EDRC, IEI Partner, Create a Curriculum for MSMEs on Insurance

Samuel Mobolaji

The Enterprise Development Centre (EDC) has embarked on a strategic partnership with International Energy Insurance (IEI) to develop a comprehensive curriculum and provide specialised training on risk management and Insurance.

The partnership, which was announced at the EDC office in Ajah Lagos recently with the commissioning of EDC Studio is also expected to create detailed case studies for real-world application.

IEI had sponsored the rebranding of EDC studio, enhancing its resources to better serve and enhance our facilities for the benefit of SMEs, adding that, this newly upgraded studio will serve as a hub for interactive learning and professional development.

According to the director, of the Programme and Partnership Enterprise Development Centre, Pan-Atlantic University, Dr. Olawale Anifowose, “this partnership signifies a significant step towards empowering SMEs with essential knowledge and tools to navigate risks and secure their future. EDC and IEI are committed to fostering a robust support system for small and medium enterprises through this innovative educational initiative.”

Speaking further, Dr Anifowose said: “I think this is a very welcome partnership and initiative with International Energy Insurance. As far back as 4 years ago, when we had the ENDSAR protest in Lagos states, I believe that the period was an eye-opener for many businesses because during those protests, many businesses were destroyed and the data is out there that showed that a large number of those businesses that had their stores, properties, and business destroyed were not insured.”

Enlightening some prospective Small and Medium Enterprises(SMEs), the managing director/CEO, of International Energy Insurance (IEI), Mr Olasupo Sogelola said, a study has shown that over 59.1 million Nigerians work in small and medium enterprises and micro, small and medium enterprises in the country

He added that over 41 million SMEs and MSMEs have been registered, therefore, a viable sector to look after.

“Apart from providing a dedicated insurance product and risk management strategies for these SMEs and MSMEs, the partnership also extended to the Clear Pay Microfinance Bank, our sister organisation providing funding support to them. We are, indeed, very excited by the opportunity this partnership has thrown up because several SMEs would not be bothering themselves about the risks that are associated with running day-to-day operations in Nigeria,” he pointed out.