Total E&P/Fortis MFB mentoring seminar described as an exceptional model of SME development & access to funding

The all-important Mentoring Seminar put in place by Multinational oil giant, Total E&P in collaboration with Fortis Micro Finance Bank geared towards stimulating business growth, building capacities to support the economy and members of its host communities have been described as a unique model that will promote development of small and medium scale enterprises and seamlessly facilitate access to funding.

This was the wide consensus among over 150 participants and resource persons who attended the second edition of TEPNG/Fortis Micro Finance Bank mentoring seminar held at the conference hall of Port Harcourt Chamber of Commerce.

Making his remark at the event, the Business and Enterprise Development Manager of Total, Mr. Phillipe Desriac said Total has prioritized the development of small and medium scale enterprises as a panacea to building sustainable capacities, eradicating poverty and creating strings of employment to stimulate the local economy.

Mr. Desriac disclosed that in spite of giving out loans to new beneficiaries and mentoring them to grow, the seminar is exclusively prepared to enable pragmatic beneficiaries’ opportunity to develop, apply leading edge knowledge; experience and a new paradigm from renowned resource persons to support their business evolution.  “This event prepares participants to employ, instead of begging to be employed, remind beneficiaries that loans are strictly for business and for participants to acquire business expansion ethics and networking in a highly charged workshop climate that will help flourish their businesses” he said.

According to him, TEPNG have worked hard over the past three years to establish a strong valuable loan program for Egi land, one of the host communities of Total. The company’s mandate according to him focuses in the promotion of economic development of Egi community and creating valuable dialogue with Egi people to help drag down local and global barriers and build progressive bridges.

“TEPNG in collaboration with Fortis Micro Finance bank is committed to fostering a difference in her areas of operation by promoting development and economic empowerment, providing the knowledge needed to face challenges, helping to achieve sustainable development and breaking the barriers to economic growth.

This is exactly what this program is all about”, he said, pointing out that as borders disappear, the freedom of movement of people and business can grow at a spectacular pace. “In today's open society, the Total and FORTIS collaboration will continue to play the crucial role of developing and providing the latest knowledge that is needed and that is why we are today together” Mr. Phillipe Desriac was quoted as saying.

In his remark the Managing Director of Fortis Micro Finance Bank, Mr. Tiko Okoye said Fortis collaboration with Total to provide loan for its beneficiaries has thrived over the years. ‘We kick started this collaboration on the 19^th of July 2015 and this mentoring seminar is timely as it provides another opportunity for stock taking to see where there are challenges and where amends are needed. Mr. Okoye described the TEPNG model of SME development as brilliant, saying it has encouraged entrepreneurs to become employers of labour, increased their self-esteem and become financially inclusive.

The Total/Fortis collaboration is basically to spur you to think out something innovative and valuable and support you to build capacity that will translate to ripple effect, he said, adding that a total of N30 million has disbursed to beneficiaries. He said it wouldn’t have been easy for individuals to get the loans seamlessly, but TEPNG has stood in gap for them.

This is one IOC I respect so much for sustainably funding enterprises and making them impact the society. I see the Total/Fortis collaboration as a match made in heaven. Total stand as surety for the needed loans from Fortis and provide platform to help build capacities of these beneficiaries through mentoring says Okoye.

The event featured presentations aimed at educating participants on the successful modules that can move their business forward. Director General of Port Harcourt Chamber of Commerce, Mr. Erasmus Chukunda spoke on the importance of the chamber of commerce in SME development and the need to join membership of a group.

President of Egi Chamber of Commerce, and PHCCIMA trade group chairman on SME’s, Mr. Chika Chinwah spoke on Sales management process as a major objective of business while Mr. Nnamemeka Akwarandu did a presentation titled ‘Relevance of Insurance to SMEs with regards to Business Growth and Expansion.

Others who presented include, Mr. Uche Aniche on Benefit of Internet Technology in Business development for SMEs, and demonstrated how the social media can guarantee traffic for your business. Mr. Ofon Udofia, a seasoned initiator of innovative practical ideas on export and executive secretary of the institute of export operations and management Nigeria spoke on Packaging and Developing Sustainable Business in Agriculture.

In his presentation Udofia disclosed that packaging for export is key to successful businesses. He said packaging must be functional, “apart from packaging the products, we must package ourselves to give identity to our products. He said we must modify our products and services to accommodate overseas market requirements and devote time, effort and resources to become a successful exporter.

Speaking on export he noted that there is huge potential in export, but however maintained that you don’t just crash into it, you must go through statutory and required ideologies to build capacity, develop products to breach the need and take advantage of the need value. He said we must focus on the need for quality and competitiveness of goods to meet global standard, harp on specialization to encourage expertise and also adapt to the need of the environment in packaging our products.

Although he said Export has it challenges like the huge gap in infrastructure, cost of energy among others the benefits according to him is always huge and enormous if you leverage on the opportunities inherent in the institute of export promotion which makes it more seamless and more educative.

Fortis bank also did presentation highlighting Simple and Practical Steps in Runing a Successful Small and Medium Scale Business and Meeting Requirement for Accessing Loans. There was an interactive question and answer session.

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