December 9, 2023

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NEPC Set To Break Funding Barriers For MSMEs

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A one day training workshop organized by Nigerian Export Promotion Council NEPC, targeted at building the capacity of micro, small and medium enterprises MSMEs, in developing attractive business proposals has been rounded up in Calabar.
The programme which took place at Adsuit Hotel in the Cross River State capital was geared towards equipping operators of MSMEs with tactful skills in scripting ideal business concepts capable of attracting investors or financiers to drive the vision to fruition.
Speaking at the event, the Executive Director and Chief Executive Officer of NEPC, Barr Ezra Yakusak stated that the move demonstrate the commitment of the agency in repositioning MSMEs to access available funding opportunities in order to accelerate economic growth.


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The NEPC boss who was represented by the Chief Trade Promotion Officer Calabar Area Office, Mrs. Slyvia Adeneye described MSMEs as key economic drivers vital in realising the core mandate of the agency which entails economic diversification through promotion of non oil exports
He decried the credit supply gap between financial institutions and MSMEs, noting that such scenario has frustrated efforts by the MSMEs in fulfilling their traditional role as viable mechanism for driving indigenous industries, creating employment opportunities,  boosting the development of local technology as obtainable in other countries.
According to him, “available feedbacks attribute the major limitation facing MSMEs and Exporters to inability to package credible business plan to guarantee access to numerous intervention funds and loan packages, this training is therefore tailored towards addressing this constraint”.

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Yakusak listed the targets of the training to include expounding best practices in developing acceptable business models to meet stringent requirements from funders, enhancing financial literacy to boost credit worthiness of borrowers as well as ensuring financial inclusiveness
In his welcome address, the Trade Promotion Officer Mr. Osas Demian expressed optimism that the workshop will go a long way in dismantling barriers militating against effective funding agenda for small scale businesses.
Declaring the workshop open earlier, Mrs. Gloria Odu of the Cross River Export Promotion Council  applauded NEPC for consistency in exploring viable options to boost non oil exports trade.


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In his remark, the lead resource person, Mr. Louis Ibok of Cross River State Microfinance and Finance and Enterprise Development Agency lauded the Initiative stressing that it would go a long way in assisting participants in developing and presenting smart business proposals capable of commanding needed reaction from local and global financiers.
The event featured good will message from the state Ministry of Commerce as well as presentations from Bank.
Participants who spoke expressed delight at the  development while pledging to maximize the gains.


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