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World MSME Day 2021: Enhanced financing for Nigerian small businesses

In the last few years, the 27th of June, has been a day for reflection by governments, stakeholders, policymakers and all those concerned with small businesses, due to the vital role they play in every economy. Undisputedly, Micro, Small and Medium-sized Enterprises (MSMEs) play important roles in the global economy. According to the International Trade Centre (ITC) the joint agency of the United Nations and World Trade Organization dedicated to supporting the internationalization of small businesses, MSMEs account for more than 90 percent of all businesses and around 70 percent of jobs worldwide.
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This category of businesses also stimulates economic growth and provide employment for large sections of society including women, young entrepreneurs, and poor communities. In recognition of the importance of MSMEs in encouraging innovation, creativity and decent work for all, as well as achieving the goals of the 2030 Agenda for Sustainable Development, the United ....

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Popoola Now CBAN Chairman

Popoola Now CBAN Chairman
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Digital lenders and the data they need in 2021

Olumuyiwa Olowogboyega
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Digital lenders have always depended on data to make instant loan decisions. This year, startups are offering these lenders more data points
Access to credit is important in any economy because it is how households are able to build wealth and take advantage of opportunities. Being able to borrow money at affordable interest rates is one way you can take a chance on a business idea.
Beyond building wealth, access to credit is a safety net for households that experience economic shocks like job losses or ill health. Despite the importance of credit, data from the Financial Inclusion Secretariat shows that formal sector credit penetration as a ratio of the adult population in Nigeria was below 5.3% in 2017. ....

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