The Enterprise Development Centre Partners With International Energy Insurance To Enhance SME Support

The Enterprise Development Centre (EDC) has partnered with International Energy Insurance (IEI) to empower small and medium enterprises (SMEs) with critical knowledge in risk management and insurance.

This strategic partnership between EDC and IEI is set to provide SMEs with the knowledge and resources they need to manage risks effectively, ensuring their sustainability and growth in the Nigerian market.
This collaboration aims to develop a comprehensive curriculum, provide specialised training, and create real-world case studies.

IEI has sponsored the rebranding of the EDC studio, enhancing its resources to better serve SMEs. This upgraded studio will act as a hub for interactive learning and professional development, providing SMEs with essential tools to navigate risks and secure their future.

Speaking on the development, Director of Programme and Partnership at EDC, Pan-Atlantic University, Olawale Anifowoshe highlighted the significance of this partnership.

“This partnership signifies a significant step towards empowering SMEs with essential knowledge and tools to navigate risks and secure their future. EDC and IEI are committed to fostering a robust support system for small and medium enterprises through this innovative educational initiative,” said Anifowose.

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Reflecting on past events, Anifowose mentioned, “As far back as four years ago, during the ENDSARS protest in Lagos, many businesses were destroyed, and the data showed that a large number of those businesses were not insured.

“This prompted the Enterprise Development Center to deepen our relationship with an insurance company that offers clear products and strategies for small businesses to embrace risk management.”

Also speaking, Managing Director/CEO of IEI, Olasupo Sogelola emphasized the importance of supporting SMEs. He noted that over 59.1 million Nigerians work in small and medium enterprises, and more than 41 million SMEs and MSMEs have been registered.

“Apart from providing a dedicated insurance product and risk management strategies for these SMEs and MSMEs, the partnership also extends to the Clear Pay Microfinance Bank, our sister organisation providing funding support to them.”

He expressed excitement about the partnership, stating, “We are very excited about the opportunity this partnership has presented because several SMEs will no longer have to worry about the risks associated with running day-to-day operations in Nigeria.”