 Welcome back. It's still business insights and plus TV Africa. We'll be talking about rice mug. Let me just before we do that Small and medium-sized enterprises are the life load of Nigeria's economy Accounting for around eighty four percent of employment and contributing significantly to the country's GDP However, these businesses are from struggle to access the funding they need to grow and scale with many face in Significant challenges when it comes to securing financing from traditional sources like banks and other financial Institution well, I spoke with managing partner of power's consort in Baboye or Lua Femi as he gives his perspective to all of that take a look It's not a phenomenon that is affecting our school in Nigeria, but across African of the world at large SM is usually struggle through risk finance, but but thankfully with the in some in some economies able to develop programs such as incubators or accelerators had to set pin SM is to To to them bridge that gap And this is because one of the things that you want to see before you invest into any business is to see that the owner of This business or the managers of this business about you quit or press with requisite knowledge of running a business and when that is lacking That is where it's going to be a problem for any vessel to put their money in and that is why the Accelerators incubators are very very important because they not only invest money into you You'll see best knowledge which Brutica of You've been able to manage your business Effectively and what that is the one of the things you also see that the same is lack is because it's one of the things I've got the lack of In the prerequisite documents to show that the business is investments ready and that to show that the best is to see Investment Invaders as simple as your business As simple as your financial model is as simple as your business model your strategy As simple as your growth plans as simple as your marketing strategy all of these documents put together the some Some business plan you have all of them together And you work plan and how you want to implement this business All of these things are lacking most of the same is a funny investor to put their money into it They want to be able to see that you will you have an adequate or requisite knowledge of the industry You have played in and the market that's available and I you are going to play in and then you have Firm graphs of your figures. You know what your bottom line is going to be like You know what you need to do to achieve certain milestones that you have set for yourself You wouldn't like some of your business plan or the proof of the business except so the business are very very important because it Also, not only as you to answer the questions on the bottom line. It's great the path for The growth plan and the growth path for the business So people will see the trajectory of the business where it is heading and then that's when I mean that we now Arose the interest of investors who want to join you on that journey But if they are not saying where you are going from point a to point B And they are not saying to show that that is going to happen You have to understand how the firm grip of your business and to be able to see that some of the things so basically All of these things are factors out Are things that the businesses that investors look at and see whether they want to put money in the business or not? Because those things will also show to them the viability of the business the idea the market size And do not forget every investor at a point you want to exit and if they are looking at Investing on the business and there's no pathway to exiting the business in the next five seven ten years Most investors are not going to look that way They want to see that this as the capacity to generate enough cash flow Take care of your bills and all of those thoughts because they don't want to keep investing and investing and investing and The Mixed and difficult for them at the end of the day to even get toward the investment out of the business So all of these factors and and so many more are some of the reason that why reasons why some is don't get a The needed finance that they require to actually Support their business, but we believe that government can play a significant role in this area in the sense that you can encourage investors All right, that was some familiar Bobo you're talking about them the challenge of SMEs and funding in Nigeria. Let's now move on to rice mogul in I have joining me lofty Timothee Tahoula general manager grow soberi Nigra limited as we look at the issue of Smuggling in the country as we got some rice process and thank you for joining me lofty. Good morning to you All right, we'll try and I'm get some lofty back But these after an investigative report by economic confidential on how illicit rice importation is threatening federal government's agricultural sector intervention a major stakeholder has raised its voice on the situation now the rice processors Association of Nigeria repent Lamented that though the country's rice industry may have enjoyed considerable support from the administration of President Muhammad Buhari all is still not well with the agro subsector Repent explained that the illegal importation of rice has persisted. I still have them lofty Is he with us right now? All right, but it is actually a serious and consent for the rice processing sector in the country before now The federal government had to impose them a land border closure so that the issue of Smuggling can actually be nipped in the board after March and the borders were reopened and the Nigerians are all the rice and farmers For that time, maybe it is time for uhuru But I guess it was not really uhuru yet because a whole lot was still happening and Nigerians And of course among scrupulous and businessmen see have a way of smuggling this imported rice into the country and it is indeed affecting you know small Rice and processors here in the country. We're hoping that Timothy would bring more insights on this When we come back from this quick break still with us