The Managing Director of Moniepoint MFB, Babatunde Olofin, underscored the pivotal role of Micro, Small, and Medium-sized Enterprises in propelling a sustainable economy.
During this year’s World MSME Day, Olofin emphasized the
pivotal role of financial services in empowering Micro, Small, and Medium-sized
Enterprises globally..
He emphasized the significance of support from governments,
financial institutions, and consumers. He stated that partners such as
Moniepoint are crucial in establishing an environment that enables MSMEs to
invest, trade, and flourish in both local and global markets, thereby
harnessing developmental advantages.
In a statement released on Sunday, Moniepoint’s Managing
Director emphasized the crucial role of Micro, Small, and Medium Enterprises
(MSMEs) in the Nigerian economy. These enterprises serve as the backbone of the
nation, providing essential goods and services to millions of individuals
daily. The company’s unwavering commitment to its customers is to ensure their
satisfaction and success. As we commemorate World MSME Day, it is imperative to
recognize the tireless efforts, dedication, and resilience of MSMEs. Their
contributions drive economic stability, foster sustainable development, and
play a pivotal role in poverty eradication and enhancing the quality of life
for Nigerians.
“MSMEs are essential for creating local jobs and empowering
women, youth, persons with disabilities, and other vulnerable groups.
Celebrating MSME Day acknowledges that these agents of innovation, growth, and
sustainability hold the potential to unlock critical pathways for accelerating
SDG progress globally.
“On a day like this, we must renew our commitment to join
hands—agencies of government, private sector operators, and all stakeholders—to
continue supporting MSMEs through policies, funding, and capacity-building
initiatives. By empowering MSMEs, we pave the way for a more sustainable,
inclusive, and prosperous future for all, especially the coming generations”,
Olofin said.
From economic downturns to global crises, MSMEs have shown
remarkable resilience and adaptability, driving economic growth and development
across borders.
Moniepoint MFB, Africa’s fastest-growing financial
institution according to the Financial Times, has reaffirmed its commitment to
providing unparalleled support for MSMEs.
This effort, according to Olofin, aims to enhance its
capacity to achieve the Sustainable Development Goals while promoting
innovation, creativity, and sustainable business practices nationwide.
Olofin stated that, according to the United Nations, MSMEs
constitute over 90% of businesses and contribute 60-70% of employment globally,
accounting for 50% of the world’s GDP. These enterprises are crucial to the
global economy and provide sustenance to livelihoods, especially among the
working poor, youth, women, and vulnerable workers.”