The FATE Institute of FATE Foundation recently signed a Memorandum of Understanding (MOU) agreement with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to drive collaborative efforts between both organizations on the development of entrepreneurship and an enabling business environment for Micro, Small and Medium Enterprises (MSMEs) in Nigeria.
The FATE Institute which is the research, policy, and advocacy arm of FATE Foundation leading innovative thinking and creating platforms to enable idea exchange and problem-solving strategies around entrepreneurship in Nigeria will work with SMEDAN around data gathering, research, thought-leadership, policy dialogue, and policy advocacy, etc for Nigerian MSMEs.
Both organizations also signed a Memorandum of Agreement (MOA) to collaboratively develop a research report on MSME Competitiveness in Nigeria, providing an assessment of MSME Competitiveness across states in Nigeria while also sharing insights into key enablers of MSME Competitiveness in Nigeria.
Signing both agreements at the FATE Foundation office was Mr. Olawale Fasanya, Director General and CEO, SMEDAN, witnessed by Mr. Paul Ajudua, Principal Legal Officer, SMEDAN; and Mrs. Adenike Adeyemi, Executive Director, FATE Foundation, witnessed by Ms. Amaka Nwaokolo, Head, The FATE Institute.
Speaking at the signing, Mrs. Adenike Adeyemi lauded Mr. Fasanya’s passion for the MSME sector and thanked him for his support for FATE Foundation’s work over the years while also noting that she was looking forward to working with SMEDAN to improve outcomes for MSMEs through the partnership.
Also speaking at the signing, Mr. Fasanya emphasized the need for public-private collaboration with the private sector for synergy and for stronger impact within the entrepreneurship sector.
“On behalf of The FATE Institute of FATE Foundation, we are equally excited about this partnership to provide more empirical research on MSMEs in Nigeria and entrepreneurship at large and this is at the core of the institute. We look forward to a productive outcome”. Adenike Adeyemi said.
Also present at the signing were Ms. Blessing Sunday, Head of Comms and Marketing, FATE Foundation, Ms. Oluwaseun Oshoniyi, Head, Growth Support, FATE Foundation, and a few other members of the SMEDAN team.
Mr Fasanya during his speech said, “We are delighted to partner with FATE Foundation to develop a research report on MSME Competitiveness in Nigeria and I look forward to the outcomes of the research, which will further enhance plans to support Nigerian MSMEs to be as competitive as their counterparts abroad”.
FATE Foundation was founded in 2000 by Mr. Fola Adeola, Founder and Pioneer Managing Director, of Guaranty Trust Bank, with a mission to foster wealth creation by promoting businesses and entrepreneurial development among Nigerians
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