Nigeria: Deloitte Launches Initiative to Support SMEs, Others

3 August 2020

Deloitte Africa Leadership has launched the Deloitte Private in West Africa, a practice established to focus on serving SMEs), high net worth individuals, family-owned businesses and Private Equity houses.

The launch was held in partnership with the Nigerian Stock Exchange (NSE) under its Growth Board programme.

The Growth Board, launched in January 2020, is a specialised board for emerging businesses with high growth potentials, to encourage SMEs to get listed on the exchange.

A statement explained that Deloitte Private would provide value-added services to SMEs listed on NSE's Growth Board and private companies facing challenges affecting the future of their businesses.

Speaking on Deloitte Private Services and offerings, Chief Executive and West Africa Leader, Deloitte, Fatai Folarin, said: "small companies have the potential to become tomorrow's multi-nationals and entrepreneurs have the passion to become future business leaders."

He stressed the importance of SMEs to the economy and explained Deloitte's commitment to partnering with SMEs in Nigeria and across Africa to drive growth.

Folarin, also stated that the collaboration with the NSE on the initiative was essential to boosting investors' confidence and would ultimately accelerate growth in Nigeria.

In setting the context for the two-day event, Deloitte Private West Africa Leader, Linda Quaynor, indicated that the initiative was to demonstrate the commitment to SMEs by offering unique solutions through cost-effective delivery models that will enable them scale operations and future proof their businesses.

Also speaking at the event, Head, Primary Markets, Listing Business Division, NSE, Tony Ibeziako, provided insights into the operation of the Growth Board, including the importance of listing on the Growth Board and the benefits for SMEs.

The firm stressed that launch of the initiative would accelerate growth in the private market segment, support and build capacity for small businesses and help SMEs navigate the complexities in the operating environment to scale exponentially.

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