Sage Grey Finance Limited enters into partnership with BoI to provide affordable financing to MSMEs across Nigeria

L-R: Ololade Pelujo Project Officer PSIP Directorate BoI, Adejumo Atiba, Executive Director Sage Grey Finance, Oluwakemi Adekunle Group Head, Interventions, Yinka Adegboye, Interventions BoI, Yemisi Johnson, Head, Advisory Sage Grey Finance, Omotayo Olutimehin Sectoral Loans and Interventions Division BoI

By allcitynews.ng

As part of efforts to fast track industrialisation goal of Federal Government,   and fill the $236bn funding gap confronting the sector, Sage Grey Finance Partners has entered into partnership agreement with Bank of Industry (BoI) to Expand Access to empower Micro, Small, and Medium Enterprises (MSMEs) Financing cross the country.

The initiative is also meant to supports the Federal Government’s MSMEs Fund and aims to drive business growth, job creation, and inclusive economic development.

The partnership is offers accessible loans up to N5 million, SME advisory services, and competitive nine per cent interest rates through the FGN MSMEs Fund.

Sage Grey Finance Limited, a leading financial institution committed to creating impact through lending, investments, fund management, and strategic advisory services.

The partnership with the Bank of Industry according to Sage, is also to provide accessible and affordable financing options to Micro, Small, and Medium Enterprises (MSMEs). The partnership, announced in Lagos, supports the Federal Government of Nigeria’s MSMEs Fund and is designed to foster business growth, job creation, and economic development by offering tailored financing solutions to MSMEs across Nigeria.

This landmark collaboration aligns with Sage Grey Finance’s mission to close the financing gap faced by small businesses and promote inclusive economic development across Nigeria. The partnership also highlights the organisation’s dedication to identifying strategic partners and leveraging shared expertise to offer tailored financial solutions that foster sustainable business growth.

Speaking on the significance of the partnership, the Executive Director for Sage Grey Finance, Mr Jumo Atiba, Executive, emphasised the company’s continued focus on empowering MSMEs with the tools they need to succeed.

“We are proud to partner with the Bank of Industry in this significant initiative to support the MSME sector. At Sage Grey Finance, we recognize the critical role MSMEs play in national economic development, and we are committed to providing financing solutions that help businesses scale sustainably. This partnership reflects our shared vision to stimulate job creation, foster entrepreneurship, and unlock economic potential at the grassroots level.”

According to a recent report by Stears, Nigeria’s MSMEs face a staggering $236bn funding gap and remain largely excluded from formal financial support despite their contribution to the economy.

Only a small fraction of Nigeria’s 40 million MSMEs have access to bank loans, leaving the vast majority to rely on informal, high-interest credit sources.

Similarly, a 2024 report by PwC MSME Survey reveals that Nigerian MSMEs require an estimated $32.2 billion (₦13 trillion) in financing. This substantial funding gap has hindered the growth and sustainability of small businesses, which are crucial to the nation’s economy.

Through this initiative, eligible MSMEs will be able to access loans of up to ₦5 million, at a competitive interest rate of nine per cent per annum. Businesses will also benefit from complementary SME advisory services aimed at equipping them with the tools and knowledge necessary for sustainable growth and expansion. Loan processing and disbursement are structured to be completed within five working days, ensuring swift access to much-needed capital.

Since its inception, Sage Grey Finance Limited has remained committed to fostering financial inclusion and sustainable development through strategic partnerships. In 2022, the company partnered with SPL Utorogu Limited to develop a $200 million gas processing plant, contributing to Nigeria’s energy security and economic growth.

Additionally, through its collaboration with the Wisewalk Foundation, Sage Grey supports trauma-informed counselling and empowerment programs for young people, fostering resilience and personal development.

Furthermore, its partnership with Balaah Hope Initiative for Child and Adolescent Health Limited GTE addresses critical societal challenges, with a focus on improving child and adolescent health while advancing several United Nations Sustainable Development Goals. These initiatives reflect Sage Grey Finance’s dedication to empowering entrepreneurs, supporting youth development, and driving inclusive, sustainable economic progress across Africa.

For more information, visit:  https://sage-grey.com/
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