Bank unveils logistics solutions to boost SMEs’ devt
ACCESS Bank Plc in partnership with one of the largest inbound logistics service provider, GMT Nigeria Limited has unveiled a scheme tagged FLOWS, aimed at helping small businesses and importers in Nigeria in addressing logistics challenges.
Indeed, the scheme is expected to assist businesses to save lead time on imported goods, management of total landing costs for any import, prepare efficient processing of all documents relevant to the specific import such as Form M, permits, statutory payments among others, The Managing Director, Access Bank Plc, Herbert Wigwe, stated that the scheme is a unique combination of import financing and logistics services and provides an end-to-end management of the entire importation process. Wigwe during the launch of FLOWS, pointed out that the initiative provides importers with optimised landed cost of goods whilst guaranteeing the shortest lead time for the entire importation process.
Meanwhile, the Managing Director added that that FLOWS is the first effective cost efficient scheme targeted at SME importers for financing, logistics and warehousing services. According to him, SMEs contributes over 50 per cent to our Gross Domestic Product (GDP) and also acts as a major driver for the nation’s economic growth. ”The opportunities in this sector are enormous. The financial sector can truly play a very important role in stimulating economic development by supporting and developing SMEs.
It is our belief that supporting SMEs financially, through advices and through FLOWS, we will be supporting economic growth in our country,” he said. He pointed out that FLOW can be used for the importation of non-perishable, fast moving and unrestricted goods. In his words, “SMEs impact to creation of job opportunities cannot be over-emphasized. If you look at companies around Nigeria, 96 per cent of them are SMEs.
They are also the backbone of any economy and also provide raw materials to the large enterprises. But as important as this sector is, it still faces a lot of challenges including limited access to finance, among others.” “As part of our commitment to the economic development of Nigeria, we are working with our partners, GMT, Nigeria Limited to come up with FLOWS.
They have to combine our strengths with their global best practices. We are bringing financial services in terms of imports, and they are bringing their own capacity from a logistic standpoint to support SMEs. You will agree with me that this is truly a powerful combination,” he added. He said the scheme will reduce the lead time of imports thus, saving huge sums of money, while also stating that FLOWS is tailored to meet the dynamic needs of importers in trading, manufacturing, vendors of large corporate entities and owners of outlets. ”
With FLOWS, you are guaranteed that your products will be delivered to your doorstep or wherever you want it delivered. You are certain that the finances services provider and the strong logistics provider would have ensured the security as well as the integrity of the products delivered where you want in a much shorter time compared to when you do it yourself.
We have decided to carry out these burdens on your behalf. As a bank, we are extremely well positioned to meet your needs,” he stressed. Also speaking at the event, the Deputy Managing Director, GMT Nigeria Limited, Martin Thomle said the launch of the initiative has given GMT an opportunity to interact with a whole lot of customers the company has never had before. He said by partnering with Access Bank to launch FLOWS, the firm will ensure that SMEs are more attractive and also avail them the opportunity to get their products on time.
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