Wednesday , September 28 2022
Economic Recovery: Heritage Boss Makes Case for Creation of Viable Environment for SMEs, Young Entrepreneurs

Economic Recovery: Heritage Boss Makes Case for Creation of Viable Environment for SMEs, Young Entrepreneurs

The Managing Director/Chief Executive Officer, Heritage Bank Plc, Ifie Sekibo, has said that creation of opportunities, conscious inclusion of Small and Medium Enterprises (SMEs) and youth entrepreneurship are crucial in bridging the gap to attain sustainable solutions to economic recovery.

A statement from the bank on Friday titled ‘Sekibo urges govt., stakeholders to prioritise SMEs, youth entrepreneurship’ said he spoke at the 14th annual banking and finance conference of the Chartered Institute of Bankers of Nigeria with the theme, ‘Economic recovery, inclusion and transformation: The role of banking and finance’.

According to him, one of the key areas where government, financial institutions and other stakeholders could move the nation from poverty to prosperity was through conscious creation of viable environment for small businesses and young entrepreneurs to thrive.

He said this was because they were the backbone of local economies around the world and they happened to be the biggest employers, job creators and contributors of the national gross domestic products.

The managing director said, “We cannot talk about moving from poverty to prosperity without taking SMEs very seriously in this country.

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“We must support the SMEs sector reform through providing infrastructure, providing loans to farmers and ensuring interest rate loans is single digit.”

Sekibo who was represented at the conference by the Regional Head Abuja-1, Daniel Oniko, stated that giving SMEs and young entrepreneurs leverage to contribute immensely to the development of their host community through engaging the youths and unemployed individuals would bring about and facilitate economic recovery.

According to him, the role of SMEs in creating and sustaining national development in relation to job creation had been considered a key tool in modern-day poverty alleviation, economic emancipation, and total well-being.

He stated, “One of Heritage Bank’s major cardinal points as a bank is supporting micro, small and medium scale businesses and our strong desire to see young men and women succeed in any area of their business.

This will help the society and economy to grow, thereby moving the nation from poverty to prosperity.”

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He noted that Heritage Bank was taking the lead through various initiatives such as its youth entrepreneurship development programmes which were aimed at increasing the contributions of the MSME segment to the economy.

About Bukola Olanrewaju

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