Stakeholders charge SMEs on governance structure, credit management

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Stakeholders, including the Lagos Chamber of Commerce and Industry (LCCI) and commercial banks, have urged small businesses

to embrace a strong governance structure and proper credits management to address funding gaps in the sector.

“The objective of this webinar is to provide a veritable platform to facilitate discussion and interface between managers of loanable funds and businesses, especially the MSMEs on the huge financing gaps that still exist in the economy despite the various intervention measures,” she said.

The Group Managing Director of Zenith Bank Plc, Ebenezer Onyeagwu, charged small businesses to be conversant with the five principles of credits to boost chances of accessing funding.Onyeagwu, represented by an Executive Director of the bank, Dr. Temitope Fasoranti, listed the five principles as character, capacity, capital, collateral, and conditions.

Source: News Formal (newsformal.com)

 

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