Connect with us

Uncategorized

FG Supports MSMEs with 15% Discount on Logistics Services

Published

on

Kindly share this post

The Federal Government, through the Small and Medium Enterprises Development Agency, has offered a 15 per cent discount on logistics to help small businesses cut their transportation expenses.

It said this was part of efforts to improve business conditions, expand sales, and lower operational costs for Small and Medium Enterprises in Nigeria.

This initiative, in partnership with the Nigerian Postal Service, aims to enhance business conditions, boost sales, and reduce operational costs and will commence on August 26.

Mr Charles Odii, the Director-General of SMEDAN, said this while signing a Memorandum of Understanding with the Postmaster-General of NIPOST, Mrs Tola Odeyemi, on Wednesday in Abuja.

Odii described the collaboration as a direct response to feedback from SMEs regarding the high cost of logistics and its negative impact on sales.

High transport costs severely impact MSMEs in Nigeria by escalating their operational expenses, which diminishes profitability and can limit their competitiveness in the market.

He said, “We are signing today an offer of 15 per cent discount on logistics for small businesses and maybe in another three months the postmaster can make it 50 per cent or review it better.

“This is the best time for this partnership, and in another three months, we are hoping that we can come back here and review what we have done.

“We will articulate clearly how much we helped small businesses in Nigeria save through our monitoring and evaluation department, and then we can continue to see how we can better this partnership.

He added, “The discount offer will commence on Monday, August 26, and will be available to SMEs registered with SMEDAN in two ways: online pickups and walk-ins,” Odii said.

According to him, the feedback received by the agency through its engagements with SMEs revealed that in some cases, the cost of delivery exceeds the cost of items, discouraging sales and limiting commercial opportunities for SMEs in their immediate environment.

The partnership will leverage NIPOST’s national presence and infrastructure, as well as its ongoing reform and modernization efforts under the leadership of Tola Odeyemi, the Postmaster General and CEO of the agency.

On her part, Odeyemi said the partnership was long overdue and would contribute to the achievement of inclusive economic growth, considering that MSMEs, which represent over 90 per cent of businesses in the country and contribute half of the GDP, serve as the backbone of the economy.

Through this partnership, both agencies will utilize their offices and stations nationwide to initiate, process, and fast-track deliveries, ensuring that small businesses can move goods to remote parts of the country efficiently, timely, and affordably.

“So, we are here to partner with you, to partner with your mandates for small and medium enterprises in Nigeria to come on board our platform, as it is a platform for inclusive economic growth.

“I know that this partnership is one for the ages, one that will spur Nigeria’s economic growth. Any MSME that is registered with SMEDAN gets access to a 15 per cent discount, and it runs as long as Nigeria runs.

“Although a 15 per cent discount might not look much, you have to realise that NIPOST prices are already socially oriented,” she said.

The postmaster said that through the partnership, both agencies would utilise their offices and stations nationwide to initiate, process, and fast-track deliveries.

“It will ensure that small businesses can move goods to remote parts of the country efficiently, timely, and affordably.

“To ensure a seamless and positive experience for SMEs, both agencies will maintain a dedicated customer support unit to respond to complaints and address any issues that may arise.

“This unit will provide prompt assistance, ensuring that SMEs can focus on growing their businesses without logistical hurdles.”

 


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Uncategorized

NCAA Enforces Penalties on Five Airlines for Passenger Rights Violations

Published

on

Kindly share this post

Nigeria Civil Aviation Authority (NCAA) has taken enforcement action against five airlines—two international and three domestic operators—for violations of Part 19 of NCAA Regulations 2023.

These breaches include failing to refund passengers within the stipulated timeframe, disregarding directives from the authority, mishandling luggage, issues with short-landed baggage, and problems related to flight delays and cancellations.

Michael Achimugu, NCAA’s director of public affairs and consumer protection, confirmed the development on Tuesday but declined to disclose the names of the sanctioned airlines.

Achimugu explained that while airlines are not always at fault for flight disruptions, NCAA regulations mandate specific actions they must undertake during such instances. Failure to comply with these directives results in penalties of varying severity.

Achimugu highlighted an uptick in passenger complaints about delays and cancellations, particularly during the festive season, with some disruptions attributed to harmattan-induced poor visibility.

“We all know that this is harmattan season, so there is poor visibility. Flights must get cancelled. This is force majeure, and the airlines do not owe passengers anything in those instances.

“The enforcement we are initiating today is on cases where the airline is deemed to have been at fault. More will come,” he said.

The NCAA plans to summon the chief executive officers (CEOs) of all airlines this week for a meeting to address flight disruptions and regulatory breaches.

Earlier, on December 10, the NCAA announced its intent to sanction airlines for delayed ticket refunds. Under Part 19 of the NCAA Regulations 2023, airlines are required to strictly adhere to refund timelines to protect passenger rights. Refunds for cash purchases must be made immediately and in cash, while electronic payments, including mobile apps and internet banking, must be refunded within 14 days.


Kindly share this post
Continue Reading

Uncategorized

Firm Partners Access Bank to Train Youths in Digital Skills

Published

on

Kindly share this post

NerdzFactory Foundation in collaboration with the Access Bank, has trained over 518 youths in digital skills. The two weeks virtual training, Youth Transition Program (YTP) 5.0, was meant to equip the youths for employment and digital skills and prepare them to excel in the competitive job market and unlock new economic opportunities.

Director of NerdzFactory Foundation, Ade Olowojoba, said the significance of the programme reflects the foundation’s mission to empower a new generation of leaders with the skills needed to thrive in an increasingly dynamic and digital global economy.

“Through initiatives like this, we are fostering innovation, resilience, and economic independence among young Nigerians,” he stated.

He disclosed that the programme succeeded in reaching its objectives.  According to him, participants reported increased readiness for the workforce, improved digital skills, and enhanced entrepreneurial capabilities, which have positioned them to secure quality employment and launch their ventures. The programme has demonstrated the transformative impact of focused skill-building initiatives.

“NerdzFactory Foundation and Access Bank reaffirm their commitment to expand the reach of the Youth Transition Programme to empower more young Nigerians with the tools they need to achieve lasting success and contribute to Nigeria’s sustainable economic development,” he said.

The director noted that the programme launched in response to Nigeria’s high unemployment rate, delivered comprehensive training to empower participants with practical job search skills, digital marketing expertise, and knowledge of leveraging digital platforms for economic growth.

During the programme, some of the sessions included webinars and a virtual bootcamp designed to help participants develop workplace skills such as CV writing, LinkedIn optimisation, and effective use of digital workspace tools.

“By fostering economic independence and resilience, YTP 5.0 aligns with the United Nations’ Sustainable Development Goals, particularly Goal 4, on quality education and Goal 8, on decent work and economic growth,” he stated.

 


Kindly share this post
Continue Reading

Uncategorized

Afreximbank and Ecobank Join Forces to Boost Trade and Compliance Across Africa

Published

on

Kindly share this post

African Export-Import Bank and Ecobank Group have embarked on a collaboration aimed at simplifying trade and compliance for businesses in Africa by integrating Ecobank’s Single Market Trade Hub and Afreximbank’s MANSA Digital Repository Platform.

With the collaboration, African businesses will benefit from seamless shared services across the two platforms, with users of the Single Market Trade Hub able to easily leverage MANSA’s comprehensive database for efficient know-thy-customer (KYC) and customer due diligence (CDD) checks while MANSA platform users would, in turn, be able to directly connect to the Single Market Trade Hub to explore trade opportunities to expand their businesses across Africa.

The Ecobank Single Market Trade Hub connects registered businesses across Africa on a single platform, helping them benefit from opportunities in the unified market of 1.4 billion people created by the African Continental Free Trade Agreement (AfCFTA).

It serves as a one-stop repository for the AfCFTA by providing small and medium-scale enterprises (SMEs) and corporates with insights about the agreement while its online match-making feature enables importers and exporters to upload their profiles and showcase goods and services they offer, or wish to source, with the aim of finding partners within Africa.

Once a match is found, connections are made via the platform and the transaction can be concluded leveraging on Ecobank’s trade and payment solutions in 35 African markets.

The MANSA Digital Repository Platform, or MANSA, is a one-stop-shop for due diligence matters on all African entities. As a centralised digital repository, MANSA seeks to eliminate information asymmetry and to increase intra-African trade and trade with the rest of the world.

It drives and promotes good governance culture among African SMEs and creates visibility for their businesses while also supporting African entities to expand, diversify and add value to their export products at both the local and international levels. Entities onboarded unto MANSA are allotted an Africa Entity Identifier (AEI) code which enables them to leverage other Afreximbank products and initiatives.

MANSA is also a key digital solution at the Africa Trade Gateway (ATG) marketplace which houses a suite of digital platforms designed as a single window to enable Afreximbank better deliver on its mandate, providing critical services to support and promote intra-African trade and the implementation of the AfCFTA. The platform enables African entities to accelerate their business activities at the ATG marketplace by working with verified information on trusted counterparties.

The new collaboration is, therefore, enabling Ecobank and Afreximbank to provide a central solution to the key challenge of KYC compliance and access to business across 35 countries in Africa. The improved interoperability is expected to further streamline cross-border trade and compliance in Africa, fostering greater financial and economic integration on the continent.

Afreximbank is a pan-African multilateral financial institution established to finance and promote intra- and extra-African trade.

Ecobank Group is a leading private pan-African banking group with unrivalled African expertise.


Kindly share this post
Continue Reading

Trending