Under the arrangement, Ecobank is expected to make available
its various platforms and solutions to LSETF for prequalified MSMEs in Lagos to
drive attainment of the objectives as set out by LSETF and Ecobank Nigeria.
Commenting on the partnership, Executive Director,
Commercial Banking, Ecobank Nigeria, Mrs. Carol Oyedeji, said the collaboration
was in line with the bank's empowerment and entrepreneurship initiatives to
reduce unemployment in various parts of the country.
She stressed that the collaboration would be mutually
beneficial to both parties as it would achieve sustainable business growth and
overall skill development amongst MSMEs operating in Lagos state.
She pointed out that the partnership would engender
structured capacity building, technology skill acquisition, access to business
mentoring and access to finance.
Specifically, Oyedeji stated that, "We are currently
driving the African Union Initiative for MSMEs in Africa which includes a
structured training and mentoring scheme including financing for MSMEs under
the auspices of the Ecobank AUDA-NEPAD Academy.
"This initiative comprehensively covers the main
objectives of the LSETF's Intervention in the MSME space. Ecobank has been very
active in empowering existing and intending entrepreneurs all over the country
under the Ecobank agency banking proposition.
"This is intended to create additional revenue sources
for the entrepreneurs wherever they are. We are also disposed to admit all
eligible Lagos based entrepreneurs and intending entrepreneurs into this
growing agency banking network."
Also speaking on the partnership, the Executive
Secretary/CEO, Lagos State Employment Trust Fund, Mrs Teju Abisoye said:
"We are pleased to work with a leading Pan-African Bank with operations in
thirty (33) countries across Africa. Partnerships like this move us much closer
to our goal and I believe that the collaboration of the government and the
private sector is one that can defeat the scourge of unemployment,
exponentially expand the economy and improve the quality of life of our
people."