The Chief Executive Officer of Blue Diamonds, Mr Raphael Chukwujekwu, says proper regulations of Small and Medium Enterprises (SMEs) will create an enabling environment for the sector to thrive.
Chukwujekwu made the remark on Monday in Abuja at the unveiling of a new product, Smart Blue Money Mobile App.
The CEO advised government at all levels not to introduce counterproductive regulations capable of stifling SMEs and killing young people’s initiatives.
According to Chukwujekwu, government can make the environment business-friendly such that small businesses will be able to grow.
”Part of the activities of Blue Diamonds is to provide project financing to young people with viable SME plans,” he said.
He said that the Smart Blue Money Mobile App helps people to save, invest, manage and grow their income with a view to securing their future.
On other benefits of the new product, he said, “in saving money, it creates a certain level of employment opportunities, because it provides for agency in the app.
” Through it, people can be gainfully employed by downloading the app and helping people to transfer money, buy data, buy recharge cards or airtime, pay for cable subscriptions and electricity bills.
”By so doing, it reduces unemployment and it adds to the nations GDP,” he said.
Chukwujekwu said that government had fared well in terms of encouraging SMEs urging them to do better.
He noted that with more discussions, interface and dialogues with owners of SMEs better prospect could be achieved.
Chukwujekwu said that Blue Diamonds which started from a barbing saloon now worth over N400 million with offices in Abuja, Lagos, Port Harcourt and Asaba.
The Blue Diamonds CEO noted that his company now had a board of trustees made up of credible Nigerians and management that sees to its day to day activities.
He, however, expressed concern over the challenge of operating such business with lack of public trust because of the activities of fraudulent companies.
“Part of the challenge is people’s past experiences, trust is a key issue, God has helped us, we have been able to pass through every rudiment to come to where we are today.
“In Blue Diamonds, we under promised and we over delivered. In the last four to five years, we have had a successful track record.
“It has not been easy, God has been helping us because of the clear cut vision and focus that we have, to provide viable financial solutions that guarantees financial future.
“Through our vision and our core values which is R-E-S-T- Respect, Excellence, Safety and Trust.
“A lot of people have been able to trust us with their money because we have been able to keep our promises,” he said.
Apart from the Smart Blue Money App, other products of the company include Land Banking, Direct Investment Scheme and Gold-Safe Investment Bond.
