MICROCAPITAL BRIEF: Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) Signs “Memorandum of Understanding” with Six Microfinance Banks

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has signed a “memorandum of understanding” with six microfinance banks in order to facilitate the provision of microcredit for small and medium-sized enterprises across the country. The six microfinance banks that will receive grant money from SMEDAN are Misau Microfinance Bank in Bauchi, Kada Microfinance Bank in Kaduna, Safeline Microfinance in Abuja, KRGY Microfinance Bank in Jigawa, Atlas Microfinance Bank in Abuja, and Fahimata Microfinance Bank in Kaduna. Although they are listed on the Central Bank of Nigeria’s list of microfinance banks in the country, financial information is not available for these six banks. There is no information available on the size or timetable of the grants.

By Conner Brannen, Research Assistant

About Small and Medium Enterprises Development Agency of Nigeria (SMEDAN):

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) was established by the SMEDAN Act of 2003 to facilitate the development of the small and medium enterprise (MSME) sector of the Nigerian economy. SMEDAN works to improve access to the necessary information and resources for micro, small and medium entrepreneurs. There is no financial information available for SMEDAN.

Sources and Additional Resources:

The Punch: “SMEDAN signs MoU with six Microfinance Banks on micro-credit,” June 8, 2010: http://www.punchng.com/Articl.aspx?theartic=Art2010060814392470

MicroCapital Universe Profile: Small and Medium Enterprises Development Agency of Nigeria (SMEDAN): https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=%3A+Small+and+Medium+Enterprises+Development+Agency+of+Nigeria+%28SMEDAN%29

MICROCAPITAL STORY: Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and Microfinance Banks Association of Nigeria Partner Together in Nigeria?s Microfinance Sector, August 1, 2007: https://www.microcapital.org/microcapital-story-small-and-medium-enterprises-development-agency-of-nigeria-smedan-and-microfinance-banks-association-of-nigeria-partner-together-in-nigeria?s-microfinance-sector/

MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN) Organizes Mandatory Certification Training Program for Operators of Microfinance Institutions (MFIs), June 8, 2010: https://www.microcapital.org/microcapital-brief-central-bank-of-nigeria-cbn-organizes-mandatory-certification-training-program-for-operators-of-microfinance-institutions-mfis/

MICROCAPITAL BRIEF: President of the Nigerian Association of Small and Medium Enterprises (NASME) Cites Lack of Skilled Workers as Reason for Failure of Microfinance Institutions (MFIs) in Nigeria, May 25, 2010: https://www.microcapital.org/microcapital-brief-president-of-the-nigerian-association-of-small-and-medium-enterprises-nasme-cites-lack-of-skilled-workers-as-reason-for-failure-of-microfinance-institutions-mfis-in-nigeria/

MICROCAPITAL BRIEF: Nigerian National Association of Microfinance Banks (NAMB) Announces 10-Point Plan to Revitalize Microfinance Banks, May 19, 2010: https://www.microcapital.org/microcapital-brief-nigerian-national-association-of-microfinance-banks-namb-announces-10-point-plan-to-revitalize-microfinance-banks/

Browse the MicroCapital Universe and add your entry to the wiki https://www.microcapital.org/microfinanceuniverse/

Similar Posts: