GText to Partner World Bank on SME Financing

NSE mobile trading
  • GText to Partner World Bank on SME Financing

GText Group has announced plans to partner the World Bank to provide loans and finance to the Small and Medium Enterprises, as part of its corporate social responsibility.

The Group Chief Executive Officer, GText, Mr. Stephen Akintayo, while speaking at a press conference in Lagos on Wednesday, stated that the partnership was in a bid to promote the spirit of entrepreneurship in Nigeria, particularly among youths.

Akintayo who disclosed that the company planned go public soon, said the partnership with the World Bank to fund the SMEs would help promote the GText brand.

He said the group planned to help the SMEs grow so they could create more jobs for the unemployed and set an example for other companies.

According to him, if the SMEs have access to the right amount of finance, all sectors of the economy will gradually become developed.

He said, “Since the group became registered in the United States, the United Kingdom, and the Middle East, a lot of job opportunities have been created, and many more employed. If I was provided with access to finance a long time ago, the company would have grown beyond its current level.”

Also speaking, the Group Business Development Manager, GText, Mr. Ikechukwu Ohansen, stated that since the group had become global and World Bank-accredited, plans were also being made to partner other financial institutions to provide funds for the SMEs.

He said though the group was currently funding the SMEs single-handedly, it was looking to build relationships with investors to reduce the burden.

He said the group aimed to expand and build the brand by investing in other people’s businesses.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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