Union Bank Pledges More Support for Nigerian SMEs

Union Bank of Nigeria has declared that it will stand like a pillar behind Small and Medium- sized Enterprises (SMEs) to ensure growth and development in the country economy.

Head, Small and Medium sized Enterprises (SMEs) Products & Segments, Union Bank, Ayokunnumi Abraham made the declaration at the Business Day newspaper ‘Top 100 Fastest Growing SMEs in Nigeria’ conference.

The conference was themed, “How SMEs can thrive in an age of volatility.”

Mr. Abraham said SMEs needed to pay attention to capacity building and keeping proper financial records as he noted these are the areas that will attract investors.

“SMEs must focus on building capacity and developing the necessary skills to increase their expertise if they hope to succeed in this volatile age. SMEs also need to embrace technology and digital tools as an enabler for business growth while ensuring their books and records are organised if they hope to attract funding from the right financial partner.”

Union bank were joined by other various stakeholders in the SME sector, including entrepreneurs, industry experts, start-ups, and financiers at the event.

Union bank has remained one of Nigeria’s Leading financial institution ever since its creation in 1917 and were awarded at an award ceremony held after the conference as “Nigeria’s SME Financier of the Year.”

According to the organisers of the award, the award was in recognition of the bank’s efforts to support and promote the growth of the SME sector in the country.