23 May, 2024 News

ARE & SMEDAN sign MoU to support the modernisation of Nigerian MSMEs to progress towards renewable energy targets

Lagos, 23 May 2024 – A Memorandum of Understanding (MoU) has been signed between SMEDAN (The Small and Medium Enterprises Development Agency) and the Alliance for Rural Electrification (ARE). The MoU sets out the shared goals of the two organisations to stimulate, monitor, and coordinate the development of the Micro, Small, and Medium Enterprises (MSMEs) sub-sector. Their focus will be on promoting rural industrialisation, reducing poverty, and creating jobs.

The organisations will collaborate to accelerate progress towards renewable energy targets and cultivate a supportive ecosystem that empowers Nigerian MSMEs in the decentralised renewable energy space. They will also foster sustainable energy practices and engage in joint efforts to discover opportunities for advancing renewable energy deployment.

In this regard, the organisations will work to catalyse partnerships between Nigerian MSMEs and the renewable energy private sector. They will also develop tailored training programmes, and workshops and provide technical assistance mentorship to Community Facility Centres and MSMEs to support the implementation of renewable energy projects and initiatives. Moreover, they will embark on joint projects to identify programmes that accelerate the deployment of renewable energy solutions in Nigerian MSME operations and supply chains.