#MSME'S on my mind!
Honoured to be a part of the 5th DBN ( Development Bank of Nigeria Plc ) Annual Lecture Series which held on Wednesday 25,September at the Transcorp Hilton Hotel,Abuja
Driving the conversation on "Empowering Nigerian MSMEs in a Challenging Global Landscape" was led by the host Tony Okpanachi, Ph.D, MD,Development Bank of Nigeria Plc and Keynote speaker Dr. Nneka Onyeali-Ikpe (OON) MD,Fidelity Bank PLC
Had engaging discussions with bright minds on the panel moderated by Prof. Joseph Nnanna and other panelists including Nkemdilim Uwaje Begho F.SCGN ,Abba Aliyu , Oluwatobi Ajayi FICA ,
Lent a voice ,speaking on how policy frameworks/fiscal incentives can enable innovation of high growth technology companies given their potential.
Noted the recent enactment of the Nigeria Startup Act in October 2022 and it's support to the startup ecosystem
in areas such as capacity-building, ease of business registration/obtaining licences,tax incentives, access to funding, support for research and development etc
Stressed the need for increased collaboration between NITDA (secretariat) and private sector in the implementation of the startup up bill.
Expressed the importance of continuos investment in the technology backbone required to enhance startups operations and productivity.
Highlighted the peculiarities of
Tech Startups as companies that are hypergrowth focused and achieve compounded growth rates of 40% during the periods of rapid expansion/scaling. Patient capital is required!
Butressed the need for the finance sector to take a closer look at the private equity/venture capital space an asset class that is highly untapped in Nigeria.
Incubators and accelerators such as Founder Institute help with the de-risking of Tech startups making them fundable/investment ready to receive non-dilutive/debt/dilutive funding/blended finance.
In closing a veteran banker, Mohammed Mustapha Bintube (Independent Executive Director) and Chairman ,Jaiz Bank Plc ,provided comfort in his vote of thanks thanking stakeholders and challenging SME's to keep building whilst making a commitment to further support.
Highest point was the interaction with the MSMEs at the end of the program and a walk-through the exhibition booths viewing the different innovations on display.
Nigeria's Got Talent!
Thank you DBN for ....Financing Sustainable Growth!
#MSME's
#Economicdevelopment #nationbuilding