The African Development Bank (AfDB) said it is investing about $500 million in the Development Bank of Nigeria (DBN). AfDB Vice President, Private Sector, Infrastructure and Industrialisation, Pierre Guislain, stated this in an interview with journalists in Abuja when he visited the DBN headquarters. He explained that $50m of the amount was invested in equity while about $450m was mapped out for loans that would be disbursed to SMEs in Nigeria through participating financial institutions. He also stated that the role of DBN in the micro, small and medium scale enterprises (MSMEs) sector was extremely important to the pan-African bank. He said AfDB was a founding partner of DBN, as well as one of the lenders to the bank, noting that the newly established wholesale finance institution started off well. “One of the main goals of AfDB is to support micro, small and medium enterprises across Africa. And providing a support at that level requires working with national ...

1. Know your customers The most important thing in marketing to any target group is first understanding who your customer is. It would be a disaster to attempt to sell to people you don’t know. A thorough target audience analysis is important to break into any market. The customer is the king, to serve the king, you must know the king. 2. Meet your audience where they spend their time The best way to connect with your target is to connect with them using platforms where they already spend their time. This include connecting with them online and offline if needs be. If your target can be connected with at conferences and events, go their to connect with them. If Linkedin is their thing, go there and connect with them. As much as possible, show up. 3. Use technology One smart and cheap way to market today is to use existing technology which are easier and cheaper. Use social media marketing, email marketing , content marketing tools, CRMtools etc. Be accessible via online platf...

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Starting a small business anywhere in the world can be a daunting and expensive venture. More so, in Nigeria, where most of the factors necessary to set up a business rests on the entrepreneur with little or no support from government institutions. Now that your business is set up, your next goal is to ensure that word about your business gets to as many potential clients as possible. For this to happen, you need a PR strategy that helps you achieve the required objectives without breaking the bank. Here are 8 essential tips to reach your target audience on a budget. Stay connected:  Getting your audiences to listen to you is quite simple. The secret is to craft a story around your brand – a story that audiences can relate to. Many PR experts describe this as ‘humanizing your brand’. This involves telling audiences about your brand essence, its backstory, and its overall mission with a view to building an atmosphere of trust. And since most people tend to do business only ...

Although the average Nigerian is a very traditional shopper (preferring to experience the product before paying for it), recent reports suggest that more Nigerians are embracing online shopping. This can also be seen in the emergence of multiple online shopping websites such as Jumia , Konga , Yudala and so on. In this all lies the concept of E-COMMERCE. According to a report released by Yudala earlier this year, recent reports show that the Nigerian e-commerce industry recorded a handsome $1.9b figure in 2016 and the figure is expected to reach an estimated $3.9b in 2020. At Red Star Express Plc, our E-Commerce Solutions Platform offers the best logistics solutions to e-commerce sites looking to expand their customer reach; both locally and internationally. Our services include both Prepaid and Cash-On-Delivery facilities , Drop-off and Pick-up Centres in all Central Business Districts nationwide , Consolidation and Retrieval services for your goods , and so much more. ...

In its continuing bid to  help boost small and medium enterprises (SMEs) in Africa, Facebook, last week, launched the Nigerian SME Council, first of its kind in the continent. Abi Williams, Facebook’s SMB Sales Manager, EMEA, noted at the launching that the Nigerian SME Council brings together Facebook Africa’s SME team and Nigerian business owners from a range of industries, in a partnership designed to provide better digital tools for business and customer growth. The Council is made up of a combination of 15 small-to-medium sized business owners in varying sectors and locations across Nigeria, including Lagos, Abuja and Enugu and Kano. Williams stated: “Small businesses form the backbone of most of the thriving economies in the world, driving sustainable growth and creating jobs, and those in Nigeria are no different. Facebook is strategically positioned to help SMEs grow their businesses, and with a vibrant SME sector, Nigeria was a natural choice in launching our very...