Technology platform targets 3m MSMEs for growth, profitability
03 December 2020 |
4:08 am
In recognition of the immense importance of the Micro, Small and Medium Enterprises (MSMEs) to economic growth, Excite Enterprise, a fully digital Business Development, and Enterprise solutions provider, is hoping to help about three million small businesses scale up.
Micro, Small and Medium Enterprises (MSMEs)
In recognition of the immense importance of the Micro, Small and Medium Enterprises (MSMEs) to economic growth, Excite Enterprise, a fully digital Business Development, and Enterprise solutions provider, is hoping to help about three million small businesses scale up.
Excite Enterprise is designed to facilitate solutions to the many problems faced by SMEs in terms of low productivity, inability to access funds, legal difficulties involved in business registration and reaching the right customers through influencer marketing.
According to a Director at Excite Enterprise, Bolaji Okusaga, SMEs have faced a lot of problems in Nigeria especially in the area of funding and other logistics because the government cannot reach out to all of them, hence the urgent need for Excite Enterprise to lead the way to the development of the country’s economy through the proliferation of viable SMEs.
Okusaga, who is the CEO of Precise Platforms, noted that about 20 million small businesses are registered with the Corporate Affairs Commission (CAC), said Excite will deliver on its promise to revamp the MSME sector through its partnership with organisations across countries that are willing to support entrepreneurs in the country.
Excite Enterprise, he explained, provides innovative services to develop and deepen markets for MSMEs, thus providing entrepreneurs across the business space an opportunity to reach consumers; boost brand names, sales as well as competitiveness and improve services. These businesses will not only be able to access funding to scale up but they will also have entry to a bigger market.
A director at Excise Enterprise and CEO of Mobinet, Hong Kong, Andrew Otiko, asserted that the platform’s sole aim is to make life easy for SMEs through technology usage as he is of the firm belief that if the sector is well organised, there will be massive employment in the country.
He said, “Excite platform has the sole aim of using technology to make life easy for SMEs. It will also facilitate funding from some of our partners that are involved in providing grants and also facilitate other services that will mitigate challenges faced by MSME.
“The only way the economy can grow is by providing jobs to the citizenry which can only happen if we change the narrative for SMEs, if processes are in a place where things are simple, there will be massive employment opportunities for everyone if each SME can sustain its growth and recruit just one person.’”
1 hour ago
Data sourced from the Central Bank of Nigeria (CBN) suggest the economy may be relapsing to cash hoarding again a year after the chronic currency scarcity even as the proportion of currency in circulation that is held outside the banking system has returned to the pre-naira redesign level.
1 hour ago
African Development Bank (AfDB) President, Dr Akinwumi Adesina, said that Africa's immense economic potential is being undermined by non-transparent resource-backed loans that complicate debt resolution and compromise countries' future growth.
1 hour ago
President of the Commonwealth Association of Tax Administrators (CATA) and chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has called for increased capacity building to enhance tax administration processes among members of the global body.
1 hour ago
Stakeholders at the 2024 yearly lecture of the Chartered Institute of Bankers of Nigeria (CIBN) have called for the adoption of appropriate credit culture to pave the way for an enhanced loan securitisation process and availability of credit to the real sector.
1 day ago
In a significant strategic shift, LandWey Investment Limited, a leading player in Nigeria's real estate sector, is setting its sights on a public listing, following a bold attempt to acquire UPDC in 2020. According to a statement made available to the media on Wednesday, in Lagos, the property development company said the move marks a…
1 day ago
The Chartered Institute of Taxation of Nigeria (CITN) has warned political leaders against abuse of taxpayers' money, stating that collecting tax revenue from taxpayers without using it judiciously weakens the country's taxation system.
1 day ago
Oil-producing communities in Niger Delta have called for transparency and accountability in the ongoing divestment of oil and gas assets in the region.
1 day ago
The Presidential Enabling Business Environment Council (PEBEC) in its 2023 Business Facilitation Act (BFA) has adjudged the Nigerian Content Development and Monitoring Board (NCDMB) and the Standards Organisation of Nigeria (SON) as best in business facilitation, with 29 agencies scoring below 50 per cent.
1 day ago
Daniel Oyeduntan, a seasoned professional with about a decade of experience in data science and machine learning, is capturing the attention of the technology industry across EMEA.
1 day ago
With a focus on maximizing production from the hydrocarbon assets to enhance revenues and meet production quota, the Nigerian National Petroleum Company Limited (NNPCL) and its joint venture partner in the Awoba Unit Field, Newcross Exploration and Production Limited, have resumed production from the field with an initial average production of 8,000 barrels per day (bpd)
×
Get the latest news delivered straight to your inbox every day of the week. Stay informed with the Guardian’s leading coverage of Nigerian and world news, business, technology and sports.
0 Comments
We will review and take appropriate action.