Sage Grey Finance Partners BoI To Expand Access To MSME Financing in Nigeria

Sage Grey Finance Limited, a leading financial institution committed to creating impact through lending, investments, fund management, and strategic advisory services, has partnered with the Bank of Industry to provide accessible and affordable financing options to Micro, Small, and Medium Enterprises (MSMEs).

The partnership, announced in Lagos, supports the Federal Government of Nigeria’s MSMEs Fund and is designed to foster business growth, job creation, and economic development by offering tailored financing solutions to MSMEs across Nigeria.

This landmark collaboration aligns with Sage Grey Finance’s mission to close the financing gap faced by small businesses and promote inclusive economic development across Nigeria.

The partnership also highlights the organisation’s dedication to identifying strategic partners and leveraging shared expertise to offer tailored financial solutions that foster sustainable business growth.

Speaking on the significance of the partnership, Mr. Jumo Atiba, Executive Director for Sage Grey Finance, emphasised the company’s continued focus on empowering MSMEs with the tools they need to succeed.

He said: “We are proud to partner with the Bank of Industry in this significant initiative to support the MSME sector. At Sage Grey Finance, we recognize the critical role MSMEs play in national economic development, and we are committed to providing financing solutions that help businesses scale sustainably. This partnership reflects our shared vision to stimulate job creation, foster entrepreneurship, and unlock economic potential at the grassroots level.”

According to a recent report by Stears, Nigeria’s MSMEs face a staggering $236bn funding gap and remain largely excluded from formal financial support despite their contribution to the economy.

Only a small fraction of Nigeria’s 40 million MSMEs have access to bank loans, leaving the vast majority to rely on informal, high-interest credit sources. Similarly, a 2024 report by PwC MSME Survey reveals that Nigerian MSMEs require an estimated $32.2 billion (₦13 trillion) in financing.

This substantial funding gap has hindered the growth and sustainability of small businesses, which are crucial to the nation’s economy.

Through this initiative, eligible MSMEs will be able to access loans of up to ₦5 million, at a competitive interest rate of 9% per annum.

Businesses will also benefit from complementary SME advisory services aimed at equipping them with the tools and knowledge necessary for sustainable growth and expansion. Loan processing and disbursement are structured to be completed within five working days, ensuring swift access to much-needed capital.

Since its inception, Sage Grey Finance Limited has remained committed to fostering financial inclusion and sustainable development through strategic partnerships.

In 2022, the company partnered with SPL Utorogu Limited to develop a $200 million gas processing plant, contributing to Nigeria’s energy security and economic growth.

Additionally, through its collaboration with the Wisewalk Foundation, Sage Grey supports trauma-informed counselling and empowerment programs for young people, fostering resilience and personal development.

Furthermore, its partnership with Balaah Hope Initiative for Child and Adolescent Health Limited GTE addresses critical societal challenges, with a focus on improving child and adolescent health while advancing several United Nations Sustainable Development Goals.

These initiatives reflect Sage Grey Finance’s dedication to empowering entrepreneurs, supporting youth development, and driving inclusive, sustainable economic progress across Africa.