Firm Urges FG to Support SMEs

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Hamid Ayodeji

The Managing Director, U & I Foods and Bakery, Olanrewaju Ajayi, has advised the federal government to increase its support for small and medium scale enterprises (SMEs) in the country.

He also called on the federal government to create an enabling environment for small businesses.
The managing director said this during an interview with journalists in Lagos recently.

According to him, the harsh economic situation in the country was making it difficult for young entrepreneurs to thrive in business, despite various interventions from the government and private investors.

He pointed out that the government needs to grant zero per cent interest loans to start-ups to support their businesses.
He added: “The economic situation is not favourable; hence, it requires incentives for entrepreneurs to operate.

“We find it difficult accessing credit facilities from banks, which leaves us at the mercy of smaller financial homes who give us facilities at very high interest rate that eventually eliminates the purpose of growth.

“As a result of this some entrepreneurs have shut down production; some have downsized, while some of them have succumbed to the lure of irregular migration, because their businesses are barely functioning.

“I, therefore, appeal to the federal government, as a matter of urgency to come to our aid before the businesses of the young vibrant entrepreneurs who are the future of our economic sustainable economic development collapses.”
According to him, these could be achieved if the government introduces programmes and initiatives where loans are easily accessible by entrepreneurs.

become millionaires, creating jobs and we are particular with the values as against just money making platform,” he said.

The service would begin operations with 25 buses to ply the Ajah-CMS route and is equipped with modern payment solutions, including card payment and an in-app wallet to encourage cashless transactions that would help users plan their journeys not only on a daily basis, but weekly and monthly. The first set of users would enjoy two free trips on Ajah-CMS-Ajah pilot route after downloading the app.

Meanwhile, the Managing Director and Co-founder, Plentywaka, Johnny Enagwonor, has said the initiative was all about changing the transportation sector in Lagos, adding that Lagos residents would see another dimensions of modernised transport platforms.

“PlentyWaka is the next step for the future of the transport system in Lagos. Having access to safe, a convenient and accessible transportation option is crucial to reducing bad driving, related crashes, and possible eventualities.”

Anchor Insurance Launches New Insurance Products
Ebere Nwoji
Anchor Insurance Limited has launched travel and agricultural products targeted at deepening insurance penetration in the country.
The company’s Managing Director, Augustine Ebosa, at the unveiling of the product, noted that the approval of the products by the National Insurance Commission (NAICOM) provides opportunities for the firm to extend its services to customers.
According to him, for about 30 years that the underwriting firm has been in operations, it has been known for excellent service delivery to its teeming customers.
“As we officially launch these products today, let me, at the same time assure all potential customers of a seamless claims process which we are acclaimed for.
“We do not tell stories when genuine claims are reported to us. We assure you of the very best of service as you invest in our policies,” he said.
He noted that the travel insurance product running under an agreement with the Spain based MAPFRE ASISTENCIA, comes with different features and benefits.
According to him, it comes with a family plan which ensures that children between three months and 18 years traveling with their parents only pay half of the premium rate being charged.
“It further comes with premium discount package for group subscriptions. The group is expected to have a minimum of 10 persons.
“The discounts range from five per cent to 25 per cent according to the number of persons that make up the group.
“However, because of perceived risks associated with certain categories of age, the policy comes with variations in the premium charged to persons aged between 66 and 75 years, 76 and 80years and 81 years old where only the Schengen policy is available.
“The policy comes with three travel protection plans: Schengen, Worldwide and Worldwide 1,” he said.
On the benefits offered by the product, the Anchor Insurance boss, noted that they include, among others: Medical emergency assistance which includes medical expenses and hospitalisation abroad, emergency medical evacuation, repatriation of family member traveling with the insured, emergency return home following death of close relative, repatriation of mortal remains, among others.