Sage Grey unveils initiatives for SMEs in Nigeria

Sage Grey Technologies Limited has launched several initiatives aimed at bolstering Small and Medium Scale Enterprises (SMEs) in Nigeria.

The company unveiled its TradePlus Marketplace, TradePlus Vendor Loan Scheme, and Isolo Tech Facility, a 50-man customer care centre at an event held recently held on 31st July 2024 in Isolo, Lagos.

Speaking at the event, Temitope Runsewe, the managing director of Sage Grey Technologies Limited emphasised their commitment to leveraging technology to create immediate impacts. He introduced the Tradeplus online trading platform, designed to boost visibility for SMEs and facilitate bulk sales through split functionality.

“Through this platform, retailers and SMEs can increase sales, and profitability, and even explore export opportunities. We have bridged the gap between trading and financing. Often, those who want to fund do not know how to do so, and those in need of funding do not know how to access it.”

He added that in partnership with Sage Grey Finance Limited, the company created a ₦100 million Vendor Loan Fund which allows registered vendors on the Tradeplus marketplace to access funding up to 70% of their total inventory value, with each facility capped at ₦1 million only and repayable over 3 calendar months.

Read also: FG to empower SMEs through new initiative to boost innovation

Hyeladzira Battah-Mhya, Associate of the Investment & Technology Promotion Office, commended the launch of the Isolo facility and other platforms for their potential to support startups and SMEs with funding and innovative technology. She encouraged the continued development of sustainable ideas to alleviate the financial difficulties faced by SMEs.

Also speaking, Samson Gbadamosi, deputy executive of the Nigerian Association of Small and Medium Enterprises, praised these initiatives for enabling SMEs to transact digitally.

Adejumo Atiba, Non-Executive Director of Sage Grey Technologies, emphasised the importance of SMEs to Nigeria’s economic growth and outlined the company’s commitment to supporting them despite economic challenges.

“Sage Grey Tech operates a 200-man customer support centre in Ibadan and has developed tech products including Splitmulti, Adzplug, and Proxze, all aimed at enhancing business efficiency,” Atiba said.