Wema Bank and the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) have joined forces to host the Naija Brand Chick (NBC) trade fair, aimed at empowering micro, small, and medium enterprises (MSMEs), particularly women-led businesses.
Scheduled for August at The Intercontinental, London, the NBC trade fair seeks to provide MSMEs with opportunities for market access and knowledge sharing, thereby expanding their reach and fostering business growth.
Speaking at a press conference in Lagos on Tuesday, Ayodele Olojede, Divisional Head of Retail and SME at Wema Bank, highlighted that the partnership with NBC is designed to boost intra-continental trade and increase investment by connecting Nigerian exporters with the global market.
According to the World Trade Organization, only 15% of businesses engaged in international trade are led by women, highlighting a significant gender gap in the industry. Olojede noted that the percentage of Nigerian women-led SMEs participating in international trade is likely much lower.
“In Africa, women produce only 25% of the total export value, despite making up 50% of the population. This indicates vast market opportunities that remain untapped,” Olojede stated. She added that the initiative focuses on integrating Nigerian businesses into the global value chain, facilitating foreign exchange collections through digital tools, and driving socioeconomic transformation for Nigerian women through enhanced business partnerships and shared market insights.
“As a purveyor of wealth for over eight decades, we understand that the economic prosperity of our people is directly related to ours. Africa, especially Nigeria, can only grow if we trade amongst ourselves and, more importantly, with other countries, regions, and continents,” Olojede expounded.
Charles Odii, Director General of SMEDAN, announced that the agency is exploring partnership opportunities with the Nigerian Postal Service (NIPOST) and DHL to reduce logistics and transportation costs for micro and small businesses in the country. He revealed that SMEDAN has been in talks with NIPOST and DHL to offer discounted rates for businesses, making it more affordable for them to move their goods.
Odii affirmed SMEDAN’s commitment to supporting local entrepreneurs by making it easier for them to transport their goods across the country at a lower cost. He also announced that businesses traveling to London for the NBC fair would have access to single-digit loans to support their participation in the international event.
