Promoting Financial Inclusion, MSME Knowledge, and Access to Finance
The Bankers Committee has been mandated by the CBN to develop strategies that will increase access for SMEs to available financing. Several initiatives such as road shows and media campaigns have been organised in the past. Previously the committee embarked on a major initiative aimed at sensitizing the business community in some selected locations across the country with a view to ensuring SMEs are better structured and equipped with the knowledge to effectively manage their respective businesses and access funding. In 2020, the sub-committee implemented two webinars namely: SUSTAINABLE OPTIONS FOR SME GROWTH, and STIMULATING GROWTH FOR SMEs.
Both dealt on the array of topical issues that border on Covid-19 and, its negative toll on Micro, Small and Medium enterprises. Popular submissions are that businesses in third world countries are suffering immense downturns giving the context of the era - Nigeria not an exception. The situation worsens at the precinct of the country’s perennial socio-economic challenges coupled with sharp decline in oil prices, often creating gaps in appropriation. The webinars have enhanced participatory knowledge and strengthen capacity among spectrum of entrepreneurs cutting across industries.
In 2021, the sub-committee organized a 5 week Financial Literacy and Public Enlightenment Radio Campaign. Over the five week period, 15 panelists from DMBs, Development Partners as well as Successful Entrepreneurs strengthen the capacity among spectrum of entrepreneurs cutting across industries, through discussions based on the themes; Diaspora remittance and its impact on the Nigerian Economy, Sustainable Economic Growth through Value Addition & Exportation, Bouncing Back: Growing the Economy through Strong Value Chain, The Resilient Entrepreneur: Growth Strategies for Businesses, Post Covid, and Boom is Coming: Proactive Strategies for Businesses in Recovery. The Radio Series came in a perfect timing. Questions on post-campaign issues were raised by Listeners from different parts of the country and was adequately addressed by the seasoned panelists.
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