Expert Harps On Proper Nurturing Of SMEs

An expert in the financial sector, Mr Kolfi Adomakor has said that Small Medium Enterprises (SMEs) need to be properly nurtured before being listed on the Nigerian Stock Exchange (NSE).
He said that there is need for more of the SMEs to be listed on the Nigerian Stock Exchange so as to enhance liquidity and depth in the market.
Ademakoh, the Director Project Finance of Afrexim Bank who disclosed this to airport correspondents in an interaction on Monday, noted that Exchanges must offer their expertise to SMEs in the area of advice and suggestions
He said that appropriate regulatory framework is needed from government and financial institution to support that segment of the market. According to him, if SMEs are structured in such a way that they will appear more attractive, with minimised risk profile, it will fast-track economic prosperity and ultimately generate more employment opportunities for the youths.
“SMEs should be ranked in order of performance to spur healthy competition among operators. Research and information is very crucial ingredients of the whole gambit of solutions to tackle SMEs constraints. “Exchange must engage consultants to gather information and continuously advise on a quarterly basis on what is happening in the SMEs space and in specific aspects of the business.
“For Afrexim Bank perspective, we, on a continuous basis, have solicited grants and also commissioned consultants to gather information and to continuously advise us through quarterly reports on what is happening in that space and in specific aspects of SMEs business”, he said.

By: Corlins Walter