LEAP Africa forum unveils financing options for SMEs

LEAP Africa, a leadership development organization, in partnership with Airtel Nigeria, Sterling Bank, Stanbic IBTC Bank, Coca-Cola, and AirFrance KLM has unveiled various financing options available to aid growth of small businesses in Nigeria.

Specifically, LEAP Africa, at its 11th edition of the CEOs Forum themed, “Attracting financing for your business: Strategies and Opportunities”, noted that the forum was designed to explore initiatives to address challenges in the sector.

LEAP Africa’s Executive Director, Iyadunni Olubode said the leadership development organisation would continue to support small and medium enterprises (SMEs) to become better sustainable through the platforms such as the forum.

Speaking at the Forum on business trends in Nigeria, financial expert and Managing Director/Chief Executive Officer, Financial Derivatives Company, Bismarck Rewane said: “Every company must consider its vulnerability in dealing with three variable factors; the crude oil products price, the minimum wage review and the exchange rates with international market”.

Executive Director of Stanbic IBTC, Yewande Sadiku, spoke about financing options from a banker’s perspective and alluded to risk, collateral and credit worthiness for SMEs.

“Entrepreneurs take very great risks, Often times, they go very broke or very rich as a result of what they have invested, and it depends on whichever way the tables turn,” she said.

Other entrepreneurs who shared their experiences at the forum include Bukky George of HealthPlus and Tayo Oviosu of Paga Tech.After the Forum, LEAP hosted an investment readiness workshop for business owners seeking more information about financing options especially in agriculture, technology and real estate.