By Princewill Ekwujuru
Lagos-based Rosabon Financial Services has become Nigeria’s latest global success story in SME financing as it clinched the ‘Best SME Financial Advisory Nigeria 2015 Awards bestowed on it by UK based Capital Finance International, CFI.co.
CFI.co is an international print journal and an online resource reporting business and finance trends across the world.
The annual award, CFI.co says, seeks out individuals and organisations that contribute significantly to the convergence of economies and truly add value for all stakeholders.
To win the award, Rosabon Financial Services, along with two other Nigerian companies, was nominated by CFI.co audiences, and then shortlisted for further consideration by a panel. CFI.co’s research team gathered additional information to help reach a final decision coupled with some cases where senior members of nominee management team provided the judges with a personal view of what sets their companies and institutions apart from the competition.
Rosabon was declared winner in this category based on its outstanding records on financial performance, risk management, corporate governance, customer services, innovation, CSR policies, market leadership, transparency, response to market demands and strength of nominations.
The process saw Rosabon emerge the best SME financial advisory Nigeria 2015 – the only SME focused Nigerian company to win in any category among selected winners across several economic regions. This is significant because with this award, Rosabon has now joined the league of top players in Nigerian corporate world such as; Zenith Bank, Schlumberger Nigeria, CRC Credit Bureau, ARM Investment Managers and PricewaterhouseCoopers Nigeria who have clinched an award from CFI.co in different categories in the recent past.
In Nigeria, the SMEs form a critical part of the economy as they constitute over 90 per cent of the economy, according to studies by International Finance Corporation. SMEs, according to the study, also represent more than 80 per cent of the manufacturing/industrial sector in terms of number of enterprises. But, in spite of the size of this sector, they contribute approximately one per cent of the country’s GDP. This is as a result of its many constraints, chief among which is access to funds.
It was the need to fill this gap and provide more opportunities for the SME sector that Rosabon Financial Services over the past two decades waded in, providing the fuel that powers Africa’s largest economy by helping Nigeria’s SMEs find the funds required for survival and expansion.
As a leading financial, intermediary and equipment leasing company, Rosabon Financial Services, a part of the Concept Group Nigeria, closely follows international best practices to ensure its sustained growth.
The company also maintains one of the industry’s most successful client development strategies which have seen Rosabon Financial Services multiply its revenue stream. The firm offers a full suite of products carefully crafted to fill the diverse needs of businesses across all sectors of the economy.
More so, delivering readily available financial solutions to private enterprises has allowed Rosabon Financial Services to become a top-tier player and the go-to place for entrepreneurs aspiring to reach the next level.
With a customer centric approach that has set a new industry benchmark, the company has managed to expand the scope and nature of its engagements, broadening the customer base and exploring new services and financial products.
Speaking on the award, Chief Executive Officer/Managing Director, Rosabon Financial Services, Chukwuma Ochonogor, said: “The CFI.Co Award is a great recognition that reiterates Rosabon’s commitment to economic growth and development by providing fast, easy and reliable funding and advisory services to small and medium sized enterprises, to enable them run effectively as well as expand their businesses whilst creating jobs for the good of the economy.
“SMEs are major economic drivers; unfortunately, there has been a huge gap in performing this role largely due to financing as a result of the risk factor associated with them. At Rosabon Financial Services, we constantly seek to bridge this gap by providing these drivers the fuel that powers this dynamic economy of ours. So, we are indeed honoured being recognised by this world reputable finance magazine. This will only spur us to do more for SMEs.”
On her part, Rosabon’s Head of Strategy & Marketing, Chidimma Onyeokoro said: “We are grateful to CFI for recognizing our intent funding of Small and Medium-Sized enterprises that has helped these businesses grow over the years. This award means a lot to us and we see it as a stepping stone to creating more innovative, creative and strategic initiatives that would aid our plan of facilitating the growth of young businesses in Nigeria.”