The South East Business and Investment Summit (SEBIS) has announced plans to establish a $1 billion investment fund aimed at supporting Small and Medium Enterprises (SMEs) in Nigeria’s South-East region.
Igbofacts correspondent reports that Dr. Ifedi Okwenna, SEBIS Executive Secretary, shared the initiative during a meeting in Abuja with Mr. Darl Uzu, Lead Private Sector Partner of the Enyimba Economic City (EEC).
The fund, set to be deployed over the next five years, is part of SEBIS’s mission to empower South-East SMEs by facilitating growth and addressing structural challenges such as business planning and financing.
“This initiative brings together global investors to strengthen the South-East economy through SME development,” Okwenna said.
The summit, organized by EEC and scheduled for December 11-13 in Enugu, will connect Nigerian SMEs with counterparts from India and other international markets.
SEBIS is spearheaded by Continental Export Development Nigeria (CEDEN) in collaboration with the Infrastructure Bank of Nigeria and diaspora investment groups in Europe and America. Additional partnerships include South-East Chambers of Commerce and bilateral trade organizations.
Uzu highlighted the summit’s role in forming strategic partnerships and attracting international interest. “With over 100 Indian companies expected to participate, we’re fostering a collaborative environment for SMEs to gain skills, network, and access international resources,” Uzu said.
Additionally, SMEDAN’s Managing Director, Charles Odii, outlined similar efforts within SMEDAN, such as the creation of specialized hubs for fashion, woodworking, packaging, and recycling. “We’re working on replicating these initiatives across the country to support small businesses,” Odii stated, emphasizing SMEDAN’s support for skill-building and funding programs.
SEBIS’s agenda includes SME training sessions, networking opportunities, and a keynote presentation by the SMEDAN Director General on “Organised SMEs as a Bedrock of Increased Investment, Economic Stimulation, and Growth.”
