The bank also disclosed plans to commence a national radio programme aimed at encouraging small and medium scale enterprises (SMEs).
Group Managing Director/Chief Executive Officer, Fidelity Bank, Mr.
Reginald Ihejiahi, who briefed the media in Lagos, said the initiatives
would help to address the challenges affecting small businesses in the
country. These, according to him, would also tackle the high mortality
ratio experienced by SMEs in the country.
Ihejiahi said with the initiative, his bank would help to guide small
businesses in their efforts to penetrate the market by providing
advisory support and enhanced capacity building programmes that would
aid the survival of their businesses.
He explained: “Most times, small businesses feel access to capital is a
major challenge but that is not the reality as there are avenues for
funding. But, many of the SMEs lack the exposure to drive them through
the necessary value chain. Each business has its own future and to make
this a reality, a lot of things need to be done.
“As a bank, we have concluded plans to focus on managed SMEs, those
with commitments. We are looking at trying to convert opportunities to
success. We are planning to build the next generation of SMEs in
Nigeria. They are the driving force of every economy and that target
market should not be taken for granted”, he added.
In his remark, the Executive Director, Lagos and South West, Fidelity
Bank, Mr. IK Mbagwu, said: “We believe the SMEs are the gateway to
economic development. Developments usually take place by having a strong
SMEs sector. It helps to generate employment in any economy. That is a
major reason for doing this and we also want to let people know that
Fidelity Bank has capacity and interest in this area.”
The bank’s Division Head, Managed SMEs and Consumer Sales Force, Ken
Opara, while unveiling the business explained that the bank’s approach
to the scheme would be geared towards providing advisory support and
catering for the mass SMEs.
Opara added: “The focused radio programme will be launched in a couple
of days and anchored by Martin Odogie, one of our SMEs experts. Through
this effort, we hope to position the bank as an attraction point for
SMEs’ incubation. The capacity building programme would be done in
collaboration with other agencies.”
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