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Nigeria’ s SME Sector Faces Obstacles

Nigeria’ s SME Sector Faces Obstacles

From The Guardian News

Stanbic IBTC is the first Nigerian bank to introduce psychometric testing as a tool for creating Small and Medium Enterprises (SME) Loans which enables the bank  to offer loans to SMEs that pass the test within 72 hours with minimal documentation. In this interview with BUKKY OLAJIDE,  Head of SME, Stanbic IBTC Bank,  Akintunde Oyebode disclosed that the success of SMEs means well being for Nigerians.

SMEs grow at almost twice the rate of GDP in most markets across Asia, Africa and Middle East, but the reverse is the case in Nigeria. What are the major issues stifling the growth of this important sector of Nigeria’s economy?

Read more at The Guardian News