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The Enterprise Development Centre (EDC) has announced a strategic partnership with International Energy Insurance (IEI).
This collaboration focuses on developing a comprehensive curriculum and providing specialised training on risk management and insurance, as well as creating detailed case studies for real-world application for Micro Small and Medium Enterprises (MSMEs) and other businesses.
The partnership was disclosed at the EDC office in Ajah Lagos recently with commissioning of EDC Studio.
Additionally, IEI sponsored the rebranding of EDC studio, enhancing its resources to better serve and enhance facilities for the benefit of SMEs. This newly upgraded studio will serve as a hub for interactive learning and professional development.
Director, Programme and Partnership Enterprise Development Centre, Pan-Atlantic University, Dr. Olawale Anifowose, said; “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.
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“I think this is a welcome partnership and initiative with IEI. As far back as four years ago, when we had the Endsars protest in Lagos State, I believe that that period was an eye-opener for many businesses because during those protests, many businesses were destroyed and the data is out there that showed that a large number of those businesses that had their stores, properties and businesses destroyed were not insured.
“It was that period that the EDC took it upon itself to ensure that we deepen our relationship with an insurance company that has a clear product and clear strategy for how small businesses can welcome and start to embrace risk management strategies that can help them to get back on their feet whenever there is a mishap.”
Enlightening some prospective SMEs, Managing Director/CEO,IEI, Mr. Olasupo Sogelola, said study has shown that over 59.1 million Nigerians work in small and medium enterprises and micro, small and medium enterprises organisations in the country and over 41 million SMEs and MSMEs have been registered, therefore, it is a viable sector to look after.
‘Apart from providing a dedicated insurance product and risk management strategies for these SMEs and MSMEs, the partnership also extended to the Clear Pay Microfinance Bank, our sister organisation providing funding support to them.
“We are, indeed, very excited by the opportunity this partnership has thrown up because several SMEs would not be bothering themselves about the risks that are associated with running day-to-day operations in Nigeria.”
