The Chief Executive Officer of SEL Capital Limited, Mr Segun Opaleye, in an interview, spoke about how the company’s goal is to support every SME across sectors.
Opaleye said that SEL Capital helps SMEs to establish Letters of Credit. It also helps to fund their purchasing orders and support their treasury management needs.
“What we also usually do for them is to start them off with advisory services. We help them to understand exactly how the business should be structured for easy access to capital. We try as much as possible to help them create a structure that clears the usual doubts about SMEs”.
“Although everybody talks about providing support to SMEs, but the question is: are you really giving them the solutions that set them apart from the pack? First and foremost, you have to get them to the point where the structure supports transparency, good governance and sustainable business. And that is what we are doing; guiding them through the process, and helping them to fund and grow their businesses.
At SEL Capital, we support SMEs and help entrepreneurs to create sustainable businesses, and make them more bankable.” Opaleye added.
“If we understand what you are doing as a business, then the question is: is it in a sustainable/ bankable state that equity investors or lenders will be comfortable to fund the business? So, we guide you through the process to ensure you get the needed support”, Opaleye said.
SEL Capital is planning to float a N2bn SMEs Fund as part of it financial inclusion strategic drive. Starting with tranche one of N1bn, which is expected to close within the third quarter of this year.