Access to credit at single digit interest rate, insecurity and harsh business operating environment have been identified as challenges facing investors in the country.
Speaking with reporters in Lagos at the weekend, the Technical Director, Safety Consultant and Solutions Provider (SCSP), Anthonia Beri, lamented that over the last 10 years that the company has existed in the country, it had designed an ingenious way of sourcing for funds to provide top class services to its clients.
“One our biggest challenge is access to credit and funding for projects. Bank interest rates are seemingly not profitable for most projects we undertake and getting credit is not as easy as it ordinarily would have been.
“Then reputation of the country with respect to (insecurity) doing business, is also another challenge especially when a significant portion of your business requires overseas procurement. However, we have managed to overcome most of these challenges by adapting to our immediate business environment, getting funds from interested investors and credit organisations such as Co-Link and ensuring that we have the right capacity to deliver on projects. This has ensured client trust and provided better opportunities for trade credit,” Beri said.
According to her, the Federal Government has tried in terms of security and has improved significantly on the ease of doing business, more still needed to be done in the area of making loanable funds at friendly rates to investors.
“We have learned to adapt to our immediate environment, which includes the existing economic situation. No doubt these are tough times and like all other companies that survived, hard decisions had to be made. But our greatest survival asset has been the competencies of our workers and the uniqueness of the skills we provide,” she said.
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