ROSABON Financial Services has launched Rosabon Emerging Enterprise Fund, REEF to empower Small and Medium scale Enterprises, SMEs, in Nigeria.
A statement from Rosabon said REEF will help SMEs expand and remain profitable while ensuring that they have adequate funds set aside for other long or short term financial goals. REEF will also allow business owners to make investments against which they earn highly competitive returns whilst being able to access a certain percentage in business loan of their invested sum.
Simply put, rather than plough all their profits back into the business, SME owners can use the high returns on their investment for working capital needs and business expansion. In addition, the Fund provides other benefits such as competitive interest on investment, free publicity of SMEs business on Rosabon website and other platforms etc. Through REEF, SMEs can earn interest on investment and collect same upfront to fund working capital needs.
Speaking on the product, Marketing Communications Manager, Rosabon Financial Services, Kehinde Ruth Onasoga, said: “It does not take a finance degree to know that the desire of every business owner is to continuously expand and mark profitability. This is however quite difficult in a country like Nigeria where SMEs are the least serviced set of people by financial institutions as they rarely get access to easy and convenient funding.