The Enterprise Development Centre (EDC) has announced a strategic collaboration with International Energy Insurance (IEI) to create a comprehensive curriculum and specialized training programs on Risk Management and Insurance for small and medium enterprises (SMEs) and micro, small, and medium enterprises (MSMEs). This initiative also includes developing detailed case studies for practical application.
The partnership was unveiled at a recent event held at the EDC office in Ajah, Lagos, which also marked the commissioning of the newly rebranded EDC Studio, sponsored by IEI. This upgraded studio aims to enhance resources for interactive learning and professional development, providing a robust support system for SMEs.
Dr. Olawale Anifowose, Director of Programme and Partnership at the Enterprise Development Centre, Pan-Atlantic University, emphasized the importance of this initiative. “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.”
Reflecting on the partnership’s genesis, Dr. Anifowose noted, “The ENDSARS protests in Lagos four years ago were an eye-opener for many businesses, as numerous stores, properties, and businesses were destroyed, many of which were uninsured. This highlighted the need for better risk management strategies, leading EDC to deepen our relationship with an insurance company that offers clear products and strategies for small businesses.”
Managing Director and CEO of International Energy Insurance, Mr. Olasupo Sogelola, highlighted the critical role of SMEs and MSMEs in Nigeria’s economy. “Studies show that over 59.1 million Nigerians work in small and medium enterprises, with over 41 million SMEs and MSMEs registered in the country. This sector is vital and requires proper risk management and insurance strategies.”
In addition to dedicated insurance products, the partnership extends to Clear Pay Microfinance Bank, a sister organization of IEI, providing funding support to these enterprises. Mr. Sogelola expressed enthusiasm about the collaboration, stating, “We are excited by the opportunities this partnership presents, as it will help SMEs manage risks associated with their daily operations in Nigeria.”
For more information about the curriculum and training programs, visit the EDC website or contact the EDC office directly.
COMMENTS