FIC Professionals Network Plc has been appointed as a business development service provider to assist small and medium enterprises in accessing credit through the Bank of Industry.
In a statement on Tuesday, the firm highlighted the role of BDSPs as key facilitators of the bank’s mission to provide long-term financial and business support to micro, small, and medium-sized enterprises.
As a BDSP, FIC will identify viable SMEs in need of financing, help develop bankable business plans, and offer post-financing support, including mentorship and financial advisory services. It will also promote corporate governance, facilitate linkages with larger enterprises, and contribute to value chain development.
The Bank of Industry’s board recently approved a mid-term corporate strategy plan for 2025–2027, focusing on 18 initiatives to strengthen its position as a leading development finance institution in sub-Saharan Africa.
In line with its commitment to supporting businesses across Nigeria, the bank disbursed over N120bn to MSMEs in 2024. As part of its strategic roadmap, the BoI recently engaged with all its BDSPs to outline their responsibilities and expectations.
Currently, FIC is presenting applicants for the N75bn Small Enterprises Intervention Sector Fund, a segment of the N200bn Federal Government MSME Intervention Fund, which the Bank of Industry administers.