Anambra deepens digital push, targets SME formalisation

Anambra State in Nigeria is embarking on an ambitious digital transformation journey, aiming to formally integrate a significant number of its small and medium-sized enterprises (SMEs) into the formal economy by the year 2030. This strategic push represents a crucial phase of the state's broader economic modernization agenda, spearheaded by Governor Chukwuma Soludo, an economist and former Central Bank of Nigeria Governor.

The Anambra State ICT Agency is leading this second phase of the digital strategy, moving beyond the initial construction of basic technological infrastructure. The focus now is on expanding online government services, automating public administration processes, and leveraging digital platforms to facilitate business formalization. "My core vision is that we would have digitised every single government entity in Anambra State," stated Chukwuemeka Agbata, the Managing Director and Chief Executive Officer of the ICT Agency, during a recent virtual media conference.

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My core vision is that we would have digitised every single government entity in Anambra State.

Agbata elaborated that the strategy involves enhancing the state's OneGov platform, enabling residents and businesses to initiate government processes online, thereby reducing the time and costs associated with traditional in-person visits. The agency is also working on developing and automating websites for various Ministries, Departments, and Agencies (MDAs) to enable them to deliver services digitally, not just provide information. This digital push is particularly relevant for Anambra, a state whose economy thrives on trading, manufacturing, and a vast number of small businesses.

Formalizing SMEs is identified as a key challenge, and the ICT agency is collaborating with the Ministry of Commerce to encourage businesses, including those in major markets, to register. Formalization offers substantial benefits, such as improved access to financial services, credit, insurance, government programs, and procurement opportunities. For the government, it provides better economic data for policy design. "Business formalisation can unlock access to several economic opportunities," Agbata emphasized, noting that registered businesses are better positioned to receive formal financial and institutional support.

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Business formalisation can unlock access to several economic opportunities.