The event, which saw a large turnout of entrepreneurs and stakeholders, marked the official launch of Fidelity Bank’s initiative to equip 100 growth-ready SMEs with ERPRev-enabled POS systems and comprehensive business support tools, all at no cost to the beneficiaries.
Empowering the Architects of Growth
Dr. Nneka Onyeali-Ikpe, Managing Director/CEO of Fidelity Bank Plc, represented by Mr. Stanley Amuchie, Executive Director/Chief Operations and Information Officer, underscored the bank's unwavering commitment to SME development.
“At Fidelity Bank, we believe SMEs are not just the backbone of our economy—they are the architects of innovation, resilience, and inclusive growth,” stated Onyeali-Ikpe. “Through the Fidelity SME Empowerment Program (FSEP), we are providing 100 entrepreneurs with the tools, training, and support they need to thrive in today’s digital economy.”
Through this pivotal initiative, benefiting businesses will receive a comprehensive package designed to streamline their operations and boost efficiency. This includes:
- A fully-installed POS desktop system
- ERPRev business software
- A receipt printer and barcode scanner
- Inventory data input support
- Financial and bookkeeping training
- Branding and onboarding support
- Six months of post-installation monitoring
- A free Fidelity POS with instant settlement
The three-day program goes beyond mere equipment provision, featuring high-impact training sessions, masterclasses, and networking opportunities. These are specifically designed to spark innovation, foster partnerships, and unlock new market opportunities for participating SMEs.
Digital Tools: A Game Changer for Efficiency
Mrs. Adaonah Kene-Uyawune, CEO of Manmark – Fidelity Bank’s strategic partner in this endeavor – highlighted the transformative potential of the digital tools being provided.
“This digital transformation initiative is a game changer. It replaces manual bookkeeping with a unified system that simplifies accounting, inventory, HR, and profitability tracking,” Kene-Uyawune noted. She emphasized that "These tools are not handouts—they are instruments for long-term business success.”
SMEs are vital to Nigeria’s economy. According to the Nigerian Bureau of Statistics, they constitute 96% of all businesses in the country, employ over 80% of the workforce, and contribute nearly 50% to the national GDP. Despite their critical role, a significant number of these enterprises still rely on manual processes, which often hinder efficiency and limit their access to crucial financing.
Fidelity Bank’s intervention is therefore both timely and strategic, providing SMEs with the essential digital tools and support required to streamline operations, enhance transparency, and unlock new avenues for growth.
Ranked among Nigeria's best banks, Fidelity Bank Plc operates as a full-fledged Commercial Deposit Money Bank. It serves over 9.1 million customers through its extensive digital banking channels, 255 business offices across Nigeria, and its United Kingdom subsidiary, FidBank UK Limited.
The bank has been the recipient of multiple prestigious local and international awards, underscoring its commitment to excellence and innovation, particularly in the SME sector. These accolades include:
- The 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards.
- The 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook.
- The 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
- Recognition as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence.
- The Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
Fidelity Bank’s latest initiative is a clear demonstration of its ongoing dedication to nurturing Nigeria’s entrepreneurial spirit and facilitating the sustainable growth of its vibrant SME sector.