The event, held in Lagos, was attended by alumni of the programme, bank executives, EDC leadership, and representatives from the entrepreneurial community. The gathering not only marked a milestone but also underscored the growing impact of the initiative in equipping Nigerian entrepreneurs with the tools and support needed to thrive in a challenging business environment.
Supporting Businesses Beyond Finance
Delivering remarks at the anniversary event, Kingsley Aigbokhaevbo, Deputy Managing Director of Providus Bank, described the SME programme as a cornerstone of the bank’s strategy to foster economic growth and social impact.
“Being an entrepreneur is not a joke,” Aigbokhaevbo said. “We know that within the first five years, most SMEs struggle to survive. We saw an opportunity not just to offer funding, but to provide a holistic platform of support that empowers businesses to scale and sustain growth.”
He emphasized that the programme emerged from a desire to “give back to society” and to close the structural gaps—such as limited access to capital and poor infrastructure—that hinder the long-term viability of small businesses in Nigeria.
“Providus Bank was founded with the intent to be different. Supporting entrepreneurship is one of our pillars. Our goal is for Providus to be, if not the number one, then among the top three banks for SME development in Nigeria,” he said.
Collaboration with Development Bank of Nigeria in View
Beyond training and mentoring, Aigbokhaevbo revealed that Providus Bank is currently in talks with the Development Bank of Nigeria (DBN) to explore avenues for offering credit to SMEs at more affordable rates. He acknowledged that high double-digit interest rates remain a major obstacle for growth-stage enterprises and expressed hope that new partnerships could lead to more favourable lending conditions.
He also encouraged graduates to act as ambassadors for the programme by sharing their experiences and helping others benefit from the initiative.
A Testament to True Support
Earlier in the programme, Dr. Olawale Anifowose, Director of Programmes and Partnerships at EDC, praised the partnership with Providus Bank, noting the bank’s deep-rooted commitment to entrepreneurship.
“What we have witnessed over the last five years is a testament to genuine, sustainable support,” Anifowose said. “Providus Bank isn’t just doing this for branding—they are deeply invested in the growth of SMEs in Nigeria.” He also lauded the fact that no fees are charged to participants, describing the effort as a rare example of corporate responsibility with tangible grassroots impact.
Echoing this view, Dr. Nneka Okekearu, a Director at the EDC, urged programme alumni to replicate the benefits they received by mentoring and empowering other aspiring entrepreneurs.
“It’s not just about the training,” she said. “You’ve been transformed. And that transformation must spread. That’s how the Nigeria we all desire will emerge.”
Building Impact Through Networks
In addition to formal education, the programme has fostered strong peer-to-peer networking opportunities, creating what many attendees described as a supportive entrepreneurial community. Ernest Elue, Head of Strategy and Business Development at Providus Bank, acknowledged the role of the EDC team and the graduates in helping the bank “achieve its vision of transforming Nigeria’s SME ecosystem.”
The event culminated in the award of 96 certificates to graduating entrepreneurs—61 from Lagos and 35 from Abuja—underscoring the programme’s expanding national footprint.
As Providus Bank looks ahead, it plans to consolidate its role as a key player in Nigeria’s SME landscape, not only through capital support but by building a generation of entrepreneurs equipped to contribute meaningfully to national development.