Edo State Government has finalized plans for a partnership with OZE, an international digital business firm, to boost trade and entrepreneurship development in the state.
At a parley with partners from OZE and other stakeholders in Benin City, the Managing Director of Edo State Investment Promotion Office (ESIPO), Mr. Kelvin Uwaibi, reassured that the Governor Godwin Obaseki-led government remains committed to providing an enabling environment for businesses to thrive.
Some stakeholders at the meeting included representatives from the various Ministries, Departments and Agencies (MDAs) in the state, including the Edo State Skills Development Agency (Edojobs); Ministry of Finance; ESIPO and the Ministry of Wealth Creation, Cooperatives and Employment.
The meeting was also a brainstorming session to map out strategies to ensure the success of Micro, Small and Medium Enterprises (MSMEs) and other businesses in the state.
According to Uwaibi, “It was observed that the rate of default in facilities supported by OZE to MSMEs is minimal. There was 97 percent rate of these businesses actually paying back their facilities.
“We want MSMEs in the state to improve on how to keep records of activities in their businesses, as this will benefit their business.
“OZE will be our private partner in our MSMEs clinics. We will need them to work with us to create more opportunities for MSMEs in Edo to access facilities. Gone are the days when people see facilities as national cake”
On his part, OZE’s Country Lead, Mr. Iyke Idupkaye, noted, “OZE is both an app as well as a platform. It is an application that provides entrepreneurs with a simple interface and process of inputting all the things they sell, expenses, activities, and transactions on a daily basis.
“It is so easy that it becomes a habit which is actually our goal to make them form the habit. One of the huge challenges with the entrepreneurs in Nigeria today is having accurate records. And today there is over N617.3 billion of unmet financing needed for MSMEs in Nigeria.”
