...As Enugu First Lady, ABCON Commend Bank
Fidelity Bank Plc, top Nigerian lender has reaffirmed its commitment to enhancing the productivity and prosperity of Micro Small and Medium Enterprises (MSMEs) in the country by providing capacity building and advisory services, innovative funding options and other forms of relevant support that would significantly improve their overall contributions to national development.
Fidelity CEO, Mrs. Nneka Onyeali-Ikpe gave the assurance at
the Fidelity SME National Capacity Building Webinar organized by the bank for
entrepreneurs in Enugu State, in collaboration with the Enugu State Ministry of
Trade and Commerce and the Enugu SME Centre; Small and Medium Enterprises
Development Agency of Nigeria (SMEDAN); Nigeria Association of Small &
Medium Enterprises (NASME) and Enugu Chamber of Commerce, Industry, Mines and
Agriculture (ECCIMA).
The webinar which will take place across the country on a
state-by-state basis, is part of concerted efforts to assist entrepreneurs
across all sectors of the Nigerian economy develop requisite capacity to unlock
their full potentials and take their businesses to the next level of growth.
Mrs. Onyeali-Ikpe who during her remarks on Wednesday
provided insights into the bank’s unique approach to managing MSMEs, pointed
out that SMEs which are businesses with less than N100m annual turnover
contribute about 48% of national GDP, account for 96% of businesses and 84% of
employment in Nigeria. She noted that despite the significant contribution of
SMEs to the Nigerian economy, challenges still persist that hinder the growth
and development of the sector. Chief among these are funding, lack of
infrastructure, poor management, low entrepreneurial skills, improper planning,
poor digital skills, etc. The Fidelity CEO however noted that the webinar seeks
to proffer appropriate solutions to these challenges in a very practicable
manner.
“We have a dedicated SME Desk with innovative products and
services to assist your business. Fidelity Bank, in partnership with various
private and public institutions provides funding, business advisory services
for all our customers. This webinar is an excellent opportunity to network,
share information and deepen the SME sector in Enugu State”, she explained.
Themed “Funding and Financial Management”, the Enugu Edition
had in attendance special guests including Mrs. Monica Ugwuanyi, First Lady,
Enugu State, Sir Robert O. Anwatu, Managing Director/Chief Executive Officer,
Roban Stores, and Mr. Chiedozie Atuegwu, Director, Michelle Laboratories
Limited, amongst others.
In her remarks, Mrs. Ugwuanyi applauded the bank for its
unrelenting support for MSMEs in Enugu State, stating that the Ifeanyi
Ugwuanyi-led administration remained at the forefront of SME development in
Nigeria as exemplified by its continuous investments in infrastructure
deployment and provision of labor policy frameworks to further encourage
investments.
Speaking in the same vein, President, Association of Bureau
De Change Operators of Nigeria (ABCON) (ABCON) Dr. Aminu Gwadabe commended the
bank for its sustained efforts at promoting MSMEs nationwide. Gwadabe noted
that the bank had been very supportive to its 5,000 licensed members
nationwide. “The Bureau De Change (BDC) does about N1.4trillion per annum.
Fidelity Bank controls 60 percent of these transactions in the country”, he
explained.
Whilst shedding light on the dynamics of the Bureau De Change sector, Dr, Gwadabe revealed that exchange rate stability was determined by the country’s SME structure. Given the immense potentials inherent in the nation’s MSME space, he said that the fledgling sector, if properly positioned, could assist the Central Bank of Nigeria (CBN) achieve its mandate on exchange rate stability.
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