Wema Bank Empowers SMEs

• Wema Bank Empowers SMEs

Wema Bank Plc has sponsored Small and Medium Enterprises to a capacity-building on sustainable wealth development, organised by PricewaterhouseCoopers in Lagos.

According to a statement by the bank, the nation’s economy is driven significantly by a vast number of SMEs.

The bank said research showed that as of October 2017, the country had in excess of 30 million small businesses operating within its borders.

The bank said it was keen on growing the capacity of small businesses and building lasting relationships that would help them grow into profitable ventures.

The statement said the sponsored firms cut across the manufacturing, hospitality, renewable energy, retailing, agricultural value chain and education sectors of the economy.

“The training at the PwC Business School featured experts from key growth sectors, as well as business managers and successful entrepreneurs. Discussions and insights were shared on the subject matter; experts touched on critical aspects of business building including bookkeeping and accounting to tax efficiency, raising funds for business and much more,” the statement said.

The Head, Retail Banking, Wema Bank, Dotun Ifebogun, explained that the bank believed strongly in the growth potential of SMEs, and was keen on providing the required financial and non-financial support needed to ensure the businesses realised their potential.

The statement said the bank recently secured a combined $35m from the African Development Bank and ICD to fund small businesses across the country.

According to the statement, the bank also provides regular training, research on business-building strategies, as well as offer tech-driven solutions required to boost growth, enhance efficiency and sustain profitability.