Ahead of the Nairametrics MSME Award event slated for September 27, 2024, at the Civic Centre Towers, Victoria Island, Lagos, Heirs Heirs Insurance Group, MasterCard, and 15 other established partners have committed their support toward the upcoming event.
This prestigious award ceremony is designed to recognize and celebrate the organizations that have made a significant impact on the Micro, Small, and Medium Enterprises (MSME) sector in Nigeria. These organizations, through their partnerships and services, are essential to the continued growth and sustainability of the MSME sector in the country.
The Impact of MSMEs on the Economy
MSMEs are the backbone of Nigeria’s economy, contributing nearly 40% to the country’s Gross Domestic Product (GDP) and accounting for around 80% of employment.
Despite facing challenges like limited access to financing, infrastructure, and markets, MSMEs have remained resilient, creating jobs and driving innovation in various sectors. Over recent years, even as more than three million businesses were lost due to economic difficulties, employment in the sector increased by 3.5%, underlining the sector’s ability to adapt and sustain economic growth.
Given this vital role, the Nairametrics MSME Award aims to recognize the key players driving this growth, with a focus on financial institutions, fintech firms, and other organizations that provide essential services to MSMEs. Celebrating these achievements encourages continued investment and innovation in the sector, helping MSMEs to thrive and expand their contribution to Nigeria’s economy.
Key Sponsors and Partnerships
The success of the Nairametrics MSME Award is made possible through the support of leading organizations that are committed to empowering the MSME sector. These sponsors and partners provide critical financial services, digital infrastructure, and other solutions that allow MSMEs to overcome challenges and thrive in the Nigerian market. The key sponsors for the 2024 edition include:
- MasterCard: Enhancing payment systems and financial access for MSMEs.
- Heirs Insurance Group: Providing financial services and investment opportunities to support MSME growth.
- Airtel: Offering digital and connectivity solutions to enable MSMEs to expand their reach.
- Sterling Bank: Delivering specialized financial products and services for MSMEs.
- Access Bank: Supporting MSMEs with tailored financial services, including loans and advisory support.
- Polaris Bank: Offering financial tools and services that cater to MSMEs.
- Moniepoint: Providing innovative financial technology solutions for MSMEs.
- FintechNGR: Promoting the role of financial technology in empowering MSMEs.
- Heirs Insurance Group: Offering comprehensive insurance solutions to safeguard MSMEs.
- EFInA (Enhancing Financial Innovation & Access): Championing financial inclusion for MSMEs.
- SMEDAN (Small and Medium Enterprises Development Agency of Nigeria): Supporting MSMEs with advocacy and policy guidance.
- Hydrogen: Fostering digital transformation in MSMEs through innovative technologies.
These partnerships are crucial not only for the recognition of excellence but for providing the necessary resources for MSMEs to thrive in an increasingly competitive and digital global economy. By spotlighting the contributions of these key players, the awards encourage more innovation, investment, and collaboration within the MSME ecosystem.