Over 17 million entrepreneurs are set to benefit from a partnership between Nigeria’s National Telecommunications Carrier, Globacom, and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
The partnership which will cover entrepreneurs under SMEDAN is seen as a huge stimulus to boost economic growth in the country.
Officials of the two organizations signed a memorandum of understanding (MOU) on the partnership at a press conference held on Wednesday at Globacom’s headquarters in Victoria Island, Lagos.
Globacom’s Regional Chief Marketing Officer for West Africa, Ashok Israni signed on behalf of Glo, while the Director General of SMEDAN, Bature Umar Masari signed for his organisation.
Giving details of the agreement, Globacom’s Head, Corporate Sales, Kamaldeen Shonibare, said Glo will empower small and medium enterprises that are members of SMEDAN by providing them access to grants, soft loans and capacity training programmes.
“As a proudly Nigerian company, Globacom is partnering with SMEDAN to catapult Nigeria to greatness through the empowerment of SMEDAN’s over 17 million members. We will support SMEDAN and its affiliates with funds, sensitization workshops and business tools. We will also support the Industrial Development Centres being established in some states of the federation. Our dream is to see numerous five thousand Naira businesses catapult to half a million Naira enterprises within one year,” Shonibare said.
In his remarks, the Director-General of SMEDAN, Bature Umar Masari said “SMEDAN is happy to partner with an indigenous company which has become a global brand.”
Masari explained that the partnership would run for an initial period of five years with the opportunity for attractive call rates as Closed User Groups (CUGs) for the 17 million entrepreneurs under SMEDAN and a channel to advertise their products and services via Call Back Ring Tone.
He explained that the project would also give 10 percent of the net revenue from the partnership to select Micro Small and Medium Enterprises (MSMEs) who subscribed to the package.