Business Regulations, Law & Practice | |
Business Regulations, Law & Practice | |
939 VIEWS | |
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Friday, November 22, 2019 / 03:00PM / CBi
Nigeria / Header Image Credit: CBi Nigeria
The MSME sector is the backbone of major
developed economies as well as important contributors to employment, economic
and export growth. In Nigeria, MSMEs contribute 48% of national GDP, account
for 96% of the private sector and 84% of national employment.
Despite
the significant contribution of MSMEs to the Nigerian economy, challenges
persist that hinder the growth and development of the sector. According to World bank estimates, as of 2012,
only 5 percent of SMEs have a loan, despite the fact that 80 percent of them
seek financing. Furthermore, financing constraints seems to depend on the size
of the firm. An estimated 59 percent of small firms report difficulties in
accessing finance compared to 35 percent of medium firms and 11 percent of
large SME firms. The major reasons for this level of
exclusion can be summarized into concerns regarding their internal controls and
concerns around their ethics and anti-corruption compliance.
It is on this backdrop, that the Convention on Business
Integrity (CBi)
and in collaboration with Action Aid and Lagos Chamber of Commerce and Industry (LCCI) invites
you to the unveiling of a unique solution
to these problems in form of a portal that prepares MSMEs to meet COSO 2013
standards on internal controls and to establish certifiable anti-bribery,
anti-corruption standards (ABAC).
This event will expound the benefits and provide access to the portal
to users, whilst serving as an opportunity to listen to the position of banks and other key
stakeholders on how to leverage this for MSME growth and survival.
Details of the Event:
Date: Monday, November 25th, 2019
Venue: Conference hall- Radisson Blu- 38/40, Isaac John,
Ikeja GRA, Lagos
Time: 9am- 1pm
To participate contact:
Yinka Johnson (07013715571) at yinka.johnson@cbinigeria.com
and
Kitan
Babalola (08067829272) at kitan. babalola@cbinigeria.com
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