‘37m SMEs can revamp economy’
….As NSE, Ciuci celebrate 10 successful SMEs
Nigerian Small and Medium Scale Enterprise (SMEs) have the potential to lift the nation’s economy as conglomerates of tomorrow spread across the globe from their point of listing on The Nigerian Stock Exchange (NSE).
This was disclosed Tuesday, in Lagos during the 10th year anniversary celebration of the Ciuci consulting, and launch of the Nigerian Business Composite10, powered by the NSE, as startups and
entrepreneurs were urged to tow high level of corporate governance standard, openness, build trust and credibility for people to buy into and invest in their ideas.
The CEO Nigeria Stock Exchange (NSE), Mr. Oscar Onyema, represented by Pai Gamde, Acting Head, Corporate Services, NSE lauded the launch of the NIBC10, brain child of Ciuci consulting as a welcome development to growing SME’s and entrepreneurial development in the country.
She said that the NIBC10, stands as celebration of business success of the SME’s in Nigeria and the possibility and probability of growth in the real sector of the economy driven by the SME’s.
She said that the recognition and celebration of the NIBC10 was aimed towards promoting and encouraging Nigerian entrepreneurs and enterprises. “SMEs drive economic development and Nigerian has over 30 million SMEs, which, if well harmonized, have the ability to further enhance the nation’s economy”
The ten companies recognize as NIBC10 are, Bestman games Limited founded by Nimi Akinkugbe,DBH Solutions limited founded by Dafydd BayleyHay and Oswald Osaretin Goubadia as well as Everyday supermarkets Limited founded by Charles Dimnwobi.
Others are Healthcare Leadership Academy, founded by Kelechi Ohiri, House of Tarah Internationals founded by Tara Fela-Durotoye, Iya Foods, founded by Toyin Kolawole, L’Avyanna Skin naturals, founded by Dr. May Ikeora and MASSEY Street Children Hospital, founded by Lagos state government.
The NIBC10 also include, Private sector Health Alliance of Nigeria, founded by Dr. Muntaqa Umar-Sadiqi and Ugo Monye Limited, a contemporary fashion brand founded by Ugo Monye.
The NSE, CEO urged the SMEs to take advantage of the Exchange’s Alternative Securities Exchange Market ASeM market, to access the conditions of listing and eventually list on the NSE.
“NSE gives the SMEs opportunity to raise long-term capital to enhance expansion and market growth. SMEs with proper governance can benefit from the ASeM segment, which welcomes companies with low capital base of between N5 billion to N13 billion.
Managing Partner, CIUCI Consulting, Chukwuka Muonye, in his address, said that the anniversary celebration and recognition of the 10 SME successful companies among the many others, was to show that private businesses can success , against the erroneous believe in many quarters to the contrary.
He said that CIUCI is consolidating its success over the years; and taking up opportunities so that the firm in the next five years would be positioned as one of the five most reputable consulting firms in the country.
Managing Director Initiates Plc, Mr. Nicholas Ossai, urged the entrepreneurs to remain focused and committed to ensuring right practices and building trust , for investors to take interest in their companies.
He said that doing business in Nigeria has remained challenging, but with determination and keeping to laws, good results would come.
He said,“When people put their trust in your idea by investing in your dream, your risk is already divided among the people that invested in your company.”
