The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, a German governmental development organization formerly called GTZ, reportedly plans to invest EUR 20 million (USD 28.6 million) to support small and medium-sized enterprises in the country through its Sustainable Economic Development in Nigeria (SEDIN) program. Mr Christian Widmann, program manager of SEDIN, has been cited as saying the majority of the investment will be directed towards increasing employment opportunities and capacity building. Mr Widmann reportedly has also stated that several states have been selected to participate in the three-year program, partly based on their their governments’ commitment to a previous GIZ-funded project and their relatively stable security conditions.
By Jacqueline Foelster, Research Associate
About Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH: GIZ is a federally-owned organization that was founded in 1975 in Germany. It operates in 128 countries to promote “sustainable development” by providing financial advisory services and funding. GIZ disclosed a total turnover of approximately EUR 1.45 billion (USD 2.07 billion) in its 2009 annual report.
Source and Additional Resources:
[1] The Nation, “Germany to invest 20m euro to boost SMEs in Nigeria”, http://www.thenationonlineng.net/2011/index.php/business/5792-germany-to-invest-20m-euro-to-boost-smes-in-nigeria.html
MicroCapital.org Brief, April 13, 2011, “Goodwell Investments Expands Beyond Microfinance to Include SME Finance, Health, Renewable Energy”, https://www.microcapital.org/microcapital-brief-goodwell-investments-expands-beyond-microfinance-to-include-sme-finance-health-renewable-energy/
MicroCapital.org Brief, March 22, 2011, “Association of Micro Entrepreneurs of Nigeria (AMEN), Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), Central Bank of Nigeria (CBN) Promote Small Business Ventures, Financial Inclusion to Combat Youth Unemployment”, https://www.microcapital.org/microcapital-brief-association-of-micro-entrepreneurs-of-nigeria-amen-small-and-medium-enterprise-development-agency-of-nigeria-smedan-central-bank-of-nigeria-cbn-promote-small-business-ventu/
MicroCapital Universe Profile: Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Deutsche+Gesellschaft+f%C3%BCr+Technische+Zusammenarbeit+GmbH+%28GTZ%29
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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