Abiodun adopts Afreximbank’s template to drive MSMEs’ growth

In his determination to boost Micro, Small and Medium-scale Enterprises (MSMEs) in Ogun State, Governor Dapo Abiodun said he had adopted a pronged approach to improve the ease of doing business in the state.
The approach, he said, would create access to finance, simplifying land acquisition and registration of business premises, as well as improving the already existing infrastructure within the state.

Special Adviser to the Governor on Investment, Sola Arobieke, who spoke during a two-day SMEs Development workshop and stakeholders’ engagement programmeorganised by African Export-Import (Afreximbank), in partnership with Woodhall Capital in Lagos, highlighted the transformative impacts of reforms undertaken by the state government to stimulate the economy.

Arobieke, who doubles as the Deputy Director-General of Ogun State Investment Promotion and Facilitation Agency (OgunInvest), said that the pronged approach of government on MSMEs had really boosted the economy and helped the commerce, especially among the operators of Micro, Small and Medium-scale Enterprises (MSMEs) in the state, which aligns with Afreximbank template on MSMEs growth.

She said that the state government had also introduced initiatives, such as revenue harmonisation and tax reforms to further streamline operations of MSMEs.
Meanwhile, the Executive Vice President of Afreximbank’s Intra-African Trade and Export Development Division, Kanayo Awani, has said that the bank is meant to foster SME growth through more than just financing.

She noted Afreximbank’s role in strengthening SMEs to produce competitive, export-grade products that meet global standards, thereby unlocking new trade opportunities and positioning local businesses for international expansion.

Also speaking at the event, the founder of Woodhall Capital, MojisolaHunponu-Wusu, said that supporting SMEs in reaching their full potential is vital for building a prosperous Africa.