FG, P&G sign MoU on SMEs capacity development

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Image result for FG, P&G sign MoU on SMEs capacity developmentHomecare products maker, Procter and Gamble, has signed a Memorandum of Understanding with the Federal Ministry of Industry, Trade and Investment in a public-private partnership initiative to establish a Small and Medium Enterprises Development academy.

The academy aims to deliver structured skills training, advisory and mentoring services for selected Nigerian-owned SMEs, a statement indicated on Thursday.

It stated that the programme beneficiaries would be taught how to upgrade and expand their business processes to be able to compete on an international scale.

“Further, P&G will develop and promote leadership talent and human capital for identified high growth SMEs while providing formal training, mentorship and hands-on experience in business operations for these SMEs,” the statement read in part.

The Minister of State for Industry, Trade and Investment, Aisha Abubakar, was quoted as saying, “SMEs have proven to be an important part of our economy, hence the need to help them scale up and achieve more. This partnership with P&G could not have come at a better time.

“The Ministry is pleased that this public private partnership will support the programme of the government to train SME Academy participants on key financial management principles and expose them to financial literacy, improve their access to finance and promote business ethics.”

The Director, Government Relations  Africa at P&G, Temitope Iluyemi,  said, “This partnership demonstrates P&G’s commitment to be a force for good and  growth. We are committed to empowering SMEs and helping them get adequate skills for the success of their businesses. Our ultimate aim is to see small businesses grow and contribute to the overall growth of our nation’s economy.

“A lack of organisational capabilities is a major factor that can limit development of SMEs and we believe this is an opportunity to offer unique value towards the most pressing issues encountered by business owners.”


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