Fidelity Bank boosts Northern SMEs at Kano forum

Fidelity Bank Plc reaffirmed its dedication to nurturing Small and Medium-scale Enterprises (SMEs) in Northern Nigeria during its Quarterly Business Forum held in Kano. The bank's Executive Director for the North, Mr. Sufiyanu Garba, made this commitment in a statement delivered by the bank's Divisional Head of Brand & Communications, Ms. Meksley Nwagboh.

Garba emphasized the critical role that Northern Nigeria plays in Nigeria's economic future, citing its vast agricultural resources, strong trading culture, manufacturing capabilities, and large consumer market. The bank aims to assist businesses in the region by providing financing, market access, advisory support, and strategic partnerships.

Beyond just funding, Garba stated that the bank's ambition is to equip entrepreneurs and businesses with knowledge, connections, and practical solutions for growth. Ms. Ugochi Osinigwe, the Divisional Head of SME Banking, highlighted that the forum was established to facilitate direct engagement between the bank and entrepreneurs, allowing the bank to better understand the challenges facing businesses across key sectors of the economy.

To reduce the cost of doing business, the bank introduced zero-maintenance-fee account offerings and free capacity-building programs, focusing on essential business practices such as business structuring, record keeping, financial management, and access to finance. Training is a significant investment for the bank, as many SMEs face difficulties due to limited knowledge of these practices.

Key participants at the forum, including Mr. Okereke Ignatus Mmbonye, Managing Director/Chief Executive Officer of I.G. Best Company, and Mr. Sufiyanu Salisu Ahmad, Managing Director of Nabila Oil Mills, expressed their appreciation for the bank's valuable business knowledge, connections, and opportunities for direct engagement between financial institutions and the business community.