The new members are expected to help small businesses
60 finance and project managers were inducted by the Institute of Development Finance and Project Management (IDFPM) on Saturday.
Speaking during the ceremony, Lucky Onmonya, Registrar of the institute, said that the IDFPM’s objective was to make Micro, Small and Medium Scale Enterprises (MSMEs) bankable.
Onmonya said that MSMEs ought to contribute immensely to wealth creation, employment generation, poverty reduction, production of primary products and services in the economy.
He said that MSMEs were the bedrock of industrialisation and the development of local entrepreneurship as they assist in output expansion and strengthening of industrial linkages.
“Majority of large and established enterprises started as micro small enterprises and grew into large ones over time.
“This was due to their strong strength of being very bankable and they have attracted funds from banks, investors and others.”
One of the inductees, Mr Emmanuel Irono, the President, Moir Global Development which is an NGO said that the country?s problem was indiscipline and lack of compliance to rules and regulations.
Irono said that the country had good financial institutions in place but lack of discipline to make them work was a major challenge.
He said that institute should ensure reengineering of the people to fight unemployment, poverty and to build local content capacity.
The theme of the conference and induction was: “The Role of Development Finance and Project Management in Sustainable Development”.
