The Micro, Small, and Medium Enterprises (MSMEs) sector in Nigeria, Wema Bank has entered into a landmark partnership with the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN).
The collaboration, solidified by a Memorandum of Understanding, seeks to empower a staggering 800,000 MSMEs through comprehensive training and resource provisions.
The initiative, announced through a statement on Friday, underscores Wema Bank’s commitment to fostering economic growth by equipping entrepreneurs with essential soft skills, technical know-how, and business acumen.
Over the next 12 to 18 months, Wema Bank will spearhead training sessions designed to enhance the capabilities of MSMEs, enabling them to build sustainable and profitable enterprises while expanding their market visibility.
Moruf Oseni, Managing Director/Chief Executive Officer of Wema Bank, emphasized the institution’s longstanding dedication to supporting Nigerian businesses since its inception in 1945.
He reaffirmed Wema Bank’s mission to bridge financial gaps and empower entrepreneurs across generations.
Oseni stated, “MSME empowerment for us is not just a buzzword. It is our enduring commitment, evidenced by decades of providing tailored financial services and unwavering support to Nigerian businesses.”
In response to the partnership, Charles Odili, Director-General of SMEDAN, praised Wema Bank’s pivotal role in driving MSME growth and development in Nigeria.
He commended the bank’s proactive approach and emphasized the transformative impact of collaborative efforts in fostering sustainable economic prosperity.
Established in 2003, SMEDAN plays a crucial role in facilitating the development of Nigeria’s MSME sector, aligning with national economic priorities.
The agency’s collaboration with Wema Bank marks a significant milestone in advancing entrepreneurial skills, market access, and overall business competitiveness across diverse sectors.
Wema Bank, renowned as Nigeria’s SME Bank, continues to innovate and evolve its offerings, providing MSMEs with essential resources such as access to finance, mentorship, market visibility, and specialized training.
This partnership with SMEDAN reaffirms Wema Bank’s commitment to nurturing a vibrant entrepreneurial ecosystem and driving inclusive economic growth in Nigeria.
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