Cedrus Group Africa, a financial and investment company has resolved to leverage technology and roll out innovative products that would help aggregate Small and Medium Enterprises (SMEs ) across Africa and structure them for easy accessibility of funds.
The Chief Executive Officer of the company, Olubusayo Adeniyi, who made this statement at a press conference to mark its one-year anniversary as a business and the launch its’Cedrus 5000 Africa SMEs’ said such unbundling would help overcome access barriers to production resources and ultimately create a robust platform for them to explore various funding opportunities and expand their operations.
He lamented that despite the challenges confronting the SMEs sector in Nigeria, it potentially constitutes the most dynamic firms in emerging economies, limit their expansion capacity and impede development.
According to him, funding should not be a barrier to SMEs growth if well structured considering the attractiveness of SMEs, especially those in the technology sector, manufacturing, agriculture and renewable energy.
He noted that inappropriate structuring impedes and restricts their economic prosperity and growth potential in Nigeria, adding that appropriate structuring would grant them access to various Generator set funding opportunities from institutions such as the NSE to enhance business growth.