How ProvidusUnity Bank Is driving economic growth, one SME at a time

ProvidusUnity Bank's capacity-building programme for Small and Medium Enterprises (SMEs) has expanded from Lagos to Abuja and Port Harcourt, benefiting over 300 SMEs since its inception six years ago. The programme recognizes that access to funding alone is insufficient for building sustainable businesses. Instead, it focuses on providing SMEs with essential knowledge, systems, and structures through a hybrid model that includes intensive training, mentorship, networking, and, eventually, access to funding.

This curriculum addresses critical areas such as business strategy, operational efficiency, financial record-keeping, sustainability, risk management, and growth planning. Nigeria's SME sector, which comprises nearly 40 million businesses, contributes 46.32% to GDP and employs 87.9% of the workforce, yet access to finance remains a significant challenge.

To address this, the programme's sixth cohort is currently running across Lagos, Abuja, and Port Harcourt. Beneficiaries report that the programme has significantly improved their business capabilities, from consolidating existing gains to preparing for future scaling. Ernest Elue, the Head of Business Development at ProvidusUnity Bank, emphasizes that the objective is to build a platform that empowers SMEs to become stronger, more sustainable businesses, ultimately contributing to the broader growth of Nigeria's economy.

By investing in the capabilities behind businesses, rather than just the businesses themselves, the programme is a crucial step towards building a more robust entrepreneurship ecosystem in Nigeria.