Olaoluwa: Non-financial support useful to scale SMEs
The Advisory Board Member at Woodhall Capital, Adejare Olaoluwa says though financial support is key to the growth of SMEs, non-financial aid is also important to enable the businesses scale their offerings, business model and value chain activities. In a chat with CNBC Africa, he notes financial institutions need to assist SMEs engage with relevant agencies to counter bottlenecks in the system.
Thu, 31 Oct 2024 14:21:58 GMT
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AI Generated Summary
- Woodhall Capital signs a $25 million agreement with Afra Zimbabwe to support SMEs in Nigeria.
- Financial and non-financial support are crucial for SMEs to scale their offerings and drive economic development through exports.
- Financial institutions play a vital role in connecting SMEs with relevant agencies to overcome export challenges and bottlenecks.
Woodhall Capital, a leading financial advisory firm, has recently made headlines by signing a $25 million agreement with Afra Zimbabwe to support Small and Medium Enterprises (SMEs) in Nigeria. This move is expected to provide a significant boost to SMEs in the country, facilitating their growth and expansion in various sectors. The Advisory Board Member at Woodhall Capital, Adejare Olaoluwa, emphasized the importance of both financial and non-financial support for SMEs to scale their offerings, business models, and value chain activities. In a recent interview with CNBC Africa, Olaoluwa highlighted the critical role that SMEs play in driving economic development, particularly through non-oil exports. He stressed the need for financial institutions to assist SMEs in engaging with relevant agencies to address bottlenecks in the export process. Olaoluwa also discussed the levels of support available from Woodhall Capital to help SMEs flourish, stating that the funds from the agreement with Afra Zimbabwe will be channeled through participating financial institutions in Nigeria to reach SMEs directly.
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