EnuguSME, Author at Enugu SME Centre

Loans: Why its difficult for SMEs to get from  banks.

“Onyeagwu gave all these insights while speaking in an interview with Arise TV on why Nigerian banks charge high-interest loans”

The Group Managing Director of Zenith Bank, Mr. Ebenezer Onyeagwu  has discussed the impressive positive returns recorded this year by the bank. He also shared some insights on the relationship between commercial banks in Nigeria and Small/Medium Enterprise business owners.

Onyeagwu gave all these insights while speaking in an interview with Arise TV on why Nigerian banks charge high-interest loans, making it difficult for small business owners to get single-digit loans for their business, the Zenith Bank GMD explained that the operational costs and regulatory costs involved in running a bank usually sets the pace for every other thing.

He listed examples of operational costs involved in running a single bank branch and how all that adds to the bottom line at the end of the day.

He also highlighted regulatory costs which are not particularly known by people outside the banking sector as one of the costs of doing business banks face.

These two factors mainly contribute to the high-interest rates banks charge on loans.

“Our cost profile depicts the operating environment. Within the year we saw an upward review in fuel price, which accounted for the increase in our fuel cost. Again, when you are looking at cost of doing business, you also need to look in total, how businesses are being conducted. If I set up a branch today, I would need to provide my infrastructure, I need to provide power, water and in some cases, we even construct the road to provide access to the branch location. So, as a result of the poor state of infrastructure, you see that businesses would now have to contend with providing these resources to get their operations running. So, if we have more available and cheaper utility services and infrastructure to support businesses, of course, the cost would go down.

Then, looking at cost of doing business in banking, it goes beyond those operational costs. We also have things like regulatory cost. A bank like Zenith, given our size, the burden of regulatory cost on us is heavy. By regulatory cost here, I am referring to the Nigeria Deposit Insurance Corporation premium and the Asset Management Corporation of Nigeria fee. So, because of our size, if you look at the numbers, you will see that these regulatory costs account for a whopping 28 percent of our overhead. So, all of them come together to add to the cost of doing business for us as a banking institution in the country,” Onyeagwu said.

On why it is difficult to get single-digit loans from Nigerian banks, Onyeagwu highlighted 3 key reasons why single-digit loans are very difficult to obtain in Nigeria. He listed the following:

Fiscal deficit
Government Borrowing
Money supply and demand

The Zenith GMD stated that it is nearly impossible to issue an interest rate by fiat. He stated that the interest rate will always be determined by market forces.

He said, “First of all, if you are looking at the interest rate, you have to look at it in terms of the theoretical framework and issues around money supply, demand for money, issues around government borrowing, and the fiscal deficits. So, when you put all that together, you will see that you cannot have a situation where you decree interest rate by fiat. Interest rates would always be set by the dynamics and realities in the market. In this case, if you are looking at the interest rate in Nigeria, you have to index it to the risk-free rate. The one-year risk-free rate in Nigeria is like 10 percent. So, it will be difficult to have a single-digit rate in Nigeria.” 

Solutions 

Onyeagwu highlighted the various ways the Central Bank of Nigeria has intervened in a bid it provides single-digit loans to entrepreneurs in certain sectors. Sectors like cinema, movie, ICT, and fashion designing have been enjoying single-digit loans courtesy of various CBN initiatives.

He said, “We have intervention funds such as the Creative Industry Financing Initiative, where banks in the country provide long-term single-digit funding for entrepreneurs who are in cinema, movie, ICT, and fashion designing. We also have what is called the Agri-Business/Small and Medium Enterprise Investment Scheme. It is also a pool of funds available for businesses in that space. You can as well access these loans. Apart from these, the CBN also has different intervention schemes such as the Anchor Borrowers Scheme, the Commercial Agricultural Credit Scheme, and others, and all these loans are single-digit and they provide long-term financing. The big problem we have is that when you see an SME approaching you for the loan, the SME may not have a track record; he walks up to you and tells you that he needs a single-digit loan and needs N20 million.

“But I can’t give you N20 million without looking where you are coming from. So, we cannot decree the interest rate by fiat. But the regulators have done good work by providing funding schemes and whoever is eligible would get such single-digit long-term loans once they meet the criteria. So, the funding is there, but the SMEs when they approach the banks don’t often meet the eligibility criteria.” 

SOURCE: NAIRAMETRICS

Investing During a Recession

Recession has in the last few years become something of a buzz word in Nigeria to describe the harsh economic conditions in the country and its resultant effect on the income, spending power and businesses of the people.

However, by definition, a recession happens when a country’s GDP falls in two consecutive quarters, while the Gross Domestic Product (GDP) simply means the measure of goods and services produced in a country over a period of time.

Last year, the economy contracted by 3.62 percent in the third quarter of 2020, indicating that two consecutive quarters of negative growth had been recorded in 2020 following the previous decline by 6.1 percent in the second quarter.

Officially, this meant that Nigeria’s economy slipped into recession and for the second time in four years as oil prices plunged in the midst of the COVID-19 pandemic.

Recessions are usually characterized by falling incomes, weakened sales and production as well as a drop in the confidence levels of investors. Consequently, this leads to an aversion for risk and often a tendency to err on the side of safety.

The interesting fact, however, remains that recessions often give way to recoveries soon after. In the light of this, with the right strategy, a recession might not necessarily be a bad time to invest.

These few tips will be useful in helping you create your personal investment strategy.

Avoid Panic One big mistake investors make in times of recession is to make panic-induced decisions and follow an inclination to liquidate investments in favour of cash. This could, however, mean that you box yourself into a “corner” which could eventually produce hefty losses once the economy begins to recover. This is especially for people who have a stock-based investment portfolio.

Also, patiently wait to get dividends for your existing investments and resist the urge to sell in panic. Carefully Inject Funds into Investments When a market is fraught with volatility and investor fear, it can be extremely difficult to time trades perfectly and properly predict when prices are likely to rise or fall.

The way to work around this is to find a personal saving pattern that works for you and then carefully identify investments that appear worthwhile to inject your saved resources into.

This can help you save money and also, significantly increases your purchasing power as prices are usually low at these times.

It may also be a good time to take advantage of low prices and get bargain deals especially in industries that have been hard hit by the recession but have clear potential to bounce back strongly.

Take a Peek In taking on new investments in this period, especially with direct investment like shares, always take a peek into the financial records as well as the business and operational models of the companies you are considering for investment.

Industries and companies that cater to basic human survival needs are a good bet in this regard because they can often expect to experience minimal upheavals even in a recession.

There is Nothing Wrong with Being Safe Investing in safety nets such as bonds and mineral resources such as gold can be a great way to store up value, as their performance is often unaffected by market forces.

This can help you diversify your portfolio properly and ensure you are not entirely reliant on how the stock market pans out. I leave you with the words of the American businessman, MichealNesmith “Behind every dark cloud, there is usually rain”.

SOURCE: VANGUARD

Traders happy as movement of food trucks begins…

Dealers in food items in Kwara and neighbouring states have heaved a sigh of relief as free movement of goods and food products Monday resumed from North to South West states.

Some suspected hoodlums of northern extraction at the weekend reportedly barricaded the Jebba-Ilorin highway to disallow food items-carrying trucks from allegedly entering South West states.

It was reported that truckloads of food items from the northern parts of the country were denied entry into states of the South West.

It was also gathered that some Hausa youths in Kara-Jebba, outskirts of Niger state in Kwara state boundary had between last Thursday and Friday, blocked truck drivers carrying food items from entering South Western states.

The items are tomatoes, beans, yams, cattle, pepper and others.

The situation, it was gathered resulted in indiscriminate parking of food rucks along the road obstructing vehicular movement and causing the destruction of the perishable food items.

Investigation revealed that free movement of goods laden food trucks resumed early Monday morning on the Jebba-Ilorin expressway.

Resident of Jebba, who is a prince of the ancient town Ibrahim Adebara, said that a troop of military operatives drafted by the federal government effected the free movement.

Prince Adebara said that the military personnel had stationed along the road to maintain law and order, adding that the military personnel threatened to treat anyone that blocks the road as terrorist.

Also speaking, a trader called Madam Asiawu Balogun said she was happy with the return of normalcy, however, lamenting losses caused by some perishable items that got bad while the situation lasted.

The Defence headquarters, in a statement at the weekend by its acting director Defence information, Brigadier-General Onyema Ugochukwu, said it had cleared the Jebba-Kaduna road of those preventing trucks from going to the South and restored normalcy there.

“This is also to give a stern warning to any unscrupulous group or persons who are aiming at disrupting legitimate economic and commercial activities by preventing free flow of traffic and movement of goods in a bid to generate clashes along ethnic divides to desist from such unpatriotic acts or face the wrath of the law.

“Members of the public are also urged to promptly report anyone found engaged in such atrocious activities to security operatives,” the statement had said.

SOURCE: NEWSCENTRIC

Osinbajo to NIPSS: We Know All About Think-Tanks, What We Need Now Are Do-Tanks

VP task participants to unlock mystery of failed or poorly implemented policies and projects

So, your task is already well cut out for you. Perhaps Course 43 will be able to unlock the mystery of failed or poorly implemented policies and projects, but more importantly, promote a practical, nitty-gritty guide to implementing projects and policies. This is a body of knowledge that is desperately needed today.

Those were the words of Vice President Yemi Osinbajo, SAN, earlier today while inaugurating the Senior Executive Course 43 of the National Institute for Policy and Strategic Studies (NIPSS).

Speaking on the theme of the Course 43 programme titled Getting Things Done: Strategies for the Implementation of Policies and Programmes in Nigeria”, the Vice President noted that “this year’s theme goes to the heart of what is generally considered the bane of development in Nigeria, poor implementation.”

According to him, “the proverbial gap between intention and results; between policy and stated outcomes; delivering on campaign promises or even just doing what the well-articulated policy papers say. For many serious-minded policymakers, the frustration is the same, yes we know all about think-tanks what we need now are do-tanks.”

While commending the commitment and contributions of NIPSS to critical national issues through policy briefs, policy advice and other strategic interventions, Prof. Osinbajo assured staff, participants and management of the Federal Government’s continued support to the institution especially in the upgrade of facilities but tasked the NIPSS management to be innovative in addressing its problems.

“While Government will continue to do its best to support the National Institute, I should stress that budgetary provisions alone will always be limited given competing needs and responsibilities of government. It is therefore imperative for NIPSS to be even more pro-active and creative in seeking alternative sources of funding, the Vice President added.

Commiserating with the management and staff of NIPSS on the demise of its Director-General, the late Prof. Habu Galadima, the Vice President recalled the late DG’s hard work and dedication particularly to the growth of the institute, describing the late DG as a passionate advocate for the transformation of the Institute”

As in the previous programmes, participants of Senior Executive Course 43 are drawn from the private sector, the public service, including paramilitary organizations and the armed forces.

Present at the event were Plateau State Governor, Mr Simon Lalong, representatives of the Service Chiefs, among others.

SOURCE: PROSHARE

Capital market investment: Managing Risks…

The capital market is, generally, regarded as a safe haven for investment. There, your money works for you.

The market is a setting for income without stress.

Smart and daring speculators can make fortunes there and can also lose a fortune through poor judgement.

Despite its attractiveness, the capital market is volatile.

In fact, volatility in price of securities is the hallmark of every capital market.

Increased risk can emanate from increased volatility.

Everyday, stock prices go up and down in reaction to any number of issues involving business, the socioeconomic and geopolitical events.

The field of behavioral science has contributed an important element to the risk equation, demonstrating asymmetry between how investors view gains and losses.

Investors usually put roughly twice the weight on the pain associated with loss than the good feelings associated with a profit.

Every investor wants to play safe with his investments.

Often, investors want to know just how much the value of an asset may deviate from it’s expected outcome, and also how bad things may look way down on the negative side.

Value-at-Risk (VaR) attempts to provide an answer to this question.

The idea behind VaR is to quantify how large a loss in investment could be with a given level of confidence over a defined period.

Due to the high volatility and frequent downturns in the capital market, uncertainties characterize the predictability of returns on investment.

As a result of uncertainty, it is extremely difficult to predict the future price of a security and by extension, direction of the capital market.

Uncertainty and risk are synonyms but they are not quite the same. Uncertainty must be taken in a sense radically distinct from the familiar notion of risk, from which it has never really been properly separated.

The term “Risk” as loosely used in everyday speech and in economic discussion, really covers two things which functionally at least in their causal relations to the phenomenon of investment, are categorically different.

Uncertainty is the lack of complete certainty. It is a situation where the future outcome cannot be predicted with any confidence from knowledge of past or existing events.

Uncertainty presents more than one possibility whereby the true outcome or result is unknown. Uncertainty is immeasurable ie, not possible to calculate whereas, risk is a state of uncertainty where some of the possibilities involve a loss, catastrophe or other undesirable outcome.

It is a set of possibilities each with quantified probabilities and quantified losses. One may have uncertainty without risk but not risk without uncertainty. We can be uncertain about the winner of a contest but unless we have some personal stake in it, we have no risk.

If we bet money on the outcome of the contest, then we have a risk. Consequently, the measure of uncertainty refers only to the probabilities assigned to outcomes while the measure of risk requires both probabilities for outcomes and losses quantified for outcomes. Uncertainty presents both risk and opportunity, eroding or enhancing value.

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Firstbank Unveils First SME Account…

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced its SME specific accounts designed to reinforce the Bank’s role in putting SME’s at an advantage whilst contributing to national growth and development.

The SME accounts – which are in two variants – First-bank SME Classic and First-bank SME Deluxe – are offered to SMEs, irrespective of industry, and tailored to have SMEs exposed to a wide range of services and opportunities that are essential for their continued growth and role in contributing to national development.

The advantages and features of these accounts include; access to Temporary OverDrafts (TODs)and other facilities subject to meeting Risk Adjustment Capital (RAC) of each product; immediate enrollment on all digital platform; free access to FirstBank SME events; free access to extensive business promotional and networking opportunities on the SMEConnect portal; access to a wide range of discounted and promotional offers.

Amongst the many opportunities available to holders of FirstSME account is the SMEConnect initiative of FirstBankwhich is a platform through which SMEs access the Bank’s unique propositions that will equip them with the essential tools needed for the growth of their business.

The SMEConnect portal is also designed to help SMEs identify various gaps that hinder their business growth. With FirstBank’s over 126 years of impacting the economy, the Bank’s SME innovative Business Diagnostics Tool will also help proffer tailored solutions, whilst creating avenues for business improvement, profitability and sustainability.

Following extensive research by the Bank, 7 strategic pillars have been considered essential for the sustainability and growth of SMEs. The 7 pillars – connect to infrastructure, connect to talent, capacity building, connect to policy and regulation, connect to resources, connect to market as well as connect to finance.

According to Chief Executive Officer of FirstBank, Dr. Adesola Adeduntan, “FirstBank is delighted to unlock several opportunities for SMEs to thrive. Our FirstSME account is one of the numerous opportunities designed to empower SMEs to continually drive impact as the backbone and contributors to employment and economic growth.

Being woven into the fabric of the society for close to 127 years means that we remain at the forefront of providing the desired financial products and services to fit the needs unique to the SMEs as well as facilitating the requisite tools and resources to efficiently and effectively drive business sustainability and expansion strategies essential to taking SMEs to the next level’’

SOURCE: THE NIGERIAN VOICE

CIT Microfinance Bank Disburses Over N16bn Loans

CIT Microfinance Bank Limited says it has disbursed about N16bn loans since it commenced operations as part of its contributions to the financial sector and empowerment of businesses.

The Managing Director of the microfinance bank, Mr Kingsley Eremionkhale, disclosed this during the company’s 10th anniversary in Lagos recently.

He reiterated that the bank is committed to supporting the growth of small and medium-scale enterprises in the country.

“Since inception, we have disbursed loans worth about N16bn. Our operation is not just about profit-making, but we have impacted many lives, empowered many businesses, and done a lot in terms of our core mandate as a microfinance bank.”

While appreciating its customers who had been loyal to it for years, he said the MFB is concerned about their business success.

The Managing Director said, “We are part of our customers’ businesses. We provide services beyond lending and savings products and we also give financial advisory services.”

He appreciated the customers who had stayed with the financial institution for many years.

Eremionkhale noted that the MfB is a state-licensed bank operating in Lagos, and a subsidiary of Capitalfield Investment Group.

He also attributed the success of the MfB to the board of directors which he said had been supportive of the management team and its workforce in the past 10 years.

While saying that the bank could lay claims to exponential growth, he said the public should expect more from it.

He also said that it was driving its operations through its digital offerings and e-channels, to improve its services to our customers.

SOURCE: MSME AFRICA

Key to SME growth in Lagos state

Small and medium-sized enterprises (SMEs) are generally regarded as the engine of economic growth in any developing economies. Similarly, a large concentration of SMEs including micro and nano businesses are easily noticeable in Lagos state, the economic hub of Nigeria. The state enjoys a high presence of SMEs, micro and nano businesses more than any state in Nigeria. Why is that? The simple metric to this is that Lagos has a population size of about 15 million, according to United Nations (UN) projections and it appears like a country within a country considering the strength of economic activity and populace.

In fact, without a doubt, Lagos has a population estimate that is higher than some West African countries, namely Guinea (13,132,795), Benin (12,123,200), and Togo (8,278,724), Sierra Leone (7,976,983). Even the population of the state is higher than that of some developed countries such as Finland (5,540,720),Belgium(11,589,623),Sweden(10,099,265), Denmark(5,792,202), and Ireland (4,937,786). Supportably, the population is even higher than the combined population of Liberia (5,057,681), Mauritania (4,649,658), Gambia (2,416,668), Guinea-Bissau (1,968,001) as of February 27, 2021. However, the painful reality is that over 60 percent of the residents of Lagos are poor and live in various high-density and informal settlements scattered across the state. These residents lack proper sanitation, power, and other basic services, and most of them eke a living from small businesses, which includes nano and micro businesses. A visible reference usually includes the operators of kiosks, commercial tricycles, motorcycles and many other informal business operations in the state.

The estimated figure of micro-businesses in Lagos is 3,224,324 and to add to this, over 11, 663 SMEs operate in the state, according to a recent statement from the Lagos ministry for commerce, industry, and cooperatives. In my opinion, this data is underreported and does not reflect the large informal economy that exists in the State particularly the nan businesses. From reliable data, the informal economy employs about 5.5 million people in Lagos, if not more. So, a reliable database is necessary for adequate planning in the state.

The small business economic activities in Lagos can contribute largely to the growth of the non-oil sector, employment generation, and the creation of sustainable entrepreneurship. These can largely be driven by businesses in the formal and informal sector in the state. Arguably, small business represents over 90 percent of private businesses in the state and contributes to more than 50 percent of employment. Yet the state government has not duly recognised the significance of this sector in the economic development of the state. For instance, the popular computer village in Ikeja, Ladipo spare part market in Oshodi and Balogun market in Lagos Island all consist of clusters of mostly micro-businesses with huge economic engagements but the government of Lagos state is yet to facilitate their formality and capacity building with the required policy and incentive considerations.

The novel Coronavirus (COVID19) and the harsh economic climate currently with us have made many of these businesses struggle and some have shut down due to these challenges which include perennial issues. That is, from infrastructure deficits (power, road, technology, and so on) to inconsistent government policies, security problems, multiple taxations, regulatory burdens, stiff competition from large companies, the entrepreneurial attitude of operators, huge financial and funding problems, lack of meaningful structure, longevity and succession plan among others. SME operators and entrepreneurs strive with different strategies and tactics to absolve many of these challenges and shocks to make any meaningful balance with little or no external support. However, the government needs to realise and recognise that small businesses are crucial to job creation, economic diversification, innovation, poverty reduction, wealth creation, and income redistribution in their policy-making activities. If this sector is well harnessed in Lagos state, it can be a huge catalyst in transforming the state economically.

The vivid truth is that a well-functioning SME sector would add more value to the economic fortunes of the state, sustain livelihoods, reduce poverty by creating more job opportunities in the economy than any other sector. Therefore, proper monitoring and evaluation of this sector are crucial for the economic development of Lagos state. When businesses survive, there will be a reduction in market failures and the more businesses are without survival threats the government can equally benefit from their growth and development. It can increase tax receipts and accelerate the growth of industrialisation in the state.

Therefore, the Lagos state government should focus more on policies and programs to widen the SMEs’ involvement in the formal sector particularly the micro and nano businesses. The state government, through the appropriate ministry, can implement policies that will enhance ease of doing business in the state to attract operators from the huge unregulated informal sector to the formal sector. The informal sector in Nigeria refers to economic activities in all sectors of the economy that are operated outside the purview of government regulation. Therefore, policies to attract business formality should be considered and formulated, and also the capacity and sustainability of these SMEs, micro and nano businesses should be enhanced. Because if all these are set in place it will encourage the development of the formal sector of the SME sector in the state.

That said, key stakeholders such as the Small and Medium Enterprise Development Agency (SMEDAN), Nigerian Association of Small & Medium Enterprises. (NASME), Association of Small Business Owners of Nigeria (ASBON), Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Association of Micro Entrepreneurs of Nigeria (AMEN), The Lagos Chamber of Commerce and Industry (LCCI), Manufacturer Association of Nigeria (MAN), financial technology (FINTECH) associations, and groups in the organised private sector (OPS) advocate for ways government can create innovative measures to improve business formality, enable secured environment, improve on rule of law, encourage public-private initiatives, invest in infrastructure, and consider policies as the needed. Corruption has also remained a very serious problem that needs to be genuinely addressed because it can threaten any development policies and programs of the state.

The support of these teeming small, micro and nano businesses is also imperative and strategies to sustain their business operations should be key in the decision-making process of the government of Lagos. The National Bureau of Statistics suggested many Nigerian youths are unemployed, the majority of them can be meaningfully absorbed into this sector through self-employment, startups, and financial technology (FINTECH) if the SME sector is made viable with an adequate enabling environment.

In conclusion, the Lagos government should get more involved in the growth, development, and sustainability of SMEs within the state. More so, the state government needs to ensure the development and patronage of locally produced goods and content while putting in place adequate infrastructures. Besides corroboration with experts and consultants in the provision of external advice to government and these teeming small businesses on a range of topics such as strategy, having a business and organisational structure for business continuity, financial literacy, technology, and role of innovation to increase their output is equally significant. Concisely, going forward policies and programs of the government in the state should be rooted in deep rule of law, accountability, creation of a database on small business and uphold strict fiscal discipline. Good luck!

SOURCE: The Cable

FG Mulls Policy to Earmark Procurement Contracts for Women

The Minister of State for Industry, Trade and Investment, Mrs. Mariam Katagum, has said that the federal government is currently working on a policy that will earmark a certain percentage of public procurement for women owned businesses.

She also said all MSME groups and individuals would be granted level playing ground to apply and access government funding initiatives, particularly the MSME Survival Fund.

The minister spoke while she received the executive committee members of the NECA’s Network of Entrepreneurial Women (NNEW) Abuja, led by its
Chairperson, Mrs. Amina Zanna Ibrahim, on a courtesy visit to her over the weekend.

Katagum said: “Disabuse your minds about government contracts. We have this initiative that is going on about procurement processes for women.

“We are trying to take it at a policy level so that all these procurement processes will at least, try to earmark a certain percentage for women owned businesses.

“But we have to take it at the policy level because the men who are taking all the contracts will not want you to come and compete with them.”

However, the minister assured the women that the proposed framework will ensure that female entrepreneurs get a share of procurement contracts going forward.
She added that already, the Infrastructure Concession Regulatory Commission (ICRC) is currently working to ensure that women are considered in future procurement.

The minister also assured that all government’s funding interventions, particularly the MSME Survival Fund scheme, which was created to ameliorate the impact of the COVID-19 pandemic on small business, will be administered on a level playing ground so all applicants can get equal opportunities.

Katagum added that she will consider it a major, if applicant are able to access the funds on merits and without intermediaries or any kind of influence.

She said: “When we first started this MSME Survival Fund, I told the vice president that I would think I am successful by the number of people that would say, they didn’t know anybody or they heard this on the radio, or their friends told them or they saw it on the TV-and they applied and they got it.

“And we’ve got quite a lot of testimonies of people who even said their friends told them to apply and they said leave me alone; and then suddenly, they saw that their friends got it.”

She however, promised that her ministry will work with the group towards realising a common objective to advance the interest of women owned enterprises at all times.
Earlier, Ibrahim had conveyed the women’s visit to the minister, seeking for better collaboration to better collaboration with the ministry.

To group, among other things, sought to partner with the ministry in the areas of information on government’s interventions that could benefit women as well as capacity building.

SOURCE: THISDAY

SME Loan opportunity for Studentpreneurs in Enugu.

If you are a student of Peaceland College of Education, Enugu, don’t miss this opportunity to learn how you can get loans to run your business while in school, and how to participate in our Human Capital Development Programs.

Be at Mama Pia Auditorium by 10am today (Monday, 1st March 2021) as representatives from the Enugu SME Centre and VFDbank will be there to also teach you how to apply for SME Studentpreneur Loans at www.smevfdbank.com

If you know somebody that knows somebody in Peaceland College of Education, please tag them??

The SME Studentpreneur Loans is brought to you by the Enugu State Government.

Enugu SME Centre

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