Recently, Sage Grey Technologies Limited introduced initiatives such as the TradePlus Marketplace, TradePlus Vendor Loan Scheme, and Isolo Tech Facility to support Small and Medium-sized enterprises (SMEs) in Nigeria.
The launch event for the TradePlus MarketPlace and TradePlus Vendor Loan Scheme, along with the opening of the Sage Grey Tech Isolo Facility, took place in Lagos.
Mr. Temitope Runsewe, the Managing Director of Sage Grey Technologies Limited, highlighted the focus on leveraging technology to provide practical solutions that drive immediate impact. Through the TradePlus platform, SMEs are expected to enhance visibility and sales, particularly benefiting from the platform’s ability to facilitate bulk selling and connect rural sellers with urban buyers.
The platform aims to streamline retail digital lending and inventory monitoring, addressing the challenges faced by SMEs in accessing funding and efficiently managing their operations.
Mrs. Hyeladzira Battah-Mhya from the Investment and Technology Promotion Office in Lagos commended the initiatives, emphasizing their potential to bolster startups and SMEs through funding and innovative technologies.
She encouraged Sage Grey to continue developing sustainable ideas for a more significant impact and sustained leadership in the industry, especially during the current economic challenges affecting SMEs.
Mr. Samson Gbadamosi, the Deputy Executive of the Nigerian Association of Small and Medium Enterprises, praised the digital transaction capabilities and innovative technologies introduced by Sage Grey to support SMEs.
He highlighted a recent partnership between NASME and Sage Grey Technologies Limited to provide loan facilities ranging from N500,000 to N5,000,000 to viable SMEs across Nigeria.
Adejumo Atiba, a Non-Executive Director at Sage Grey Technologies Limited, underscored the importance of SMEs in driving economic growth in Nigeria, stressing the company’s commitment to supporting these businesses despite challenging economic conditions.
The TradePlus marketplace and the vendor loan scheme were cited as crucial tools for fostering market access and bridging working capital gaps, ultimately contributing to the expansion of the Nigerian economy.
As of December 2021, Nigeria recorded a total of 39,654,385 micro, small, and medium enterprises (MSMEs), indicating a slight decrease from 2017, as reported by the Small and Medium Enterprises Development Agency of Nigeria.