{"id":18269,"date":"2017-10-17T13:10:46","date_gmt":"2017-10-17T12:10:46","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=18269"},"modified":"2017-10-17T13:10:46","modified_gmt":"2017-10-17T12:10:46","slug":"ecobank-ceo-advocates-credit-guarantee-schemes-encourage-lending-nigerian-msmes","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/ecobank-ceo-advocates-credit-guarantee-schemes-encourage-lending-nigerian-msmes\/","title":{"rendered":"Ecobank CEO advocates Credit Guarantee Schemes to encourage lending to Nigerian MSME\u2019s"},"content":{"rendered":"<p class=\"yiv9207733701MsoNormal\">The Chief Executive Officer of Ecobank Transnational Incorporated, Ade Ayeyemi, is calling for the Nigerian Government to introduce Credit Guarantee Schemes for Micro, Small and Medium Enterprises (MSME) as a measure to hedge their risk.<\/p>\n<p class=\"yiv9207733701MsoNormal\">Reiterating that MSME\u2019s\u00a0are a fundamental part of the economic fabric in Nigeria and the wider continent and therefore play a crucial role in furthering growth, innovation and prosperity, Mr Ayeyemi suggested that shouldering some of the risk would\u00a0encourage greater confidence amongst banks to lend to the sector.<\/p>\n<p class=\"yiv9207733701MsoNormal\">\u201cCurrently, many banks would rather invest in treasury bills than give credits to individuals which may later result in non-performing loans,\u201d said Mr Ayeyemi. \u201cIf the government were to take out part of the risk by saying, \u2018we will guarantee\u2019, then I would become indifferent whether I put the moment in a treasury bill or an MSME.\u201d<\/p>\n<p class=\"yiv9207733701MsoNormal\">However the CEO of Africa\u2019s leading pan-African bank insisted that such a guarantee would only work if entrepreneurs repaid this show of faith by paying it back on time. \u201cIf the MSME\u2019s don\u2019t pay, they are reducing the abilities of the banks to be able to fulfill their role in society in being able to lend,\u201d he said.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p class=\"yiv9207733701MsoNormal\"><span lang=\"EN-GB\">\u00a0<\/span>Mr Ayeyemi\u2019s comments came following his guest appearance on the \u2018Access to Capital\u2019 panel at the 23<sup>rd<\/sup>\u00a0Nigeria Economic Summit. Held in Abuja, Nigeria between 10<sup>th<\/sup>-12<sup>th<\/sup>\u00a0October. The event brought government and business leaders together to actualise change and stimulate growth.<\/p>\n<p class=\"yiv9207733701MsoNormal\">In a rousing address, Mr Ayeyemi drew attention to why new businesses fail so quickly. \u201cPart of that failure is not due to the person but also due to the circumstances in the environment,\u201d he said. \u201cIf you don\u2019t have power, if there is no water and you need $5,000 to set up a barbing salon today; if you are in Nigeria you spend more than half of that money on a generator, diesel and water.\u201d<\/p>\n<p class=\"yiv9207733701MsoNormal\">He suggested that a key component of the bank achieving its dual\u00a0objectives of commercial viability and socio-economic development, would be driven by combined activities with strategic partners such as the International Finance Corporation (IFC), the Bank of Industry (BOI) in Nigeria, the Africa Development Bank (AfDB) and Afreximbank.<\/p>\n<p class=\"yiv9207733701MsoNormal\">\n<\/p><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Chief Executive Officer of Ecobank Transnational Incorporated, Ade Ayeyemi, is calling for the Nigerian Government to introduce Credit Guarantee Schemes for Micro, Small and Medium Enterprises (MSME) as a measure to hedge their risk. Reiterating that MSME\u2019s\u00a0are a fundamental part of the economic fabric in Nigeria and the wider continent and therefore play a &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":18270,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[3045,814],"coauthors":[2391],"class_list":["post-18269","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-credit-guarantee-schemes","tag-ecobank"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ecobank CEO advocates Credit Guarantee Schemes to encourage lending to Nigerian MSME\u2019s - 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