as the best MSME Bank because of its ability to use technology to enable bottom-up support to the MSME sector.

  • Google announces new initiatives to support African SMEs

    Google announces new initiatives to support African SMEs

    Google on Wednesday  announced new initiatives to support small retail businesses and offered 1,000 scholarships to business owners in Africa.

    Juliet Ehimuan, Google Country Director for West Africa, said in a statement that it was part of a month-long commemoration of International Micro, Small, and Medium-sized Businesses (SMB) Day in June.

    Ehimuan said the programmes commemorating the International SMB Day reaffirms Google’s dedication to ensure that small retail businesses on the continent acquire the necessary digital technology, tools and training to thrive and be more resilient.

    She said this includes a one-hour virtual training event, tagged: the ‘Shopping Small Business Summit’, aimed at helping SMB owners develop skills and tools to compete online.

    She said that topics would include e-commerce trends and digital marketing, open to all who register at g.co/events/shoppingmail.

    According to her, Google has also partnered with Coursera, a well known open online course provider, to develop an online career certificate digital marketing and e-commerce for SMEs, and is offering 1,000 scholarships to Africans who wish to attend.

    “E-commerce presents an opportunity for small businesses in Africa to reach new customers and grow.

    ‘’Through the digital marketing, e-commerce career certificates, specialised trainings and 1,000 scholarships, we want to be able to assist small businesses in Africa gain the expertise to connect online, expand their customer base and scale up.

    ‘’The certificate course is the latest in a series of initiatives aimed at preparing participants for entry-level jobs,’’ she said.

    According to her, this month also sees the debut of ‘Local Opportunity Finder’, a new tool that evaluates a Google Business Profile and makes personalised recommendations for changes.

    Ehimuan said that the tool evaluates changes or recommendations that a business owner might make to enhance how their business profile looks to consumers in Google Search.

    The director also said that free, one-week-long Hustle Academy in June would focus on essential skills that would help small and medium-sized retail businesses (SMBs) build the skills they need to grow.

    According to her, Africa’s growing young population and urbanisation present huge expansion opportunities for small retail businesses.

    She said South Africa had almost 2,000 shopping malls covering over 24 million square metres.

    Ehimuan said that wholesale and retail were the third largest contributors to Nigeria’s GDP, with more than 90 per cent of the industry made up of informal merchants.

    According to her, while Kenya, with an e-commerce market growth rate of 44 per cent in 2021, has seen a steady rise in the number of outlets over the last five years.

    Ehimuan said that e-commerce markets in Kenya and Nigeria increased by 40 per cent and 30 per cent, respectively, in 2021, while online sales in South Africa increased by 66 per cent from 2019 to 2020, reaching more than $1.8 billion.

    “As more consumers on the continent continue to search for goods and services online, it is critical that small retail businesses learn how to better harness online tools for growth,” Ehimuan said.

    According to her, Google’s ongoing commitment to supporting small businesses in Africa is visible through initiatives such as Google Hustle Academy,  Google Business Profile, Market Finder and Market Kit.

    Google’s mission is to organise the world’s information and make it universally accessible and useful.

  • SMEs commend Polaris Bank, Facebook on capacity building initiative

    SMEs commend Polaris Bank, Facebook on capacity building initiative

    A cross-section of business owners who participated in the just-concluded capacity building programme organised for SMEs have commended Polaris Bank and social media giant Facebook for giving them the free opportunity to acquire new skills on how to grow their businesses, leveraging technology.

    The virtual digital marketing seminar, which had over 5000 SMEs as participants in its phase 1 and 2 ran for days in each session. The programme is in fulfilment of the bank’s commitment to empower Nigerian SMEs. The workshop was designed to help them explore and learn new ways to grow their businesses, especially in the era of COVID-19 pandemic, which has further emphasized the need for digitization of business processes.

    The sessions dwelt on how to build an online presence with Facebook, the discovery of tools to drive business, systemic ways on how to find customers on Instagram, and subsequently information on how to Create Facebook Adverts.

    Commenting on the benefits of the empowerment programme, the Group Head, Products and Markets Development of Polaris Bank, Adebimpe Ihekuna, disclosed that the bank’s move was to equip SMEs on how to leverage social media tools to generate marketing leads and sales.
    Ms Adebimpe said, “The free empowerment training and partnership is part of Polaris Bank’s effort to contribute to driving SMEs businesses in the digital space.”

    She further noted, “For SMEs to remain relevant in their line of business, Entrepreneurs must position to level up with the challenges of the digital world to scale to the next level”.

    On his part, the founder/CEO at DIGIVATE 360, Segun Oyetunji, partner to the bank on the “Boost With Facebook Programme” spoke of his delight about the on-going success of the partnership with Polaris Bank on boosting the digital capacity of SMEs in Nigeria over the years.
    “We are immensely grateful to Polaris Bank for the opportunity to collaborate!”

    Speaking after the session, Adedeji Adewale, a detergent manufacturer from Akure, Ondo State, was full of commendation for the bank. He revealed that the wealth of knowledge provided during the training is comprehensive enough to understand the dynamics of digital business.”
    He also stated the need for more digital marketing training.

    Another participant, Kadiri Mohammed, a shop owner at Balogun market in Lagos praised Polaris Bank and Facebook for making it possible for her to acquire knowledge on “social media marketing.”

    “This programme which attracted the participation of the SME community in Nigeria drew attendance from the 6 geopolitical regions of the country.

    Polaris Bank is a future-determining bank committed to the delivery of industry-defining products for individuals and businesses.

  • Fidelity Bank To Bridge Funding Gaps With SME Funding Connect Series

    …Schedules Lagos Edition For August 7, 2019

    Fidelity Bank Plc, has pledged to continually support the country’s Micro, Small and Medium Enterprises (MSMEs) by building structures, forging partnerships and instituting platforms that help address the funding constraints which small businesses currently grapple with. Fidelity Bank CEO, Mr. Nnamdi Okonkwo disclosed this in Lagos on Wednesday during a global press conference, announcing the recommencement of its erstwhile Regional SME Conference Series which has been repackaged to focus totally on funding for SMEs and has been aptly named “the Fidelity SME Funding Connect Series”.

    Okonkwo who was represented by the Bank’s Executive Director, Lagos & South-West, Mrs. Nneka Onyeali-Ikpe re-emphasized the fact that the bank’s long-running support for the growth and development of small businesses in Nigeria stems from the recognition of SMEs as critical agents of economic development. According to him, whilst MSMEs have continued to help drive the foregoing through greater utilization of raw materials, employment generation, linkages with bigger industries, etc, they, however, continue to be held back from reaching their full potentials by a number of internal and external challenges which include poor infrastructure, poor business management capacity, poor access to funding, etc.

    Against this background, that Fidelity Bank intends to use “the “the Fidelity SME Funding Connect Series” to deepen the conversations/engagements around solving the funding issues confronting MSMEs in Nigeria by connecting participating existing and growing businesses with local and international fund providers, in major brand showcasing events across the country” he stated.

    Starting with the Lagos edition, the Fidelity SME Funding Connect, Lagos, on August 07, 2019, the Fidelity SME Funding Connect train will make stops in key policy/commercial hubs across the country such asPort Harcourt later this year and Kano, early 2020. The Fidelity SME Funding Connect, Lagos like the other planned upcountry editions, will be a one-day event focused on funding for MSMES in an exhibition and conference style platform, targeted primarily at local businesses who operate in key sectors such as Manufacturing, Healthcare, Agriculture, Education, Technology, Entertainment and lifestyle.

    Also speaking at the occasion the bank’s Divisional Head, Managed SMEs Division Osaigbovo Omorogbe explained that the one-day event will also be fully digitized as it will be powered by a dedicated app through which participants will register to attend the event. In addition, he also noted that the event which has PricewaterhouseCoopers (PWC)working with the bank as technical partners, will feature a pitch style grants competition for select MSMEs with an aggregate grant sum of N20M to be given out to deserved winners by the bank. According to Omorogbe, Fidelity SME Funding Connect, Lagos is” unique on account of its single targeted focus on funding for MSMEs and the multi-dimensional opportunity it will give to participating MSMEs to interact/engage with fund providers such as angel investors, private equity firms, venture capital firms, development finance institutions (DFIs), etc who will be participating”.

    Fidelity Bank Executive Director, Lagos & South West, Mrs. Nneka Onyeali-Ikpe closed the parley reiterating that helping MSMEs build funding and other key capacities is a long term undertaking for the bank. “We have over the years taken advantage of the myriad intervention funding schemes typically offered at single or early double digit interest rates by local and international development finance institutions such as the CBN, BOI, DBN, AfDB, etc, for the benefit of MSMEs. “We will certainly continue to do more in this regard”, she said.

  • Postmaster-General calls for postal service reforms

    The Postmaster General of the Federation, Mr Bisi Adegbuyi, has called for the amendment of postal laws to separate regulation from operation to enhance the development of the postal sector.

    He made the call on Wednesday in Abuja in his address at the Senate Public Hearing on the Nigerian Postal Service Act 2004.

    He said that the postal sector was challenged by ‘disruptive technologies’ that are forcing institutions to rethink and re-order their processes to meet the demands of an ever changing customer needs.

    Postmaster-General calls for postal service reforms
    PostmasterGeneral of the Federation, Mr Bisi Adegbuyi

    “The postal sector is perceived to be the most affected as a result of the direct substitution of its core mandate by the internet which in reality is the post office virtualized.

    “Apart from the huge employment potential in the postal sector, the existence of post offices in all nooks and crannies of the country places NIPOST at an advantage over other organizations in terms of spread.

    “NIPOST is well positioned to assist government reach out to the populace particularly the rural dwellers whose role in economic transformation remains critical.

    “The diversified activities in the postal network will not only engender employment for the teeming youths but will also create opportunities for Small and Medium Enterprises,’’ he said.

    Adegbuyi said that the debate for the amendment of the bill started in 2004 when the Bureau of Public Enterprises conducted feasibility study on the best way to reposition the postal sector in Nigeria.

    According to him, the result of the study is the recommendation of enactment of a new law which was contained in the bill before the senate 13 years after.

    The NIPOST boss said the amendment of the law would among other things, `corporatize the public postal operator and transform it into a modern innovative business entity in accordance with international best practices.

    “It will promote the provision of modern, universal, efficient, reliable, affordable and easily accessible services of the widest range throughout Nigeria; create a framework for financial and digital inclusion.

    “It will engender national security through verification, authentication and validation of addresses, encourage local and foreign investments in the Nigerian postal industry among other benefits,’’ he said.

    Adegbuyi explained that most countries including Nigeria’s West African neighbours had amended their postal laws to separate regulation from operation.

    He appealed to the senate to create the enabling law that would make it possible for the corporatization of NIPOST into a diversified service provider.

    He added that corporatization would enable NIPOST rake in revenue for sustainability and to build infrastructure for integration, innovation and inclusion.

    In his contributions at the hearing, Mr Okay Uba, General Secretary, Association of Nigeria Courier Operators (ANCO) kicked against some provisions of the bill which stated that operators should pay 2.5 per cent of their turnover and one per cent of their profit.

    Uba declared that the prevailing economic condition in the country would adversely affect courier companies and urged the Senate to look into the issue.

    Earlier, Sen. Gilbert Nnaji, Chairman, Senate Committee on Communications, said it was necessary to repeal and re-enact the 2004 law regulating postal operations in Nigeria.

    Nnaji, co-sponsor of the bill, said the amendment would also create opportunity for `vital legislation’ that would bring the postal reform to global standard of practice.

    He promised that the senate would do its best to ensure that Nigeria benefits from the new law.