•NASME advocates business support services
•Formal education not same as financial literacy BoI
By Yinka Kolawole
Nigeria’s hope of quick recovery from recession and significant increase in economic growth is under threat from micro, small and medium enterprises (MSMEs) sector which accounts for 48 percent of the nation’s Gross Domestic Product (GDP), as 33.6 million small businesses (62 percent) struggle with the challenge of poor financial literacy.
Nigeria has about 41 million MSMEs which are businesses with less than N100 million annual turnover.
These businesses however contribute about 48% of the nation’s Gross Domestic Product (GDP), accounting for 96% of businesses and 84% of employment in Nigeria.
Daily Post Nigeria
Published
Female entrepreneurs now have more reasons to smile and succeed with a discounted financing solution known as the “LSETF-W Initiative Loan” specially created by the Access Bank W Initiative program in partnership with the Lagos State Employee Trust Fund (LSETF) to provide low-interest loans for female businesses to flourish in the state. L-R: Governor Babajide Sanwo-Olu; Herbert Wigwe, CEO – Access Bank; Ayona Trimnell – Group Head, ‘W’ Initiative, Access Bank during the launch of Lagos State Employee Trust Fund (LSETF).
The “LSETF- W Initiative loan” is a financing scheme for female traders/MSME’s operating in Lagos state regardless of their state of origin. This means applications from non-indigenes who are resident in Lagos and own at least 50% ownership in either start-ups, micro-enterprises, or small and medium enterprises will be accepted for consideration.
FIRSTBANK boosts education with funding solutions for schools
On
Kindly Share This Story:
First Bank of Nigeria Limited reiterated its support for schools through an array of educational based products and solutions.
The bank in a statement said that the products and solutions are targeted at enabling the acquisition of various facilities to boost the continuous expansion and improvement of the educational sector.
It added that it also has bespoke products which empower parents and guardians to meet the educational needs of their children.
The bank’s educational products and solutions include the FirstEdu Loan, Operational Vehicle Loan, Term Loans for constructing new sites and extension of existing sites, Personal Loan Against Salary (PLAS) and FirstAdvance which enhances Parents/Guardians’ capacity to pay their wards’ school fees.
First Bank of Nigeria Limited said it is supporting schools with an array of educational-based products and solutions targeted at enabling the acquisition of various facilities to boost the continuous expansion and improvement of the educational sector.
In addition, the bank said it has bespoke products which empowers parents and guardians to meet the educational needs of their children.
According to a statement, the bank’s educational products and solutions include the FirstEdu Loan, Operational Vehicle Loan, Term Loans for constructing new sites and extension of existing sites, Personal Loan Against Salary (PLAS) and FirstAdvance which enhances Parents/Guardians’ capacity to pay their wards’ school fees.
TODAY
File Photo
First Bank of Nigeria Limited said it is supporting schools with an array of educational-based products and solutions targeted at enabling the acquisition of various facilities to boost the continuous expansion and improvement of the educational sector.
In addition, the bank said it has bespoke products which empowers parents and guardians to meet the educational needs of their children.
According to a statement, the bank’s educational products and solutions include the FirstEdu Loan, Operational Vehicle Loan, Term Loans for constructing new sites and extension of existing sites, Personal Loan Against Salary (PLAS) and FirstAdvance which enhances Parents/Guardians’ capacity to pay their wards’ school fees.