Nairametrics
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home General News

Why MSMEs lack funding despite growing number of lenders -DBN

Damilare Famuyiwa by Damilare Famuyiwa
June 10, 2019
in General News, Politics
DBN, Tony Okpanachi, DBN's Lecture Series
Share on FacebookShare on TwitterShare on Linkedin

The Managing Director and Chief Executive Officer of the Development Bank of Nigeria (DBN), Tony Okpanachi, has revealed why Nigeria’s Micro, Small, and Medium Enterprises (MSMEs) sector is experiencing lack of funding despite the growing number of lenders in the country.

According to Okpanachi, the financing need of the MSMEs segment is quite huge. Specifically, it runs into trillions of naira, he said.

The DBN boss also claimed that the risk profile of MSMEs influences the lack of funding challenging the sector.

He added that the bankability of businesses in the MSMEs sector is another reason why funds are not accessible for operators.

“So I think that the market is quite huge in terms of the requirement for finance but there has to be a concerted effort to be able to meet that need. That is in terms of quantum and availability. The second part, which I talked about, is in terms of risk profile. Historically, most MSMEs are usually where most banks seem to have the number of non-performing loans. Because, historically, a lot of MSMEs start with their finance, and they fail.”

Adequate funding for MSMEs is sacrosanct: The role of SMEs in enhancing economic growth and development has, over time, been widely acknowledged globally. Economic wealth all over the world is created through enterprises and the expansion of their output.

SMEs contribute to the economy by creating value through the production of goods and services, thus enhancing the gross domestic product. They also generate employment by creating much-needed jobs in the economy, as well as expanding the export sector largely through linkages with large firms that produce for the foreign sector.

Lack of adequate funding has been one of the major challenges facing Nigerian SMEs. For a long time, entrepreneurs have lamented the lack of adequate provision of credit facilities. It is, therefore, a good thing that something is finally being done about the situation.

Related

Tags: DBNMSMEsOn the MoneySMEsTony Okpanachi

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Access Bank
Bankers Committee
Flowmono

Bfpeer
Mega Millions
FCMB
Ikeja Electrics
Zenith CEX
Kwakol Markets
First bank





    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Crestron, the Rolls Royce of home automation is taking the LucreziaBySujimoto to the next level
    • Gaming and education has a new name: RoboApe (RBA) is taking the crypto world by storm
    • The SWOOTs capitalization declines w-o-w by N23 billion

    Follow us on social media:

    Recent News

    Crestron, the Rolls Royce of home automation is taking the LucreziaBySujimoto to the next level

    Crestron, the Rolls Royce of home automation is taking the LucreziaBySujimoto to the next level

    May 22, 2022
    Gaming and education has a new name: RoboApe (RBA) is taking the crypto world by storm

    Gaming and education has a new name: RoboApe (RBA) is taking the crypto world by storm

    May 22, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Ranking & Reviews
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • General News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com