In an interview with CNBC Africa, CEO of IHS Towers, Issam Darwish, discussed a detailed report on small and medium enterprises (SMEs) in Nigeria, commissioned by IHS Towers and conducted by the Economist Intelligence Unit.
The report confirmed that more enabling government policy in regards to SMEs will only help companies in Nigeria. Issam Darwish explained that although registration costs for SMEs in Nigeria have been reduced by 60%, and a regulation enforcing the presence of a lawyer during registration has been removed, there is still a long way to go. Additionally, Darwish explained that only 14% of all SMEs had bank loans and that banks need to be more supportive of SMEs in order to facilitate growth.
Darwish also gave an operational update on IHS Towers, and stated that this year reducing operating costs through increased use of solar power and elimination of diesel usage will be a key focus.
