Sage Grey Technologies Limited has launched the TradePlus Marketplace, TradePlus Vendor Loan Scheme, and Isolo Tech Facility to support small and medium-sized businesses across the nation.
The unveiling of TradePlus MarketPlace and TradePlus Vendor Loan Scheme and the inauguration of Sage Grey Tech Isolo Facility were recently held in Lagos, according to The Punch.
The Managing Director of Sage Grey Technologies Limited, Mr Temitope Runsewe, said, “Our goal was to provide practical solutions through technology to create an immediate impact. With the TradePlus platform, we are confident that SMEs will gain more visibility, and the split functionality will allow them to sell in bulk. We identified a challenge in connecting rural sellers with urban buyers.
“Through this platform, retailers and SMEs can increase sales, and profitability, and even explore export opportunities. We have bridged the gap between trading and financing.
“Often, those who want to fund do not know how to do so, and those in need of funding do not know how to access it.”
“By creating a one-stop shop platform, we ensure that retail digital lending and inventory monitoring are streamlined. Nigeria is a vast country with significant challenges, and with many SMEs, the most effective way to reach them is through technology, which is the driving force behind our initiatives,” he added.
Meanwhile, an Investment and Technology Promotion Associate at the Investment and Technology Promotion Office, Lagos, Mrs Hyeladzira Battah-Mhya applauded the opening of the Isolo facility and other platforms, noting that they have the ability to provide SMEs and startups with capital and cutting-edge technology.
Battah-Mhya urged the firm to continue coming up with eco-friendly concepts to make a bigger difference and maintain its position as a leader.
In his remark, the Deputy Executive of the Nigerian Association of Small and Medium Enterprises, Mr Samson Gbadamosi, stated, “These timely initiatives support the marketplace by allowing SMEs to transact digitally with innovative technology. I hope they will be sustainable.”
He stated that a month earlier, NASME and Sage Grey Technologies Limited had inked a Memorandum of Understanding to offer bankable small and medium-sized enterprises (SMEs) in Nigeria loan facilities ranging from N500,000 to N5,000,000.
“This is a positive step. Many young entrepreneurs have great ideas but lack funds. However, SMEs need to be prepared for funding and bankability. Sage Grey’s efforts will set a standard for other organisations, improving the poor corporate governance currently seen in many SMEs.
“The world is going digital, and it is good for SMEs which helps to transact digitally in their comfort zone with innovative technology solutions across the globe,” Gbadamosi added.
According to data from the Small and Medium Firms Development Agency of Nigeria, as of December 2021, there were at least 39,654,385 micro, small, and medium-sized firms (MSMEs) in Nigeria. This is a 4.5 percent reduction from 41,543,028 MSMEs in 2017.
