Experts task SMEs on long-term finance via capital market
By Itohan Abara-Laserian
Lagos, April 29, 2021 Stakeholders in the capital market have identified the Nigerian capital market as the best platform for long-term capital for startups and Small and Medium Enterprises (SMEs).
They gave the submission at a webinar hosted by the Nigerian Exchange (NGX) Ltd. on âCapital Raising for SMEs through the Stock Exchangeâ on Thursday in Lagos.
According to them, the capital market provides the best avenue for the SMEs to access long-term capital at a reduced rate when compared with borrowings from the bank.
Mr Humphrey Ngonadi, President, South-East Chamber of Commerce, Industry, Mines and Agriculture, said during his keynote address that enlightenment on access to finance was crucial for private sector growth.
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The Oniru of Iruland, Oba Wasiu Lawal, has called on traditional authorities and professional bodies to do their best to support governments in their efforts to create a better society.
According to a statement, Lawal made the call at the opening ceremony of the business boot camp for entrepreneurs in Iruland, Lagos State last week.
The monarch, speaking to the participants, was quoted as saying, “While we expect the government to lead the way in finding lasting solutions to all the socioeconomic problems, we cannot, in all honesty, expect governments to solve all of them. That necessitates back-up or complementary efforts from other power centres such as professional bodies and traditional authorities.”