The Nigerian Association of Small and Medium Enterprises (NASME) along with its partners is delighted to announce the launch of a funding initiative aimed at revolutionising the MSME sector and fostering economic growth.
Under the theme “MSME 4.0: Enhancing Productivity, Competitiveness, Resilience, and Sustainability in an Era of Digital Transformation,” NASME will launch a 1 Billion Naira Youth Empowerment Fund and 1 Billion Naira Women Empowerment to bring about significant positive change for MSMEs. This fund, which will be launched at the West Africa SME Exhibition to be held October 26 – 28, 2023 at the Abuja Continental Hotel, aims to boost entrepreneurship activities and generate one million employment opportunities, significantly contributing to Nigeria’s economic growth.
In recognition of the evolving digital landscape and the need for MSMEs to thrive in the digital age, NASME, in collaboration with a coalition of esteemed partners has designed the MSME 4.0 Program and the empowerment fund to help MSMEs leverage the opportunities and benefits of the Fourth Industrial Revolution (4IR) and the African Continental Free Trade Area (AfCFTA) by adopting digital technologies and solutions that can improve their performance, market position and adaptability in the changing world.
Partners on this project include the Small and Medium Enterprises Development Agency of Nigeria ( SMEDAN), the Federal Ministry of Industry, Trade, and Investment (FMITI), the Federal Ministry of Communications and Digital Economy (FMC&DE), the United Nations Industrial Development Organization Investment and Technology Promotion Office (UNIDO-ITPO), Sterling One Foundation, Federal Ministry of Agriculture and Rural Development, Nigerian Export Promotion Council (NEPC), UN WOMEN, Bank of Industry (BOI), Development Bank of Nigeria (DBN), and other development stakeholders.
The program will also offer training, mentoring, networking, access to markets and finance, and other support services to MSMEs selected for the West Africa SMEs Exhibition, where it will showcase the products and services of MSMEs from Nigeria and other West African countries, and provide a platform for business-to-business (B2B) and business-to-government (B2G) interactions, knowledge sharing, and partnership building.
The 2023 West Africa SME Exhibition, is a collaborative effort between NASME, the United Nations Industrial Development Organization (UNIDO) Investment and Technology Promotion Office (ITPO) Nigeria, and the Economic Community of West African States (ECOWAS) Commission. It is designed to harness the potential of the African Continental Free Trade Area (AfCFTA) by promoting trade, fostering economic development, and creating opportunities for businesses across West Africa. Other objectives for this event include job creation, improved MSME competitiveness, enhanced trade within the sub-region, and the structural transformation of West Africa’s economy.
All relevant stakeholders, government representatives, and the esteemed public are welcome to join the 2023 West Africa SME Exhibition from 9 am on October 26, 2023, at the Abuja Continental Hotel (formerly Sheraton Hotel) in Abuja, Nigeria.
