Procter and Gamble (P&G), and the Federal Ministry of Industry, Trade and Investment have signed a Memorandum of Understanding (MoU) to collaborate on a public-private partnership initiative to launch the SME Development Academy.
This strategic partnership will leverage the Ministry of Industry, Trade and Investment’s SME Academy Program, which aims at delivering structured skills training, advisory and mentoring activities and services for selected Nigerian owned SMEs within the SME Academy Program in order to enable better outcomes for the nation, communities and households.
The program beneficiaries would be taught on how to upgrade and expand their business processes to be able to compete on an international scale. Further, P&G will develop and promote leadership talent and human capital for identified high growth SMEs while providing formal training, mentorship and hands-on experience in business operations for these SMEs.
Speaking at the MoU signing ceremony, Temitope Iluyemi, Director of Government Relations Africa at P&G said, “This partnership demonstrates P&G’s commitment to be a force for good and a force for growth . We are committed to empowering SMEs and helping them get adequate skills for the success of their business. Our ultimate aim is to see small businesses grow and contribute to the overall growth of our Nation’s economy.
A lack of organizational capabilities is a major factor that can limit development in SMEs and we believe this is an opportunity to offer unique value towards the most pressing issues encountered by business owners”; she added.
Also speaking at the ceremony, The Honorable Minister of State, Federal Industry of Industry, Trade and Investment, Abuja, Hajiya Aisha Abubakar remarked, “SMEs have proven to be an important part of our economy, hence the need to help them scale up and achieve more. This partnership with P&G could not have come at a better time. The Ministry is pleased that this public private partnership will support the program of the government to train SME Academy participants on key financial management principles and expose them to financial literacy, improve their access to finance and promote business ethics”.
Procter and Gamble through various programs and partnerships over the years collaborated with private and government organizations to empower and develop capacity of Nigerians through collaborative projects with organizations like UNESCO, the Ministry of Education and other Women NGOS and foundations in different regions of the Country. Through these projects, the Company demonstrates its commitment to Nigeria and its economic developmnet.