Sage Grey Technologies Limited has launched three groundbreaking initiatives aimed at boosting the growth of small and medium-scale enterprises (SMEs) in Nigeria. The company recently unveiled TradePlus Marketplace, TradePlus Vendor Loan Scheme, and the Isolo Tech Facility during a high-profile event in Lagos.
These initiatives address key challenges faced by Nigerian SMEs, including market visibility, access to finance, and technological infrastructure. The move comes at a crucial time, as recent data from the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) shows a 4.5% decrease in the number of MSMEs between 2017 and 2021.
Innovative Solutions for SME Growth
- TradePlus Marketplace: A digital platform designed to increase SME visibility and facilitate bulk sales, connecting rural sellers with urban buyers.
- TradePlus Vendor Loan Scheme: An integrated financing solution that streamlines retail digital lending and inventory monitoring.
- Isolo Tech Facility: A state-of-the-art technology hub to support startups and SMEs with innovative tech solutions.
Temitope Runsewe, Managing Director of Sage Grey Technologies Limited, emphasised the company’s commitment to leveraging technology for immediate impact. “Our goal is to provide practical solutions that create tangible results for SMEs,” Runsewe stated. “Through the TradePlus platform, we’re not only increasing visibility but also opening up new opportunities for bulk sales and even exports.”
Industry experts applaud the initiative
The launch has garnered praise from industry experts and government officials.
- Hyeladzira Battah-Mhya, Investment and Technology Promotion Associate at ITPO Lagos, commended the initiatives for their potential to alleviate financial difficulties faced by SMEs in the current economic climate.
- Samson Gbadamosi, Deputy Executive of the Nigerian Association of Small and Medium Enterprises (NASME), highlighted the timeliness of these digital solutions. He also revealed a recent MoU between NASME and Sage Grey Technologies to provide loans ranging from ₦500,000 to ₦5,000,000 to eligible SMEs across Nigeria.
- Adejumo Atiba, Non-Executive Director of Sage Grey Technologies Limited, underscored the critical role of SMEs in Nigeria’s economic growth and job creation.
Bridging the Gap in SME Financing
The TradePlus Vendor Loan Scheme addresses a significant pain point for SMEs: access to finance. By creating a one-stop-shop platform, Sage Grey Technologies aims to simplify the process of obtaining funding and managing inventory.
“We’ve bridged the gap between trading and financing,” Runsewe explained. “Our platform ensures that those seeking funds can easily connect with potential lenders, while also providing tools for effective inventory management.”
Looking Ahead: Sustainable Growth for Nigerian SMEs
As Nigeria’s SME sector faces challenges, including a recent decline in numbers, initiatives like those launched by Sage Grey Technologies offer a beacon of hope. By combining digital marketplace solutions with accessible financing and technological support, these programs have the potential to drive sustainable growth in the SME sector.
Industry leaders are calling on other organisations to follow Sage Grey’s lead in supporting SMEs, particularly in areas such as improving corporate governance and embracing digital transformation.
For more information on Sage Grey Technologies’ initiatives and how they can benefit your SME, visit company website – https://sage-grey.com/