By Modupe Gbadeyanka
Surviving in a harsh business environment like Nigeria can be tough, especially when the cost of operations, including energy and others is rising amid a decline in the purchasing power of consumers.
On July 23, 2024, at 10 am, the chief executive of Rena Energy, Mr Abraham Mohammed, will teach small business owners how to save energy costs to remain afloat.
The energy will be the guest speaker at Ecobank Nigeria’s MySME Growth Series designed to empower small and medium enterprises (SMEs) in the country.
He will speak on the use of solar energy as an alternative source of power for businesses in Nigeria, particularly now that some businesses are folding up after they were moved to the Band A feeders by their electricity distribution companies (DisCos).
Customers in the Band A category pay N209 per kilowatt hour compared with customers in the Band B level, who pay about 68 per kilowatt hour.
Announcing the planned virtual conference in Lagos, the Head of SME at Ecobank Nigeria, Mrs Omoboye Odu, said it is one of the several ways the bank supports its customers, stressing that the choice of the topic and a subject matter specialist as a guest speaker underscores the importance of power to the growth and development of small businesses.
He explained that the conference would also explore energy challenges as they affect small businesses, the benefits of solar energy as an alternative source of power and how to transition to solar energy, adding that participants would also have the opportunity to ask pertinent questions.
“This is part of our commitment as a bank to empower SMEs through knowledge-sharing sessions, skills development, access to new markets and networking opportunities.
“We expect many Nigerians particularly those that are yet to have an account with us to do so and avail themselves of the opportunities and top-notch services that we offer,” she stated.
Ecobank MySME Growth Series which started in February this year is designed to empower SMEs across the country. It is part of the bank’s commitment to train over 1 million SME operators in various sectors of the economy in 2024.
The training will provide resources for starting a business, registration processes, industry insights, and essential considerations for running a business. The series covers key topics such as accounting, credit, sales & marketing, taxation, and inventory management.
Additionally, articles on key topics like increasing sales, advertising ideas, business management practices, case studies, and leveraging technology are also provided. Ecobank also plans to launch an SME Mentorship program to collaborate with successful entrepreneurs. Taken together, the MySME Growth Series reflects Ecobank’s dedication to fostering growth and success within the SME community.