The United Bank for Africa (UBA) Plc has restated its continuous commitment towards financing the Small and Medium Enterprises (SMEs) in Nigeria and across
The Group head for Retails Products and Sales of UBA, Prince Charles Ayewoh stated this at the official opening of the 37th edition of the Lagos Trade Fair 2023 organised by the Lagos State Chamber of Commerce and Industry with the theme, ‘Navigating Economic Challenges, Forging A Path To Prosperity’ held in Lagos State.
He noted that the vision of the LCCI has done well to transform the fair to become one of the major attractions of trade in Africa when it comes to SME attendance across the continent, saying, since its inception, it has grown to become the largest trade show in sub Saharan Africa and has attracted both national and international entrepreneurs from over 1,600 companies all over the world.
According to him, “in developing and developed countries alike, MSMEs are among the most effective tools to empower youth and women. They are key allies in implementing the 2030 Agenda and achieving the SDGs.“Yet, despite these remarkable contributions, the lack of adequate finance for MSMEs often prevents them from reaching their full potential. More than 200 million MSMEs in developing countries lack adequate financing.
“Initiatives to enhance access to finance for MSMEs need to go hand in hand with efforts to enhance skills and know-how across enterprises, to promote research and development and to put in place enabling infrastructure such as telecommunications, roads, power and ports.
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