{"id":77620,"date":"2023-11-20T11:27:33","date_gmt":"2023-11-20T10:27:33","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=77620"},"modified":"2023-11-20T11:27:33","modified_gmt":"2023-11-20T10:27:33","slug":"smes-businesses-can-catalyze-nigerias-growth-via-digital-financial-services","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/smes-businesses-can-catalyze-nigerias-growth-via-digital-financial-services\/","title":{"rendered":"SME’s Businesses Can Catalyze Nigeria\u2019s Growth Via Digital Financial Services"},"content":{"rendered":"
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With financial services driving 27 percent of GDP growth in Nigeria’s Q2 numbers, small and medium enterprises have been urged to leverage digital financial services in deepening value for improved productivity and business performance even as the nation’s economy continues to confront several head winds.<\/p>\n

This counsel was shared on the sidelines of the recently held Lagos International Trade Fair with the theme, Navigating Economic Challenges, Forging a Path to Prosperity, where leading digital financial services provider, Moniepoint Inc served as the official fintech partner at the 37th<\/sup>\u00a0edition which was organized by the Lagos State Chamber of Commerce and Industry (LCCI).<\/p>\n

Speaking with journalists at the 10-day event which ended on Sunday, Vice President, Sales and Partnerships, Moniepoint Inc, Ifeanyi Duru noted that the Fair\u2019s theme was apt and relevant to all businesses operating in Nigeria at this critical juncture of the nation\u2019s socio-economic development.<\/p>\n

\u201cThis year\u2019s fair is significant because it coincides with the LCCI\u2019s 135th anniversary and we are proud to be associated with such an illustrious brand. We recognize the importance of fostering connections and forging paths to prosperity, especially in the face of economic challenges that confront businesses and consumers. We remain resolute and committed to powering the dreams of millions of individuals and businesses. This event aligns with our mission to drive financial inclusion and economic empowerment, and we are delighted to be contributing to its overall success,” Duru said.<\/p>\n

He furthermore stressed that digital financial services can have a tangible impact on financial inclusion and the economy at large. DFS enhances the financial capabilities of consumers, catering to underserved segments of the population, and leveraging high mobile phone availability in Nigeria to foster economic growth by enabling new business models.<\/p>

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Asiwaju Dr Michael Olawale-Cole, LCCI President\/Chairman of Council, who noted that this year’s trade fair, which is the last he’d be conducting as chair is the largest exhibition for businesses across Africa, has held for an unbroken chain of 37 years and remained pivotal for networking businesses for wealth creation in the diverse eco-system.<\/p>\n

\u201cOver the years, the trade fair has grown to be another significant milestone in the economic life of Nigeria and the broader African continent. There is need to acknowledge the challenging economic environment that Nigeria has been facing in recent times, saying that \u201cthough some are necessary, these challenges have tested our resilience and have called for innovative solutions to foster economic growth and prosperity for our nation and for our people,\u201d he said.<\/p>\n

He thanked Moniepoint Inc and other organizations who supported the fair for coming through for the Chambers and lauded members of the LCCI Trade Promotion Board under the Chairmanship of Engr. Leye Kupoluyi for an outstanding performance. He noted that the organizers have taken note of the feedback vis-a-vis areas that require improvement, assuring that this will reflect in the 2024 LITF edition.<\/p>\n

Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, who spoke virtually at the closing ceremony said that “To navigate the economic challenges and forge a path to prosperity, the Lagos State Government, particularly through the Ministry of Commerce, Cooperatives, Trade and Investment is willing and ready to interface with you all, as we push the agenda of the present administration to support businesses by fostering a conducive environment and enhancing the ease of doing business in Lagos State.\u201d<\/p>\n

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With financial services driving 27 percent of GDP growth in Nigeria’s Q2 numbers, small and medium enterprises have been urged to leverage digital financial services in deepening value for improved productivity and business performance even as the nation’s economy continues to confront several head winds.<\/p>\n","protected":false},"author":6,"featured_media":77621,"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":[10570],"coauthors":[2391],"class_list":["post-77620","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-moniepoint"],"yoast_head":"\nSME's Businesses Can Catalyze Nigeria\u2019s Growth Via Digital Financial Services - National Wire<\/title>\n<meta name=\"description\" content=\"With financial services driving 27 percent of GDP growth in Nigeria's Q2 numbers, small and medium enterprises have been\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/smes-businesses-can-catalyze-nigerias-growth-via-digital-financial-services\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SME's Businesses Can Catalyze Nigeria\u2019s Growth Via Digital Financial Services - 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