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Fidelity Bank deepening commitment to the growth of SMEs in Nigeria—CEO

In line with its policy of encouraging startups, Fidelity Bank Plc has re-stated its commitment to the development of small businesses in the country, as it rededicates its Managed Small and Medium Scale Enterprises (SMEs) Unit to all entrepreneurs.

While assuring that it will continue to build sustainable business relationship with SME operators and increase its funding for agriculture and medical segments of the economy, the Managing Director and Chief Executive Officer, Nnamdi Okonkwo, in a Radio programme revealed that “When we started this SME Forum, the whole idea was to bring entrepreneurs who have succeeded to share their experience and help others make their business better. “We have partnered with Lagos Business School and Nigeria Export Promotion Council (NEPC)to give people knowledge about how to export. Now, we are speaking with players in the entertainment industry and I am sure that we would soon build another sub-segment that would lead to a different game altogether”.

Okonkwo made the disclosures at the bank’s regular programme on Inspiration FM Radio monitored in Lagos, tagged: “SME Forum.”

According to him, Fidelity Bank decided to drive SMEs development as part of new move to  raise the number of entrepreneurs in the country.

He said “When we started this SME Forum, the whole idea was to bring entrepreneurs who have succeeded to share their experience and help others make their business better. “We have partnered with Lagos Business School and Nigeria Export Promotion Council (NEPC)to give people knowledge about how to export. Now, we are speaking with players in the entertainment industry and I am sure that we would soon build another sub-segment that would lead to a different game altogether”.

Continuing, Okonkwo noted that the bank’s approach is not all about “ready-made” companies, but helping to grow start-ups and building relationships, not about how much one has, but about track record of business dealings and propositions, even if the person does not at present bank with Fidelity.

He maintained that “That is why we have the Managed SME Unit in the bank. A businessman who has his idea, done his proposal, his cash flows and bought some equipment, but just need a little support to start it off will get it from us. In fact, we would handhold you and give you all the support we have”.

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