Nigeria: 70 Percent of SMEs Lack Access to Medium-Longer-Term Finance - - Heritage Bank Boss

29 August 2014

Lack of access of medium to long term finance has been identified as factor militating against the growth of Small and Medium Scale Enterprises, SMEs.

Managing Director/Chief Executive Officer of Heritage Bank, Mr. Ifie Sekibo, who was a guest Speaker at the 2nd US-Africa Trade & Investment Forum/Africa Investment & Development Awards which took place at St. Regis Hotel, New York, USA observed that in Sub-Saharan Africa, SMEs are more credit-constrained and this typically affects growth possibilities as significantly low number of start ups who apply for financing actually succeed.

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