Wema Bank has awarded a total grant of N3 million to three emerging entrepreneurs in Lagos as part of its initiative to support Micro, Small, and Medium Enterprises (MSMEs) in Nigeria.
The grants were presented to the winners of a business pitch competition held during the Lagos Leather Fair, one of West Africa’s largest showcases of the leather industry.
The beneficiaries – EwaOluwa Morenikeji of House of Ewa LTD, Joy Fache James of Paciencia, and Fatima Yusuf of House of Zibima – each received N1 million to scale their businesses.
The initiative, according to the bank, marked its continued commitment to celebrate World MSME Day and to reaffirm its support for the growth of local enterprises.
Speaking after receiving her cheque, EwaOluwa Morenikeji, CEO of House of Ewa, a modern bag-making brand, expressed gratitude to Wema Bank.
She noted that the grant would be channelled into business expansion and equipment acquisition.
“I’m deeply grateful for this opportunity to put my business out there and get the support I need to scale.
“This will help my business grow significantly. I plan to get better machinery and improve production quality. I thank Wema Bank for supporting small businesses like mine,” she said.
Commenting on the initiative, the Managing Director and Chief Executive Officer of Wema Bank, Mr. Moruf Oseni, described MSMEs as critical drivers of Nigeria’s economy.
He emphasized the bank’s resolve to continue providing tailored financial solutions that will empower grassroots businesses.
“MSMEs constitute the backbone of our economy. Supporting them stimulates growth and extends impact to communities.
For 80 years, we’ve remained committed to empowering lives and businesses. We will continue to create opportunities for MSMEs to thrive and innovate,” Oseni stated.
The Lagos Leather Fair brought together designers, manufacturers, suppliers, and stakeholders across the leather value chain from Africa and beyond.
The annual event celebrates African creativity, craftsmanship, and entrepreneurship in the leather industry.
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