Businesses often rely on consultants or online tools to scale up, but these approaches have not always proven effective, leading to the need for specialised workplace learning platforms which can bridge this gap.
These views were expressed by Rebecca Harrison, CEO and co-founder of the African Management Institute (AMI), at the official launch of AMI’s Nigeria office on 26 September 2024 in Ikoyi.
The event, themed ‘Bridging the Gap: Key Insights from a Decade of Empowering SMEs,’ was organised in partnership with the Business Day Foundation, which brought together key players from the ecosystem to share insights on the journey of supporting entrepreneurs across Africa, particularly in Nigeria.
According to Harrison, “There are so many businesses, but they don’t have the tools….hence the need for the institute to empower entrepreneurs in Nigeria through its business workplace learning platform
Harrison emphasised that there are challenges faced by many businesses in accessing the necessary tools for growth and stressed the importance of offering practical support to Nigerian entrepreneurs. Sheila Ojei, AMI’s country manager, noted how AMI has supported small businesses across Africa.
Over the past decade, AMI has collaborated with various institutions, including the Bank of Industry (BOI), Lagos Business School, and USAID, to advance business development efforts. This work contributed to the creation of over 97,000 jobs, with a significant return on investment in terms of SME revenue. Women-led businesses, in particular, have played an essential role in job creation and economic growth.
A panel discussion followed, featuring Eke Hart, CEO of Harley Offshore Services Ltd, and Adeola Balogun, CEO of Limlim Food Production Company. Both entrepreneurs shared how these practical business tools had helped them overcome challenges.
During the event, insights gathered over the past decade in supporting SMEs were also shared.
These include the importance of tailored support, localisation, and investment in women-led businesses. A one-size-fits-all approach was found to be inadequate, and the need to adopt segmentation based on business needs which is critical for long-term impact.
The insights also emphasised the importance of using local knowledge and local languages to make interventions more effective.
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