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SMEDAN Partners Bloc to Provide Financial Tool to MSMEs

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CEM REPORT, MSME | To promote the growth of small and medium-sized enterprises (MSMEs) in the country, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has partnered with Bloc, a financial services infrastructure company.

The partnership is expected to provide MSMEs with easy access to FinTech tools and infrastructure in alignment with SMEDAN’s responsibilities as a government agency.

Speaking on the partnership, the Director General of SMEDAN Olawale Fasanya, in a statement, said the prevalent challenge for businesses in Nigeria has been insufficient infrastructure to manage business operations and access financial services.

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He noted that the strategic partnership with Bloc aims to solve this challenge in the MSME sector.

He added that: “If micro, small, and medium-sized enterprises (MSMEs) do well, they can contribute significantly to employment generation, wealth creation, poverty reduction, and sustainable economic growth and development in Nigeria.”

Explaining the role of Bloc in the partnership, he said it is a financial services infrastructure company that provides access to an array of easy-to-use tools and software for SMEs with little or zero technical know-how.

Bloc is a financial services infrastructure company that provides tools and software for SMEs to efficiently manage their financial operations and how they serve their customers with financial technology.

 

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