In a continent where the poverty rate is higher than the opportunities, Izu Divine Freeman is reshaping the narrative through the Nano, Micro, Small, and Medium Enterprise (NMSME) sector, one step at a time.
As the co-founder and CEO of the Centre for Strategic Enterprise Development (CSED), Freeman has emerged as a forward-thinking leader in Nigeria’s MSME sector by developing practical, technology-driven solutions to the persistent challenges confronting countless entrepreneurs throughout Africa.
Freeman’s journey did not start in the corridors of policymaking or on international stages. It began in the front lines of the three businesses owned by his family in Anambra, Edo, and Rivers States, where he successfully doubled the revenues and refined his entrepreneurial skills. Not long after that, he was employed by a consulting firm in Abuja, where he was part of a team that advised key government MDAs (ministries, Departments, and Agencies), regulatory agencies and other organisations. His move into consultancy acquainted him with the extensive data behind Nigeria’s poverty indicator—and more importantly, the human narratives that accompany it.
“It allowed me to engage directly with MSMEs. I saw both their enormous potential and the systemic barriers they face in Nigeria and across Africa. It became clear that unlocking the wealth-creation potential of MSMEs required more than research. We needed to implement the outcomes we were discovering.” Freeman explained.
This discovery led to the creation of the Centre for Strategic Enterprise Development (CSED) in 2019, which he co-founded with Dr. Ikechukwu Okoli, another development strategist with global expertise. While Okoli navigates the international agenda from Europe, Freeman drives the organisation’s ambitious initiatives in Nigeria.
Freeman, who holds an HND in Business Administration and Management and a mini-MBA, said when he saw how business enterprises were excluded from financial services, coupled with the lack of data and infrastructure, he was prompted to advocate for inclusive finance to enable informal and semi-formal businesses to access capital.
He was swayed by the significance of NMSMEs, which, according to statistics, constitute over 90 per cent of businesses in Nigeria and Africa and provide more than 60 per cent of employment in the country. This underscores that the sector is the backbone of the economy.
“Supporting MSMEs isn’t charity—it’s strategy,” he stated. “We’re enabling bottom-up wealth creation and sustainable job growth that impacts communities African-wide.”
Under Freeman’s leadership, CSED has designed and implemented initiatives such as the Bayelsa E-Commerce Entrepreneurship Program (BEEP), Kaduna’s 5000 Smart Youths Initiative, and Benue State’s Agricultural-Led Industrialisation Agenda, tailoring support to the unique needs of each state.
One of Freeman’s most daring innovations is Capsule, a digital platform designed to connect informal enterprises with formal financial systems, a key factor that entrepreneurs overlook at the conception stage.
“Many businesses fail not because they lack potential, but because they lack visibility and credit history,” He said.
Capsule provides bookkeeping, digital wallet features, credit scoring, and a funding marketplace—all integrated in one platform. It enables entrepreneurs to obtain financing, manage inventory, and produce automated financial statements without needing to hire an accountant or draft business plans. Early users have reported significant enhancements in efficiency, planning, and access to capital.
In addition to aiding individual entrepreneurs, CSED under Freeman plays a vital part in shaping the broader ecosystem. The soon-to-be-released MSME Friendly States Index (MFSI) will serve as a benchmarking tool to evaluate Nigerian states based on their support for MSMEs—enhancing transparency, competition, and informed policymaking.
At the same time, Freeman is bringing together various stakeholders from both public and private sectors. His recent initiative, The Funding Forum, brought together national agencies, banks, and development partners to address Nigeria’s estimated $158 billion financing gap for MSMEs. The 2025 edition is set to expand its reach to include up to 30 African nations.
Freeman’s leadership style is anchored in evidence, inclusion, collaboration, and empowerment. Whether he is launching the New Generation of Nollywood Producers Prize to support youth in the creative sector or training startup founders through CSED’s Business Institute, his approach is holistic and people-centred.
When asked what motivates him, he points to purpose. “Every initiative must contribute to poverty reduction. That’s non-negotiable.”
With plans to scale Capsule on the African continent, an ambitious vision for the continental growth of CSED, Freeman’s ventures are far from complete. But the aim is evident: to create a resilient and inclusive financial environment where MSMEs can prosper—driven by data, technology, and bold partnerships.
In his word of advice for aspiring entrepreneurs, he said, “Begin with real unmet needs of underserved users. Design tech that is simple and accessible, even for users with low digital familiarity, build cross-sector networks, be data-informed, track impact metrics early and iterate continuously, so that even a first-time user can navigate. And never stop learning.”
Izu Freeman is changing the narrative from the negative news of economic hardship prevalent in the headlines to one of potential, structure, and strategic hope.
Comments are closed.