In a move to improve access to finance for women led enterprises, Nigeria and Germany are strategizing to seal a strategic partnership aimed at improving credit financing and to Revitalise Nigeria Economy.
The Honourable Minister of Industry, Trade and Investment, Doris Uzoka-Anite stated this in Abuja during a bilateral meeting with the visiting German delegation, led by the country’s Minister of Economic Cooperation and Development (BMZ), Ms Svenja Shulze as a follow up of earlier deliberations on the sidelines of the G20 Investment Summit.
She further stated that the
partnership with Germany is aimed at developing Nigeria’s Small and Medium-sized Enterprises (SMEs) subsector, adding that a Memorandum of Understanding (MoU) would soon be signed by both countries in this regard to improve access to finance for women-owned enterprises.
Speaking further, the Minister said the collaboration will further enhance talent acquisition and challenge, and develop renewable energy, in line with Mr. President’s Renewed Hope Agenda, which partly aimed at industrialising the country.
Further more, she stated that supporting the SMEs could add about 55 per cent to the country’s Gross Domestic Product (GDP), adding that though both countries are currently having strong mutual beneficial relationship, but it could get better.
EarlierHer Excellency Ms Svenja Shulze, Minister of Economic Development and Cooperation said both countries had established cooperation in common interest, pointing out that there are currently over 90 German companies operating in Nigeria.
She attested to the abundance of creative young talents in the country, saying Nigeria’s security challenges can only be addressed by tackling the underlying causes, including jobs and education, rather than militarily.
Ms Schule stressed that Germany was looking forward to deepen cooperation with Nigeria.
Madarlyn Terhile-Sende
Principal Information Officer
February 7, 2024
