Dipo Olowookere
By Dipo Olowookere
Stakeholders in the Medium, Small and Micro Enterprises (MSMEs) sector in Nigeria are getting ready for the maiden edition of the Panafrican MSME Academy informational webinar.
The event is slated for September 3, 2020, at 10am and will have participants from the 36 states of the federation and the federal capital territory. The webinar is tailored specifically for MSME operating in Nigeria and will provide tips on access to finance and building a digital presence.
The programme provides support to African MSMEs and is structured in three pillars, namely: the MSME Academy, MSME Marketplace, and MSME Financing Support Programme to be delivered through an MSME Digital Platform.
The MSME Academy aims to build the capacities of MSMEs across Africa through a combination of relevant content library, a network of institutions specialized in MSME support such as incubators and accelerators, and a community of peers, mentors, and advisors; the MSME Marketplace is a consolidated marketplace of marketplaces, enabling MSMEs to access e-commerce, procurement and alternative financing opportunities across the continent; while the MSME Financing Support Program is a scheme that will bring together financial institutions, guarantee funds, and other institutions to reduce the cost of risk for lenders to deliver capital to MSMEs at scale.
The objective is to radically expand access to finance by aggregating smaller financial institutions such as micro-credit institutions and credit unions that have access to micro-enterprises, standardising their processes, and building trust in their capabilities.
The MSME Digital Platform is a one-stop-shop for all MSMEs across Africa to access all these three programmes which jointly address MSMEs’ challenges with access to capacity building, markets, and capital.
It was gathered that the event is put together by the AUDA-NEPAD 100,000 MSMEs by 2021 (100K MSMEs) programme launched by the African Union Development Agency – AUDA-NEPAD in partnership with the Ecobank Group.
The programme aims to provide easy access to practical training and resources on financing opportunities in various countries, how to build a digital presence for businesses and how to adapt business operations in the era of the COVID-19 pandemic.
The Panafrican MSME Academy offers free access to market intelligence, a host of mentors with a diverse experience while assisting with access to funding opportunities.
