Friday, April 17, 2020 / 07:02 PM / NASD Plc / Header Image Credit: Businesstimeng
Post COVID-19 Pandemic - Funding For MSME: The NASD Enterprise Portal (NASDeP)
Micro, small and medium sized enterprises are the majors drivers of economies globally, and as such should command a significant amount of attention and resources from governments globally.
Developed countries across the world have realized the importance of MSMEs within the economy and have actively taken steps to ameliorate the impact of shocks such as a global pandemic on these essential growth drivers.
Historically, financing has been identified as a major challenge for MSMEs - especially in developing countries, even more so in times of economic uncertainty. It is no secret that MSMEs find it a lot harder to keep their businesses afloat compared to larger sized companies.
In view of this reality, the USA is taking steps to secure an additional $250bn to complement $350bn already budgeted as relief funds for MSMEs. Nigeria, however, is currently seeking approximately $7bn from the International Monetary Fund, World Bank and The African Development Bank to support the economy according to Zainab Ahmed, Finance Minister.
In the event of a successful fund raise from the above listed multilateral agencies, it is evident that $7bn would be insufficient to cater adequately to the needs of Nigeria and its MSMEs thereby creating the need for alternative funding solutions for MSMEs. One of such is the NASD Enterprise Portal (NASDeP) which we launched in 2018 to cater to high growth private enterprises.
NASDeP is an information repository which provides a platform for high growth MSMEs to access capital from private equity investors seeking investment opportunities. Transactions on NASDeP are seamless with an array of accredited due diligence professionals registered on the platform to handhold enterprises through the process.
At NASD we remain committed to facilitating growth within the Nigerian economy by addressing the funding deficit within the MSME sector. We believe that NASDeP would be ultimately beneficial to MSME's especially during this period and beyond. For further information on the NASD Enterprise Portal (NASDeP) kindly contact us on our help line or via email:
Market Activities - Week 16
The NASD OTC Security Index (NSI) and Market Capitalisation closed the trading week on Friday, April 17 2020, with no movement in Market capitalisation and NSI against preceding Thursday, April 09 2020. The NSI and Market capitalisation closed the week at 698.22 points and N512.89 billion respectively.
Market in Numbers (Year-to-Date)