The Enterprise Development Centre (EDC) has joined forces with International Energy Insurance (IEI) to provide small and medium enterprises (SMEs) with vital knowledge in risk management and insurance.
This strategic partnership aims to equip SMEs with the necessary tools to manage risks effectively, ensuring their sustainability and growth within the Nigerian market. The collaboration will involve developing a comprehensive curriculum, offering specialized training, and creating real-world case studies.
As part of this initiative, IEI has sponsored the rebranding of the EDC studio, enhancing its resources to better serve SMEs. The upgraded studio will function as a hub for interactive learning and professional development, providing essential tools for SMEs to navigate risks and secure their future.
Olawale Anifowoshe, Director of Programme and Partnership at EDC, Pan-Atlantic University, highlighted the significance of this partnership.
“This partnership signifies a crucial step towards empowering SMEs with the knowledge and tools necessary to navigate risks and secure their future. EDC and IEI are committed to fostering a robust support system for small and medium enterprises through this innovative educational initiative,” said Anifowoshe.
Reflecting on past events, Anifowoshe mentioned, “As far back as four years ago, during the ENDSARS protest in Lagos, many businesses were destroyed, and the data showed that a large number of those businesses were not insured. This prompted the Enterprise Development Center to deepen our relationship with an insurance company that offers clear products and strategies for small businesses to embrace risk management.”
Olasupo Sogelola, Managing Director/CEO of IEI, also emphasized the importance of supporting SMEs. He noted that over 59.1 million Nigerians work in small and medium enterprises, with more than 41 million SMEs and MSMEs registered.
“Apart from providing a dedicated insurance product and risk management strategies for these SMEs and MSMEs, the partnership also extends to the Clear Pay Microfinance Bank, our sister organization providing funding support to them,” said Sogelola.
Expressing excitement about the partnership, he added, “We are thrilled about the opportunities this partnership presents. Several SMEs will no longer have to worry about the risks associated with running day-to-day operations in Nigeria.”
