By Stephen Ubanna
In spite of the Wuhan Town in the Hebei Province of the Asian country of China emerged coronavirus, popular, COVID 19 , which had affected many sectors of the nation’s economy including the Banking sector, due to the lock down of the country since March, 2020, the United Bank For African, UBA, plc, a pan African Bank, have continued to think of ways to support and grow the Micro ,Small and Medium Scale Enterprises , MSMEs, across the African Continent.
The Bank may have been encouraged to do so because of its believe that MSMEs, are the engine of any developing economes. Given the importance attached to the MSMEs, the Bank, was said to have concluded arrangement to organise a Workshop for the Small Scale Entrepreneurs , this coming Wednesday.
Many believe that the Workshop is similar to the Tony Elumelu Foundation, popular, TEF, Entrepreneurship Forum, described as the Africa’s largest Entrepreneurship gathering. Elumelu, a notable Philanthropist and the Founder of TEF, incidentally is the Chairman of UBA.
The one day Workshop, The Value News, was informed ”is targeted towards honing the skills of the African Enterpreneurs as well as helping them fill the existing gaps that will help their business to thrive’’.
The Bank was said to have adequately prepared for the World class event as it has mobilised the professionals and other business leaders in various sectors of the economy to come together ‘’ to give an insight on the best practices of running and growing a business during turbulent time like the COVID 19, which is ravaging the global economy’’
A Statement by the Bank shows that ”the MSMEs event will hold via Microsoft Teams that will host the Professionals who will share their experiences which has been established as one of the major challenges that business owners face’’. The Workshop, an insider promised will be an eye-opener to the participants as the Professionals will be impacting their invaluable knowledge to them basically to ensure that heir businesses survive in this try trying time.
Chioma Ifeanyi-Eze, Founder of an Accounting Hub, who will take the first session of the Workshop is expected to give an insight and share her practical experience on Book Keeping and Accounting basics for Small Scale Enterprises while Emeka Amadi, the Pan African Bank Head of Tax Management will guide the participants through the practical steps on Tax Management for Small businesses.
Jude Anele, the Bank’s Group Head, Consumer and Retail Banking may have gladdened the heart of the potential Participants for the Workshop when he explained that the Bank has a ‘’deep passion to help MSMEs, which are the engine of any developing economy .
He suggested the need for the Entrepreneurs ’’to be armed with the basic necessary tools that will help galvanise their businesses’’. He stated that the regular MSMEs Workshop being hosted by the Bank was ‘’necessitated to assist both the Customers and non-Customers boost their businesses.
He disclosed that ’’UBA is committed to the overall growth of its Customers beyond Banking services’’ as it’s passion is hinged on ensuring that Customers and the Entrepreneurs run their businesses that ‘’can stand the test of time with the knowledge required to take their businesses to the next level’’.
He pointed out that since the ‘’modern day businesses requires that an average businessman regularly updates his knowledge to cope with the challenging economy, the Bank have no option but to organise the Workshop in order to equip the MSMEs owners with the necessary working tools to do their business.
Anele, the Bank , Group Head, Customer and Retail Banking, may have reminded the MSMEs owners that this is an internet /technology driven age and therefore, the need to sit up in order ’’to learn new ways of doing business and how to package their businesses, for increased patronage’’.
Michelle Nwoga, Group Head, Marketing and Customer Experience may have doused the fear being expressed in several quarters that the Workshop will only accommodate the UBA Customers and businesses when he said that ‘’it is also open to all business owners and leaders across the country’’.
Nwoga gave an insight that participants who register for the various sessions of the Workshops ‘’will be trained in record keeping , cost reduction, stock compiling, financial and taxation planning, maximising opportunities, financial planning and projections’’.
He was said to have told those that cares to listen that UBA is always on the lookout for top business personalities who are able to share their growth strategies with their upcoming business owners.
The UBA, Group Head, Marketing and Customer Experience, who has every reason to be happy said , ”the business leaders invited for the UBA, Wednesday MSMEs Workshop are experienced in every sense of the word and willing to share information with others on how to grow their businesses’’.
The Bank had signed a $100 million seven-year deal with the China Development Bank, CDB, on February, last year in order to help the MSMEs . The partnership, according to insider sources is expected to enhance the Bank’s capacity to provide the MSMEs owners with access to financial facilities in Nigeria and the eighteen African countries where it currently operates.
Kingsley Uzoka, the UBA Group Managing Director, had said that the deal will catalyse Africa’s Commercial and Industrial Develoment. Even , Tony Elumelu, the Bank Chairman, reportedly said during the deal signing ceremony that the $100 million ‘’will go a long way in helping African’s MSMEs to scale up’’.
He had said that the CDB, interest in supporting the MSMEs in the African Continent is in tandem with the Bank’s vision ‘’ to help grow businesses across Africa’’. There is no gain saying the fact that TEF, founded by Elumelu, the Bank Chairman, had started the groundwork to empower the MSMEs owners grow their businesses some five years ago.
The Foundation had committed $100 million to actualize its dream of giving funds directly to the 1,000 Entrepreneurs and additional 2,050 beneficiaries yearly for 10 years, supported by the Foundation partners across the African Continent.
The Foundation list of partners includeD the International Committee of Red Cross, ICRC, the United Nations Development Programme, UNDP, an agency of the United Nations, UN, Benin Republic, the government of Botswana, African Development Bank, ADB, and the Anambra state government
. Between 2005 and date, the total number of African Entrepreneurs that were said to have been empowered by the Foundation was about 7,520 according to insider sources. The beneficiaries were said to have been funded directly by the Foundation.
