In collaboration with the Anambra and Enugu state governments, SMEDAN injected ₦1 billion into MSMEs in each state through a matching fund agreement, enhancing local business growth and economic development.
Under the leadership of Director General Charles Odii, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has initiated several impactful programs to bolster the nation’s micro, small, and medium enterprises (MSMEs).
A notable achievement is the establishment of a ₦5 billion single-digit interest loan facility in partnership with Sterling Bank, aimed at empowering businesses. This initiative attracted over 200,000 applications, with due diligence currently underway for fund disbursement.
To support female entrepreneurs, SMEDAN launched the ‘GrowHer Accelerator Programme,’ providing 100 women with essential resources and mentorship to scale their businesses, reflecting the agency’s commitment to inclusivity and gender equality in entrepreneurship.
Additionally, SMEDAN partnered with Flutterwave to offer digital payment solutions, e-commerce tools, financial access, and capacity-building programs to MSMEs nationwide. This collaboration aims to integrate Nigerian SMEs into the global digital economy, enhancing their competitiveness and market reach.
These initiatives have collectively facilitated the creation of over 15,000 jobs and the disbursement of more than ₦7 billion in direct funding to SMEs within Odii’s initial 100 days in office.
SMEDAN’s strategic focus on financial support, capacity building, mentorship, and market access underscores its dedication to fostering a conducive environment for SMEs, addressing the multifaceted challenges faced by small businesses in Nigeria.
