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MSMEs Vital to Sustainable Development —UN



  • MSMEs Vital to Sustainable Development

The United Nations Information Center says the Micro, Small and Medium-scale Enterprises are vital in achieving the Sustainable Development Goals of the UN General Assembly.

The body noted that the MSMEs were vital in promoting innovation, creativity and decent work for all.

The Director, UNIC, Ronald Kayanja, stated this at the UN Day for MSMEs which held at the Commerce House, Victoria Island, Lagos.

Kayanja, who was represented by the National Information Officer, UNIC, Oluseyi Soremekun, said the UN General Assembly had resolved on April 6 to set June 27 aside as the UN MSME Day in recognition of the need to improve access of small businesses to finance.

Recalling an earlier resolution of the General Assembly entitled ‘Transforming our world: The 2030 Agenda for Sustainable Development’, the UNIC director said the body had adopted a comprehensive and people-centred set of universal SDGs and targets.

“These are popularly called the Global Goals. There are 17 goals and 169 targets,” he said.

He noted that efforts to enhance access to finance for the MSMEs across key sectors of national economies were an important element of the implementation of the SDGs.

Kayanja said, “The importance of the MSMEs to sustainable development is underscored by the theme for this year’s observance which is ‘Small Business, Big Impact.’ The MSMEs are vital in achieving sustainable development goals, in particular in promoting innovation, creativity and decent work for all.”

In her remarks, the President, LCCI, Dr. Nike Akande, noted that the MSMEs had potential to make a long-lasting positive impact on global development needs, since they were the engine for economic growth and job creation.

Akande added that the MSMEs sub-sector accounted for two out of three new jobs created worldwide.

She said this was why the chamber had continued to advocate for a better business environment where small businesses could thrive.

She lamented that despite the crucial role of the MSMEs in economic development, they were still faced with several challenges.

Akande, however, acknowledged the renewed efforts of the Federal Government in resolving lingering business environment issues that were hindering the growth and sustainability of the MSMEs in Nigeria.

She added that the Federal Government through the Central Bank of Nigeria had introduced microfinance policy in 2005 to specifically cater for the financial needs of small businesses.

The LCCI president pointed out that the major challenges faced by the MSMEs sub sector was that most of them lacked proper bankable business plans, competitive marketing strategy and standard accounting systems, while some were still largely excluded from the financial system.

She urged the government to maintain a stable policy and regulatory environment that could support the reform on the ease of doing business in Nigeria, adding that issues of taxation, trade and foreign exchange policies should be managed in line with international best practices.

“This should take into consideration policies that facilitate trade, attract foreign investment and protect businesses from avoidable regulatory pressures. With the right policy environment and provision of needed infrastructure, Nigerian entrepreneurs are quite resourceful and diligent to fully contribute to the recovery and growth of the economy,” Akande added.

The Director-General, Small and Medium Enterprise Development Agency of Nigeria, Dr. Dikko Radda, who was represented by the State Coordinator, SMEDAN, Yinka Fisher, said the days of white collar jobs were gone.

He implored Nigerians to look inwards by putting their talents to use and becoming self-reliant employers of labour.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.


Experts to Provide Insights on Tech & Digital Transformation at MSME Dialogue 3.0



msme dialogue -

The third edition of MSME Dialogue will take place on Saturday, April 24, 2021 at 10am (WAT). Experts at the virtual event will provide insights while discussing the theme: Powering MSMEs with Technology and Digital Transformation.

The event, which is organized by MSME Africa, is expected to have owners and managers of Micro, Small and Medium Enterprises, Entrepreneurs and Business owners from different sector in attendance.

MSME Dialogue which holds every quarter, seeks to address, burning and relevant  issues about entrepreneurship and running a small business as well as proffering solutions to those issues.

The event aims to provide the right knowledge and know-how for MSMEs, Entrepreneurs, and Startups to enable them to grow and thrive and features subject matter experts, seasoned entrepreneurs, professionals, and players within the MSME Ecosystem.

The speakers expected at the event are: Akeem Lawal, Divisional CEO, Interswitch Group, Rex Mafiana: CEO, FPG Technologies, Fatma Nasujo, Global Head of Operational Excellence at Sokowatch, Kenya, David Lanre Messan, CEO, FirstFounders, Bisoye Coker, CEO/Co-founder, Kiakia FX. The session will be moderated by Solape Akinpelu: CEO/Founder, HerVest.

According to the convener of the event who is also the founder of MSME Africa, Seye Olurotimi “Every business owner who is serious with their business would agree with me that technology and digital transformation are important factors for business growth and success. We all can’t all run or won Tech startups but we can always drive our businesses and operations with Technology and Digital Tools”

“Tech-driven Businesses are making waves and turning in almost unbelievable results against all odds. Businesses who have embraced technology, automation and digital transformation are enjoying unquantifiable advantages. It is because of this that I am calling on business owners and managers to join us at the 3rd Edition of MSME Dialogue, on Saturday April 24, 2021 at 10am ( WAT), as we bring in experts to provide insights on this theme” Olurotimi added.

MSME Africa is a multi-faceted resource platform for Micro, Small, and Medium Enterprises (MSME) in Africa providing capacity development, news, opportunities, business articles and other resources for MSMEs, entrepreneurs, and startups.

Olurotimi said the platform was poised to build the biggest network and community of MSMEs in Africa in the nearest future.

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Ericsson Launches Automation Hub in Nigeria




Ericsson announces plans to create an Automation Hub in Nigeria to support operators for improved consumer experience.

Ericsson Automation Hub is an open innovation platform, inspired by lean startup methodology in which the Ericsson team works in close dialog with customers, users and partners to showcase and reach the high potential that network automation allows in configuration, provisioning, assurance and orchestration of network services.

This will enable service providers to gain the ability in their environments to govern, manage and orchestrate hybrid networks holistically and in real time and as a result, offer an enhanced consumer experience.

Fields to be covered include but not limited to 5G and Internet of Things (IoT) use cases, Network Slicing and Orchestration, Hologram Calls, Complex Standalone, Business Support System (BSS) and Operations Support System (OSS), Cloud and Core product cases, Automated Acceptance Tests demonstration and enhancements as well as complex charging scenarios for 5G and 4G networks.

Lucky La Riccia, Vice President and Head of Digital Services at Ericsson Middle East and Africa at Ericsson says: “As Industry 4.0 accelerates in Africa, automation in operations is proven to boost customer experiences. Ericsson continues to support the telecom industry players in setting #AfricaInMotion, and with the Ericsson Automation Hub in Nigeria, we will focus on driving business outcomes for our partners in Africa as they aim to leverage digital transformation to turn complexities into opportunities while offering a greater experience and value to consumers.”

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Chevron To Invest In The Offshore Wind Sector




Chevron’s venture capital arm and Moreld Ocean Wind have agreed to invest in Ocergy Inc.’s development and commercialization of floating offshore wind turbines.

The investment by Chevron Technology Ventures is it’s first in offshore wind. The size of the investments wasn’t disclosed. Floating turbines would be useful in ocean areas that are too deep for fixed turbines.

A senior analyst at Wood Mackenzie Ltd, Anthony Logan said: “To my knowledge, this is the first investment by a U.S. oil major in offshore wind”

Logan said, floating wind turbines will become important as the U.S. electrical grid increasingly depends on offshore wind power.

“If you can get into those deeper waters, chances are you can build a system of offshore wind production that isn’t vulnerable to low wind or no-wind events.”

The investment will also fund the development of an environmental monitoring buoy that will gather data and support biodiversity, Ocergy said in a news release Tuesday. The company has previously invested in onshore wind. Moreld is owned by HitecVision, a private equity investor that specializes in European renewable energy.

Chevron’s deal with Ocergy doesn’t mark a strategic pivot to renewable energy, but part of a $300 million-a-year plan to invest in early-stage technologies that may play a future role in the energy transition. The company is unwilling to erode returns by investing aggressively in an unfamiliar business where it doesn’t have a competitive advantage and sees oil and gas as its core products for years to come.

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