In what is expected to build their capacity for export and boost the economy, Afreximbank and ImpactHER in partnership with the Lagos State Government, are training about 253 Small and Medium Scale Enterprises (SMEs) in export promotion.
After the training, 20 exceptional SMEs would be selected to participate in the Intra Africa Trade Fair, IATF in Algeria, scheduled for September, 2025.
Folashade Ambrose, Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, said at the training in Ikeja, said the objective was to expand the scope of SMEs in Lagos, just as she acknowledged the sector as a powerful tool for economic democratisation.
According to the commissioner, the training will put the SMEs in a position to better serve over 1.3 billion consumers, engage buyers, investors, partners, and policy influencers from across Africa.
“It is a bold step towards transforming Lagos-based businesses into globally competitive exporters, building wealth, creating jobs, and amplifying the economic prosperity of our great State and Nigeria at large.
“The concept of export readiness is not just a trending term; it is an economic imperative. In an era marked by regional integration and the operationalisation of the African Continental Free Trade Area (AfCFTA), we cannot afford to keep our vibrant enterprises confined to domestic markets. Our MSMEs must evolve from local champions to continental contenders.
“Nigeria, and Lagos State in particular, has long been regarded as the economic engine of West Africa. But being an engine is not enough if we are not propelling forward. This programme is the vehicle that will drive us into new markets, beyond borders, and into the centre of intra-African commerce.” she said
Ambrose appreciated Afrexim Bank and ImpactHER, noting that the partnership aligned with the T.H.E.M.E.S+ Development Agenda of Governor Babajide Sanwo-Olu’s administration, particularly as it relates to making Lagos a 21st-century economy and driving inclusive economic growth.
“Many of our MSMEs face challenges that hinder their access to global markets – challenges such as poor packaging, regulatory barriers, lack of export certification, limited financial literacy, and weak market linkages. This week-long training has been meticulously designed to demystify the export process, build practical skills, and create a clear pathway to cross-border trade participation,” she added.
Ody Akhanoba, director, SME Development, Afreximbank, who spoke virtually from Cairo, Egypt, said the training offers a critical value chain to drive export promotion across the continent of Africa.
Akhanoba disclosed that Afreximbank earmarked $18.7bn for SMEs on capacity training in 2024 for 27 countries, which included women and youths, stressing that for the year 2025, the bank has budgeted for over 3,000 SMEs for countries, 38 in Africa and seven in the Caribbean.
He described the training as a stepping stone for participating SMEs, saying those who are able to distinguish themselves would be carried along through to September and beyond
