The Economic Forum Series

24/12/2024

🎄 Merry Christmas from the Economic Forum Series® | Africa's Global Forum™ 🎄

As we celebrate this season of joy, peace, and reflection, we extend our warmest wishes to all of our partners, stakeholders, and followers.

The year has been one of collaboration, growth, and resilience, and we are grateful for the continued support of those working alongside us to drive Africa's transformation on the global stage.

May this festive season bring you and your loved ones prosperity, happiness, and peace. Here's to a bright and successful new year ahead, where we continue to break new ground in shaping the future of Africa's economy and global influence.

Merry Christmas and a Happy New Year from the entire Economic Forum Series® family! 🌟

23/12/2024

🚀 Opening Remarks: MSME FINANCE AWARDS 2024

The inaugural MSME Finance Awards 2024 event ceremony kicked off the evening with an opening speech by Jude Ndu', CEO, Economic Forum Media Limited owners of The Economic Forum Series ® EFS, an African Global Forum®

In his opening remarks, Jude harped on the crucial role that small and medium enterprises play in creating economic growth, innovation, and job creation. He highlighted the importance of creating an enabling environment where MSMEs could thrive through improved access to finance, strategic partnerships, and a supportive policy, legal and regulatory framework.

As we celebrated the outstanding contributions of MSMEs, we looked forward to the continued innovation of finance services that empower businesses to reach new heights.

🔗 We celebrated the spirit of entrepreneurship at the MSME Finance Awards 2024!

18/12/2024

🌟 : Arrival & Registration of guests at The MSME FINANCE AWARDs 2024 🌟

The stage was set, and the excitement was palpable as guests arrived for the highly anticipated MSME FINANCE AWARDS 2024! 🎉

Organized by The Economic Forum Series® in partnership with Nairametrics, this prestigious event celebrated the outstanding achievements of key players in the financial services sector across the MSME ecosystem.

As guests settled and prepared for an evening of insightful discussions, networking, and recognition, we are thrilled to be part of this celebration of innovation, resilience, and success. 🏆

It was an unforgettable journey that highlighted excellence and innovation! 🚀

16/12/2024

About - The Economic Forum Series® (EFS), an African Global Forum:

The Economic Forum Series is a premier platform that bridges the gap between innovation, policy, and economic transformation. Since 2018, we have empowered C-suite business leaders, policy decision makers, and visionaries to influence change, build impactful brands, and craft solutions for the world's most pressing economic challenges.

Key Features/Strategic Focus Areas:

📌 Policy Solutions: Crafting actionable frameworks to guide economic decision-making.

📌 Innovation Hub: Showcasing groundbreaking ideas and technologies that redefine industries.

📌 Brand Building: Providing thought leadership and visibility for businesses and organizations shaping tomorrow.

📌 Driving Impactful Change: Fostering collaboration to create sustainable, inclusive economic systems.

"Join us in shaping policies, driving innovation, and building a better economic future.

Connect with us at https://economicforumseries.com or attend our upcoming forums to be part of the change."

16/12/2024

Understanding Nigeria’s Tax Reform Bill: A Critical Perspective on Public Opinion

The ongoing debate surrounding Nigeria’s Tax Reform Bill has sparked a multitude of reactions, ranging from cautious optimism to outright rejection. As a platform dedicated to fostering economic dialogue, The Economic Forum Series® seeks to unpack the underlying issues, challenge prevalent assumptions, and encourage a more nuanced understanding of this pivotal legislation.

The Context: Why Tax Reform Now?

Nigeria’s fiscal environment is in a precarious state. The country faces mounting debt, a narrow tax base, and persistent revenue shortfalls. In 2023, the Federal Government reported a tax-to-GDP ratio of approximately 6%, one of the lowest in the world. By comparison, Ghana and South Africa stand at 13% and 27%, respectively. This reform aims to expand the tax base, reduce leakages, and ensure sustainable revenue generation for critical public investments.

However, many Nigerians remain skeptical, citing fears of increased tax burdens, misuse of public funds, and the timing of the reform amidst economic hardship. Are these concerns valid? Or are they missing the broader picture?

Challenging the Narrative: Key Questions

1. Is the Tax Reform Bill Anti-Poor?

A common critique is that the bill disproportionately impacts low-income earners and small businesses. While concerns about regressive taxation are valid, the bill includes provisions aimed at addressing these fears. For example, measures such as tax holidays for small enterprises and exemptions on basic goods aim to shield vulnerable populations. Could it be that the public’s apprehension stems from distrust in government implementation rather than the bill itself?

2. Are Tax Increases the Real Problem?

Opponents argue that tax hikes will stifle economic growth. Yet, Nigeria’s low tax-to-GDP ratio is symptomatic of under-collection rather than over-taxation. The focus of the reform is not just to impose new taxes but to enhance compliance, close loopholes, and bring the informal sector into the tax net. Could this be the structural adjustment needed to stabilize Nigeria’s economy?

3. What About Transparency and Accountability?

The elephant in the room is the government’s track record on fund management. Many Nigerians believe that increased revenue will not translate into improved public services. While this mistrust is valid, it underscores the need for parallel reforms in governance and transparency. Shouldn’t the debate, therefore, focus as much on mechanisms for accountability as on the tax bill itself?

4. How Do We Compare Globally?

Nigeria’s tax structure has long been out of sync with global best practices. For instance, the bill’s emphasis on taxing digital and international companies aligns with OECD recommendations and reflects the realities of a digitalized economy. Should Nigerians view this as an opportunity to modernize the tax system rather than resist change?

Moving the Conversation Forward

For Nigeria to achieve fiscal sustainability, reform is non-negotiable. However, the success of any tax legislation hinges on trust, inclusivity, and equitable implementation. Here are some actionable steps to bridge the gap between the government and the public:

1. Public Engagement: Policymakers must engage with citizens through town halls, social media, and public forums to demystify the bill and address misconceptions.

2. Phased Implementation: Introducing reforms gradually and prioritizing sectors with high revenue potential can mitigate immediate economic shocks.

3. Strengthened Oversight: Independent audit bodies and civil society organizations must play a watchdog role to ensure funds are used judiciously.

Conclusion: A Call for Constructive Criticism

The Tax Reform Bill is not without flaws, but outright rejection risks perpetuating the status quo—a system where few contribute, and many suffer the consequences of inadequate public services. The question Nigerians must ask is not whether to reform, but how to do so in a way that benefits all.

The Economic Forum Series® invites stakeholders to engage in informed dialogue and work collaboratively to shape a tax system that is fair, efficient, and inclusive. Only through collective effort can Nigeria unlock its full economic potential.

16/12/2024

🌟 Celebrating Excellence: The MSME Finance Awards 2024 🌟

The MSME Finance Awards shines a spotlight on innovation and impact in the financial sector, specifically tailored to the needs of Micro, Small, and Medium Enterprises (MSMEs). Here's why these awards are crucial:

🔑 Purpose

These awards honor organizations and institutions driving MSMEs' growth by improving access to finance through:

✅ Financial inclusion.

✅ Fintech innovations.

✅ Banking excellence.

✅ Government policy interventions.

✅ Legal and regulatory support.

✅ Capacity building and technical assistance.

🏛️ Origin

As a fall out of the highly regarded Annual MSME & Start-up Summit, curated by The Economic Forum Series® (EFS) since 2018, these awards have become a benchmark for excellence in the MSME financial sector.

Over the years, this platform has evolved into a benchmark for excellence in the MSME financial sector, recognizing and celebrating outstanding achievements, innovation, and impact.

These awards are not just an event; they represent a commitment to fostering growth, encouraging innovation, and empowering MSMEs—the backbone of our economy.

🎖️ Eligibility & Process

Open to the best in the industry, the selection process is merit-based and overseen by the Award Review Committee, chaired by:

- Economic Forum Media Limited

- And by an award review committee.

🤝 Organizers & Partners

Curated by The Economic Forum Series, with strategic support from Nairametrics, this platform celebrates the visionaries shaping the future of MSME finance.

By recognizing these innovators, the MSME Finance Awards is paving the way for a more inclusive and empowered financial ecosystem for MSMEs.

💡 Be inspired. Celebrate excellence. Drive impact.

27/09/2024

https://www.instagram.com/nairametrics/live/18041087645037891?igsh=MXY1Yzk0eTE2bHRvZw==

27/09/2024

We are live on YouTube

NAIRAMETRICS MSME FINANCE AWARDS 2024

23/09/2024

Dear Industry leader,

We are pleased to invite you to Join us at the Inaugural MSME Finance AWARDs Program, a conceptual idea, product and platform of The Economic Forum Series® (EFS') and convened in partnership with Nairametrics Financial Advocates Limited.

Endorsed by the office of the Vice President on MSMEs and Job Creation, Federal Republic of Nigeria and the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), the event will gather industry and business thought leaders in across banking, FinTech, insurance, payment services, development finance, civil societies, ministries, department and agencies of government (MDAs) etc.

The Economic Forum Series® (EFS) and Nairametrics have launched the Annual MSME Finance Awards Program to recognize and reward innovation in financial services, policy Interventions and regulatory support for Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. The awards ceremony will honor financial institutions, NGOs, and government agencies that have contributed to MSME growth and development.

Competitive award Categories include: Award for MSME Bank of the Year, Award for Best in MSME Financial Inclusion, Award for Best MSME FinTech Payment Platform, Award for Best MSME Insurance company of the year, Award for Best in MSME InsurTech category etc.

Join us in Lagos on September 27, 2024 at the Grand Banquet Hall of the Civic Centre where Winners will be announced at an illustrious event ceremony.

21/09/2024

🌟 Meet One of Our Special Guests of Honour: Mallam Dikko Umaru Radda, Ph.D., CON 🌟

We are excited to announce that His Excellency, Mallam Dikko Umaru Radda, Ph.D., CON, the esteemed Governor of Katsina State as one of our distinguished Special Guest of Honour at the MSME Finance Awards 2024!

Governor Radda has been a pivotal figure in the development of micro, small, and medium-sized enterprises (MSMEs) in Nigeria. With a distinguished career that includes serving as the Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), he has implemented numerous impactful programs aimed at empowering entrepreneurs and boosting economic growth.

Since assuming office as the Governor of Katsina State in May 2023, Governor Radda has continued to champion initiatives that support MSMEs, enhance agricultural productivity, and foster partnerships with both regional and global development partners.

18/09/2024

MasterCard and Airtel Smartcash Headline the 2024 Annual MSME Finance Awards!

We are excited to share that Mastercard and Smartcash Payment Service Bank (PSB) have been named Headline Partners for the Annual MSME Finance Awards 2024, taking place on September 27, 2024, at the Grand Banquet Hall, Civic Centre, Lagos.

This prestigious event, endorsed by the Office of the Vice President on MSMEs & Job Creation, aims to celebrate innovation, policy interventions, and regulatory support that drive financial inclusion and sustainable growth for Micro, Small, and Medium Enterprises (MSMEs) in Nigeria.

Key partners include SmedanGov, Federal Inland Revenue Service - FIRS, EFInA Nigeria, Association of Licensed Mobile Payment Operators, and FinTech Association of Nigeria, alongside Access Bank, Sterling Bank, and others—all crucial players in the MSME ecosystem.

The awards will spotlight institutions enhancing MSME financing access, promoting financial inclusion, and fostering capacity-building initiatives. With categories like MSME Bank of the Year and Best in MSME Financial Inclusion, we are eager to recognize the vital contributions of financial institutions, government agencies, and stakeholders.

Jude Ndu, CEO of Economic Forum Media Limited, emphasized the importance of this event, stating, “We are excited to celebrate the innovation and impact across the MSME financial services ecosystem.”

Join us in honoring those who drive growth and sustainability for MSMEs in Nigeria!

17/09/2024

🌟 Meet One of Our Special Guests of Honour: Charles Odii 🌟

We are excited to announce Charles Odii, DG/CEO, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), as one of our distinguished special guests of honour at MSME FINANCE AWARDS 2024.

Charles Odii has been a transformative leader in the MSME sector, driving initiatives that have created thousands of jobs and facilitated significant funding for small and medium enterprises across Nigeria. His commitment to empowering entrepreneurs and fostering economic growth is evident through his innovative programs and strategic partnerships.

Under his current leadership, SMEDAN has initiated several intervention policies, programs and projects, including a groundbreaking agreement with Sterling Bank to provide a 5 billion Naira fund at single-digit interest rates and several others.

17/09/2024

🌟 Meet One of Our Special Guests of Honour: Temitope Adekunle-Johnson, MFR 🌟

We are excited to announce Temitope Adekunle-Johnson, MFR, Senior Special Assistant (SSA) to the President, office of the Vice President on MSMEs and Job Creation, Federal Republic of Nigeria as one of our distinguished special guests of honour at the MSME FINANCE AWARDS 2024.

Temitope has been a driving force in the promotion and support of micro, small, and medium enterprises (MSMEs) across Nigeria. His dedication to job creation and economic development has made a significant impact on countless MSMEs businesses.

Under his stewardship, various intervention policies and programs (MSME Clinics and National MSME Awards) have been initiated to provide MSMEs with the needed resources, training, and market access to thrive. His hands-on approach and commitment to fostering a supportive environment for MSMEs have been instrumental in bridging gaps and creating opportunities for growth and sustainability.

15/09/2024

🎉 Recognizing Excellence at the MSME Finance Awards 2024! 🌍

The MSME Finance AWARDs 2024 brings together key industry sector players and business thought leaders across the broader financial services ecosystem who are dedicated to driving the growth and development of Micro, Small, and Medium Enterprises (MSMEs). This year's partners include leading organizations committed to fostering innovation, financial inclusion, and strategic support for MSMEs:

1. Mastercard – A global leader in payment technology and solutions.

2. Airtel Nigeria SmartCash – Delivering secure and convenient digital payment options.

3. Access Bank – A leading multinational bank supporting business growth.

4. Sterling Bank – A full-service national bank with a focus on MSME support.

5. International Energy Insurance Plc – Specializing in insurance for energy and general sectors.

6. The Alternative Bank – Providing alternative banking solutions for modern businesses.

7. Moniepoint – Offering comprehensive financial technology and business banking services.

8. Heirs Insurance Group – Innovating within the insurance sector as part of Heirs Holdings.

9. AXA Mansard – A key player in Nigeria’s insurance industry, part of the global AXA Group.

10. Hydrogen – Delivering innovative financial and energy solutions.

💼 These partnerships ensure a future where MSMEs thrive through strategic financial services and groundbreaking innovations.

🔗 Cast your vote for the awards here: http://nairametrics/efsmsmeawards2024

15/09/2024

🌟 Meet Our Keynote Speaker and one of the Special Guests of Honour: Dr. Zacch Adedeji 🌟

We are excited to announce Dr Zacch Adedeji, Executive Chairman, Federal Inland Revenue Service - FIRS will be joining us at the MSME Finance AWARDs 2024 as Keynote Speaker and one of the Special Guests of Honour!

Dr. Adedeji has been a trailblazer in Nigeria’s financial sector, leading reforms that have significantly impacted MSMEs across the country. Under his leadership, FIRS has simplified tax processes, making it easier for small and medium-sized businesses to comply, thrive, and contribute to national growth. His innovative strategies and dedication to fair taxation have resulted in enhanced revenue generation and a more transparent tax system.

Join Us for an Insightful Session

With his extensive background and dedication to fostering MSMEs, Dr. Adedeji’s keynote address promises to deliver invaluable insights on the future of entrepreneurship and business development in Nigeria.

📅 Date: September 27
🕔 Time: 5:00 PM
📍 Format: Hybrid Event (In-Person & Virtual)

Don't miss this chance to hear from one of Nigeria’s leading financial experts!

🔗 Register Here: https://bit.ly/msmefinanceawards2024

14/09/2024

🚀 Celebrating Excellence at the MSME Finance Awards 2024! 🌍

The MSME Finance Awards 2024 is set to honor outstanding contributions to the financial sector, with a focus on driving growth and innovation in Micro, Small, and Medium-sized Enterprises (MSMEs).

We're proud to highlight the institutional partners supporting this prestigious event, including:

1. Office of the Vice President on MSME & Job Creation, Federal Republic of Nigeria – A key player in supporting MSMEs and driving job creation initiatives across the nation.

2. SmedanGov – A leading organization dedicated to the growth and development of MSMEs in Nigeria.

3. Federal Inland Revenue Service - FIRS – Ensuring responsible tax administration for the financial ecosystem.

4. EFInA Nigeria – Championing financial inclusion and innovation.

5. Association of Licensed Mobile Payment Operators – Promoting mobile financial services through licensed mobile payment operators.

6. FinTech Association of Nigeria – Pioneering innovation in financial technology.

Don't miss the chance to vote and support the growth of MSMEs! Visit the link below to cast your vote and learn more about the event.

🔗 Voting Link: http://nairametrics/efsmsmeawards2024

14/09/2024

🌟 Mastercard and Airtel Smartcash Headline Inaugural MSME FINANCE AWARDs! 🌟

Join us for an evening of celebration and recognition at the MSME Finance Awards 2024.

📅 Date: Friday, Sept. 27th, 2024
📍 Venue: Civic Center, Ozumba Mbadiwe, Victoria Island, Lagos
⏰ Time: 5pm prompt

Don't miss out on this prestigious event where we honour the best in MSME financial services and innovation.

🔗 Register Here: https://bit.ly/msmefinanceawards2024

Brought to you by The Economic Forum Series® & Nairametrics.