SMEDAN To Support 140 MSMEs With Loans
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced that it will provide loans to 140 small businesses, known as Micro, Small, and Medium Enterprises (MSMEs). This comes after Olam Agric donated mixers to help support 700 bakers and cake makers.
At a graduation ceremony for bakers in Abuja, SMEDAN’s Director-General, Charles Odii, shared the importance of supporting small businesses. He noted that Nigeria has a significant number of small companies, totaling over 39 million across various fields. He stated, “Olam’s support has added 140 women entrepreneurs to our community, and we are dedicated to helping them succeed.”
Odii promised that SMEDAN would assist these new bakers by registering them and offering loans, advice, and additional support. He also mentioned plans to work with Crown Flour to secure more funding for these businesses.
Bola Adeniji, the Head of Marketing at Olam Agric, emphasized the company’s mission to reduce poverty through their Crown Flour Initiative, which began in 2021. This program provides baking training to women to help them become financially independent. Adeniji noted, “This program empowers women and helps them achieve financial stability. Since we started, we’ve trained over 700 people in Lagos, Abuja, and Kano, with 140 of them graduating in Abuja.”
Abhishek Singh, the Business Head at Olam Agri in Nigeria, reinforced the company’s commitment to helping entrepreneurs by offering free training in baking, managing a business, and making a profit using the Olam Bake Well app. He added, “Our goal is to equip participants from different regions with the skills they need to succeed as entrepreneurs. We are determined to grow this program.”
Anil Nair, the Managing Director of Olam Nigeria, highlighted how the company’s work aligns with the government’s goals for economic development and empowering women through skill-building.
Chinwendu Ogu, the State Coordinator for the National Business and Technical Examinations Board (NABTEB), praised Olam Agri’s dedication to developing people’s skills. He said their partnership with NABTEB shows a strong commitment to Nigeria’s progress.
The collaboration between SMEDAN and Olam Agric reflects a shared vision to support Nigerian small businesses, encourage entrepreneurship, and promote economic growth.
