Manufacturers urged to adopt vendor financing
Manufacturers have been urged to adopt vendor financing as part of their business strategies to boost productivity and increase business growth. The Managing Director, Sage-Grey Finance Limited, Temitope Runsewe, stated this at a press conference to mark its 10th anniversary, advising manufacturers to have a long term plan for their businesses. “Manufacturers, there’s always value […]
Manufacturers are being encouraged to incorporate vendor financing into their business strategies in order to enhance productivity and foster growth. Sage-Grey Finance Limited, led by Managing Director Temitope Runsewe, made this proposal during a press conference celebrating the company's 10th anniversary. Runsewe emphasized the importance of long-term planning for businesses, recommending manufacturers to explore vendor finance as an alternative to traditional financing methods.
The firm has also established a $10 million Circular Economy Impact Fund, in collaboration with the Dutch Consulate, to support initiatives aimed at recycling and clean energy in Nigeria. This fund specifically targets small and medium enterprises (SMEs) and other retail products for individuals and businesses. Runsewe believes that sustainable finance is a key driver for business expansion, and the company plans to list on the Nigeria Stock Exchange and transition into a commercial bank.
This move would grant the firm increased access to domestic capital, supported by recent government reforms that have reduced currency-related concerns. By obtaining a commercial banking license, Sage-Grey Finance aims to expand its service offerings, streamline operations, and ultimately contribute more to the nation's economic growth.
Written by urgent.news from Daily Trust's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
