ACCI, SMEDAN Partner on Funding Forum for SME

Abuja Chamber of Commerce and Industry (ACCI) delegation led by the Executive Director National Chamber Policy Centre (NPAC) of the Chamber, Mr. Chidiebere Onwumere paid a courtesy call on the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) seeking partnership for the upcoming SME event, “The Funding Forum” jointly owned by ACCI and Centre for Strategic Enterprise Development (CSED).

The five-man delegation was received by the Director General Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr. Olawale Fasanya and his team.

Mr. Onwumere appreciated the DG while lauding the existing relationship between ACCI and SMEDAN. “Your agency both in the past and present has been supportive of our programme. You played major roles in our 1st SME Conference and Exhibition and other events of the Chamber, hence, the reason why we are here again.”

Mr. Onwumere who stated that ACCI is partnering with CSED to host TFF 2023 so that we can have a robust programme that will benefit the SMEs in the area of funding also requested that the agency open their SMEs database to be invited for participation.

SMEDAN DG lauded the initiative behind the programme slated for 27th and 28th June to mark the United Nations SME Day added that it is a very good idea while stating that if you put 10 SMEs together and ask them their major challenges, their response would be, the problem of funding.

“The idea is very good, but we have to identify how you want us to come in and the role we will play. We will support this initiative but let us have specific roles you want us to play at the event.”

He directed the officer in charge of SMEs, Mr. Ewa to set up a two-man committee to meet with the delegation to find out how they can come in.

The representative of the CSED, Mr. Divine Freeman explained some of the activities for the two-day event to include Equity panel (venture capital and equity funding), Grant panel (development and innovation grant), Fintech and Credit Infrastructure and Regulations panel.

He also stated that there would be funding master class for SMEs as the even comes in three layers; Opening, Funding for SMEs and Solutions adding that the target is to close $2 million deal within 48 hours for SMEs and additional $20 million targeted post event deals to finance business working capital, expansions, capital investments, new product developments, startups and others.

TFF is expected to attend to the needs of businesses seeking a variety of business funds.

Olayemi John-Mensah
ACCI Media/Strategy Officer

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