With the launch of the sustainable development goals in 2015, the attention of the world has been drawn to the need to do things differently. It is not enough to start and run business outfit, business owners must incorporate and target triple Ps (People, Planet and Profit) in their business model strategy to enjoy favour and support of financial institution and government. In simple terms, a sustainable development model is the kind where sustainability concepts shape the driving force of the ﬁrm and its decision making to be transformed by social and environmental fundamentals. It also entails a framework that reates customer and social value by integrating social, environmental, and business activities into its operations. It involves resource efﬁciency; social relevance; localisation cum engagement; longevity; ethical sourcing; and work enrichment.
One of the measures put in place to end poverty in all its ramification is to promote micro, small and medium enterprises (MSMEs) by enhancing their access to finance. Accessing appropriate finance at a different stage of business development require proper knowledge and skill in the use of the financial product. Many people are poor not only because they earn low income but because they do not know how to manage and use financial resources available to them. Financial literacy education has to do with acquiring appropriate knowledge and skill that empower the individual to make use of the different financial products to enhance the quality of living.
Stemming from the foregoing, Regional Centre for Expertise (RCE Ogun Chapter, one of the UNU-IAS globally recognized RCEs) in conjunction with the Department of Banking and Finance, Covenant University, Ota have thoughtfully sought seasoned professionals and entrepreneurs to educate small business owners on how to use various financial products to enhance the sustainability of their businesses. The workshop with the theme ‘Financial Literacy for Sustainable Business’ is supported by Zenith Bank PLC. It will cover the following thematic areas:
- Sustainable business criteria for credit acquisition
- Micro-insurance for sustainable businesses
- Micro-pension for small business owners
- Best financial practices for SMEs resilience
- Lending to SMEs – Navigating the troubled water in the Nigerian business environment
- Portfolio diversification/selection and management for sustainable business Personal finance for business owners
According to the Chairperson of the Local Organising Committee (Dr Abiola Babajide) and Chair RCE Ogun (Prof. Evans Osabuohien, a professor of economics and Chair, Centre for Economic Policy and Development Research –CEPDeR), the workshop is inline with the core mission of RCE Ogun with respect to contributing to Education for Sustainable Development (ESD), UN’s SDGs as well as AU’s Agenda 2063.
The keynote speech will be delivered by Mr. Bayo Rotimi, (Member of the Securities & Exchange Commisison’s Technical Committee on Financial Literacy, and Member of Faculty as well as Advisory Board of the Enterprise Development Centre of the Pan Atlantic University). Other speakers include: Pastor Mike Ighodalo Ewewie (founder and owner of CEDAR D’ VINE