Glovo Academy Empowers Nigerian SMEs, Highlights Sector Challenges
Glovo Academy, an initiative by the delivery company Glovo, has been empowering small and medium enterprises (SMEs) in Nigeria. The academy, which operates through Kaduna and Lagos Business Schools, recently held a capacity-building event in Abuja. This event, attended by government representatives and SME leaders, highlighted the challenges and solutions for Nigeria's SME sector.
The event emphasized the importance of digital literacy, formalization, and resilience for SMEs. Glovo Academy, since its launch in 2022, has trained over 1,000 local SMEs in Abuja, contributing over N11 billion in value. The training focused on operational excellence, marketing, and business literacy.
Glovo's impact on the Nigerian economy is significant. Since its launch in Abuja, it has delivered over 1 million orders and generated over N11 billion in value for its partners. The company has also seen a 30% year-on-year increase in orders, working with over 1,000 local restaurants. Glovo's investment in Africa totals 206 million euros, generating N55 billion in direct economic value for its partners.
The Special Adviser to the Minister of State for Industry noted that MSMEs contribute 40% of Nigeria's GDP. To support this sector, SMEDAN has announced initiatives including free registration for 250,000 businesses, sub-10% interest loans, and capacity-building programs. However, many SMEs still face challenges such as poor access to loans and lack of proper business structure.
Glovo Academy's efforts in Nigeria show the potential of empowering SMEs through capacity-building programs. With government support and initiatives like Glovo Academy, the future of Nigeria's SME sector looks promising. However, addressing the fundamental challenges faced by SMEs, such as access to loans and proper business structure, remains crucial for their growth and contribution to the economy.
