Support For MSMEs In Lagos: Ecobank, LSETF Partner

Ecobank Nigeria Limited and the Lagos State Employment Trust Fund have entered a strategic partnership to promote entrepreneurship and capacity development for micro, small and medium enterprises in Lagos in a bid to curb unemployment.

They signed a Memorandum of Understanding on Wednesday in Lagos.

Under the arrangement, Ecobank Nigeria is expected to make available its various platforms and solutions to LSETF for prequalified MSMEs in Lagos to drive attainment of the objectives as set out by the two organisations.

The Executive Director, Commercial Banking, Ecobank Nigeria, Mrs Carol Oyedeji, said, “The collaboration is in line with the bank’s empowerment and entrepreneurship initiatives to reduce unemployment in various parts of the country.”

She said the partnership would be mutually beneficial to both parties as it would achieve sustainable business growth and overall skill development amongst MSMEs operating in Lagos State.

According to her, the partnership will engender structured capacity building, technology skill acquisition, access to business mentoring and access to finance.

Oyedeji said, “We are currently driving the African Union Initiative for MSMEs in Africa which includes a structured training and mentoring scheme including financing for MSMEs under the auspices of the Ecobank AUDA-NEPAD Academy.

“This initiative comprehensively covers the main objectives of the LSETF’s intervention in the MSME space. Ecobank has been very active in empowering existing and intending entrepreneurs all over the country under the Ecobank agency banking proposition.”

Credit: punchng.com