Entrepreneurship: KOICA Nigeria signs MOU with Providus Bank to support SMEs growth

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By Blessing Bature

The Korean International Cooperation Agency (KOICA) Nigeria Office signed a Memorandum of Understanding (MOU) with Providus-Bank Nigeria on 29th November, to support the growth of SMEs in Abuja, through the Abuja Centre for Entrepreneur designed in collaboration with the Abuja Enterprise Agency.

Mr. Sungil Son, Country Director of KOICA Nigeria Office said KOICA will continue to engage with private sectors, exploring ways to provide a platform for young digital start-ups incubated through KOICA’s program.

This collaboration between KOICA Nigeria and Providus-Bank marks a significant milestone in fostering entrepreneurship, driving economic development, and addressing unemployment challenges in Nigeria. The partners look forward to a fruitful and impactful implementation of the Abuja Entrepreneurship Centre project, contributing to the growth of the SME ecosystem in Abuja and beyond.

KOICA’s Abuja Centre for Entrepreneur (ACE) Project is a 12 million USD project aimed at establishing cutting-edge digital hub tailored for start-ups and SMEs in Abuja which is to be implemented in hands with AEA (Abuja Enterprise Agency) from 2024 to 2028. Within the 5 years KOICA is planning to foster up to 2,100 digital startups assisting them with trainings, incubation, and funding opportunities.

Mr. Walter Akpani, Managing Director and CEO of Providus-Bank emphasized the bank’s dedication to promoting and expanding entrepreneurial activities through its diverse SME packages, saying the MOU signing ceremony, held at the Providus-Bank Corporate Office in Lagos, signifies Providus-Bank’s unwavering commitment to supporting entrepreneurs in Nigeria.