By JONAH NWOKPOKU

Financial Services firm, Rosabon Financial Services Limited has identified financial planning as a critical ingredient for the smooth operations of Small and Medium Enterprises (SMEs).

Head of Marketing and Strategy of Rosabon, Chidimma Onyeokoro stated this while speaking to Vanguard on how efficient financial planning can enhance the operations of SMEs in the country.

She said that over the years, the company, N600 million capital base, has been committed to the development of SMEs by helping them to finance projects through its financial planning services

She said that Rosabon recognises that the SME sector represents the engine of growth, innovation and creation of new development; hence they have been the central focus of the company over the years.

She explained that the bulk of the firm’s offering revolved around providing flexible and convenient access to lease acquisitions, loan financing, financial planning, counseling and related services that enable long-term productivity, growth and better compatibility within a dynamic and complex economic environment such as Nigeria’s.

To attain these objectives, she said, the company has designed three financial products that suitably meet the peculiar and specific needs of individual customers and business owners alike.

These products include, The Rosabon Earning Program, the Rosabon Win-Big Monthly Note, and the Rosabon Treasury Note,

Giving insights into the different products, Onyeokoro said, “The Rosabon Earning Program is a financial product designed to accept and grow funds from individuals with the principal and interest paid back upon maturity.

Individuals who are gainfully employed in various institutions such as finance companies, private organizations, civil servants, government agencies with a need to save towards a long term project continue to benefit immensely for this product as it encourages a disciplined savings culture.

With REAP, an agreed amount is placed by customers monthly over an agreed duration of time typically 2-5 years after which customers receive the amount they originally placed plus interest with minimum rate of 7.5 percent per annum.”

The Rosabon Treasury Note, on the other hand is targeted at HNIs (self-employed individuals, employees of blue chip companies and the public sector), private institutions, private/public liability companies, insurance companies, cooperatives/associations, NGOs, schools and churches; and it is a tenor-based placement with highly competitive yet negotiable interest rates at a specific amount for individuals and corporate organisations.