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.