Sahara Group Foundation has signed a Memorandum of Understanding (MOU) with the Nigeria Philanthropy Office (NPO) to support Micro, Small, and Medium Enterprises (MSMEs) in targeted economic sectors.
This partnership aligns with Sahara Group Foundation’s commitment to promoting energy access and sustainable societies.
Ejiro Gray, Director of Governance and Sustainability at Sahara Group, highlighted that this collaboration will enhance entrepreneurship’s role in sustainable development in Nigeria, serving as a model for fostering the entrepreneurial spirit of African youth.
Ms. Thelma Ekiyor, Chairperson of the Nigeria Philanthropy Office, noted that the MOU and subsequent strategic projects would act as catalysts for significant job creation within the supported sectors. She stated, “This partnership aims to orchestrate high-level catalytic philanthropic and impact investing support for MSMEs operating in targeted sectors including fashion, furniture manufacturing, agro-processing, and renewable energy with significant potential for job creation.”
According to the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), MSMEs contribute about 48% of the national GDP but face challenges such as limited access to finance, stringent loan requirements, high-interest rates, inadequate infrastructure, and inconsistent power supply.
Chidilim Menakaya, Head of Programmes at Sahara Group Foundation, mentioned that the partnership aims to reposition and transform MSMEs through training, mentoring, and networking opportunities. Menakaya emphasized that Sahara Group Foundation’s programs provide platforms for sustainable growth for MSMEs, particularly in seed funding, finance, strategy, branding, scaling advisory, and opportunities for startups.
She added, “Through our extrapreneurship strategy, pan-African initiatives such as the Sahara MAD Challenge (formerly the Sahara Impact Fund) and the Making a Difference Around Africa initiative, we are creating essential platforms for driving sustainable MSME growth across the value chain to enable young entrepreneurs and startups to thrive and contribute meaningfully to socio-economic development.”
