Obafemi Darabidan, head of department, Covenant Capital, said Nigerian micro, small and medium scale enterprises (MSMEs) require patient capital with reasonable single-digit interest rate to scale their businesses.
He made this known during the recent one-day SME Funding conference organised by Covenant Capital, an arm of the Covenant Nation, with the theme, ‘Unlocking Capital, Accessing Funding Opportunities for Sustainable Business Growth.’
According to him, Covenant Capital has come to become a resource center within the church space. “So, we wanted to put up a conference that will point people in directions where they can actually source cheaper capital and also patient capital,” Darabidan said.