By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Times ReportersTimes Reporters
  • Home
  • News
  • Politics
  • Business
    • Economy
  • Sports
  • Entertainment
  • About Us
  • Bookmarks
Search
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Reading: NASME applauds FG’s new economic ties with Cote D’Ivoire
Share
Sign In
Notification Show More
Latest News
Anambra 2025: Quash your Anambra dream, Markets leader advices APC faithful
News Politics
Nigeria Education Group Subcommittees Unveil Major Reforms to Revamp Education Sector
News
COREN, ICRC partner to enforce engineering regulations in PPP projects
Business Infrastructure News
NCAA Sanctions Kenya Airways Over Consumer Protection Violations
Aviation Business News Travel/Leisure
NCDMB Promotes Obinna Ezeobi PhD Ag. GM Corporate Communication
Business Media News Oil & Gas
Aa
Times ReportersTimes Reporters
Aa
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Search
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Have an existing account? Sign In
Follow US
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Times Reporters > Business > NASME applauds FG’s new economic ties with Cote D’Ivoire
BusinessNews

NASME applauds FG’s new economic ties with Cote D’Ivoire

Publisher
By Publisher Published December 8, 2023
Share
4 Min Read
SHARE

By Linus Aleke, Abuja

The Nigerian Association of Small and Medium Enterprises (NASME), has applauded the latest move by Federal Government (FG), to expand economic relations with Cote D’Ivoire.

The Ministry of Foreign Affairs, has organized Nigeria – Cote D’Ivoire Business Round Table and Exhibition, as part of side line activities for the meeting of ECOWAS Authority of Heads of State and Government to improve trade balance between the two economies.

- Advertisement -
Ad image

Speaking exclusively to our correspondent in Abuja, the Zonal Vice President of NASME, Dr. Nura Bello, said, the major challenge that confront the association is access to market, most especially the African market.

He said: “This bilateral agreement between Nigeria and Côte d’Ivoire, will be a very good platform for our SMEs to have access to the Côte d’Ivoire market. This is an international trade, so, we are also pushing forward to see our members export their product to African market in preparation to the take off of Africa continental free trade agreement”.

Dr. Bello however, noted that the number one thing the association wants government to do is funding, stressing that access to capital for business start up is actually very difficult and those already in business that want to expand don’t have the required capital and banks will always request for collateral.

SMEs by their nature, he said don’t have collateral, therefore, the association want the government to make it very easy for SMEs to access finance at cheaper interest rate to enable them expand their businesses and meet up with international request for their products.

He further explained that some of the challenges in accessing loan from the Bank of Industry is the request for guarantors.

According to him, “A loan within N10 million threshold, can only be accessed with two guarantors. SMEs find it difficult to meet this condition because the two guarantors must be high profile persons, such as level 14 officers and above in the civil service. Our members don’t have access to these big men that can stand for them as guarantors. Secondly, Bank of Industry do not give micro loan like N50 thousand or a little above. There are some of our members that just need little capital to start but the least Bank of Industry is giving is N500 thousand, so it is a challenge to our members”.

Dr. Bello, appealed to government to create a funding or grant specifically for micro enterprises, saying that these are people that need support, and they cannot take loan from commercial bank because of the interest rate.

He said: “Give them money as start up but before you give them the money, train them on how to actually do their businesses so that they can have business skills. They may have technical skills to carry on their business but they may not be successful because they don’t have the business skills. So, train them on entrepreneurship skills, give them start up capital and ensure that they are in association where they will be monitored, nurtured to grow and mentored”.

He concluded that if the new start ups are in a group, they would be able to work together as a team and develop their businesses.

Like this:

Like Loading...

Related

You Might Also Like

Anambra 2025: Quash your Anambra dream, Markets leader advices APC faithful

Nigeria Education Group Subcommittees Unveil Major Reforms to Revamp Education Sector

COREN, ICRC partner to enforce engineering regulations in PPP projects

NCAA Sanctions Kenya Airways Over Consumer Protection Violations

NCDMB Promotes Obinna Ezeobi PhD Ag. GM Corporate Communication

TAGGED: NASME, Nigerian Association of Small and Medium Enterprises

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Publisher December 8, 2023
Share this Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Telegram Email Copy Link Print
Share
Previous Article Norrenberger Turbo Fund: Oversubscription by 156% Show Of Investors’ Confidence -Tony Edeh
Next Article Beware, Fake Naira Banknotes In Circulation, CBN Cautions Public
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe
Telegram Follow

– Member of –

- Advertisement -
Ad imageAd image

Latest News

Anambra 2025: Quash your Anambra dream, Markets leader advices APC faithful
News Politics May 9, 2025
Nigeria Education Group Subcommittees Unveil Major Reforms to Revamp Education Sector
News May 9, 2025
COREN, ICRC partner to enforce engineering regulations in PPP projects
Business Infrastructure News May 9, 2025
NCAA Sanctions Kenya Airways Over Consumer Protection Violations
Aviation Business News Travel/Leisure May 9, 2025

You Might also Like

NewsPolitics

Anambra 2025: Quash your Anambra dream, Markets leader advices APC faithful

May 9, 2025
News

Nigeria Education Group Subcommittees Unveil Major Reforms to Revamp Education Sector

May 9, 2025
BusinessInfrastructureNews

COREN, ICRC partner to enforce engineering regulations in PPP projects

May 9, 2025
AviationBusinessNewsTravel/Leisure

NCAA Sanctions Kenya Airways Over Consumer Protection Violations

May 9, 2025
Times ReportersTimes Reporters
Follow US

© 2024 Times Reporters | Deigned by AuspiceWeb Graphics. All Rights Reserved.

  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
Join Us!

Subscribe to our newsletter and never miss our latest news!

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?
%d