Wema Bank To Train, Empower 800,000 Businesses
Wema Bank, known for its commitment to empowering Small and Medium-scale Enterprises (SMEs), has launched an initiative aimed at training and empowering 800,000 Nigerian businesses. This comes after the bank signed a Memorandum of Understanding (MoU) with the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN).
SMEDAN, established in 2003, is a national agency dedicated to promoting the growth of the Micro, Small, and Medium Enterprises (MSMEs) sector in Nigeria.
The collaboration with Wema Bank will focus on equipping MSMEs with essential skills, including soft skills, technical skills, and business management capabilities. This empowerment initiative aims to help businesses improve profitability, increase visibility, and scale sustainably.
The program will unfold over the next 12 to 18 months, with Wema Bank providing training and resources for the 800,000 businesses curated by SMEDAN.
Wema Bank’s MD/CEO, Moruf Oseni, emphasized the bank’s long-standing commitment to empowering Nigerians. He stated, “At Wema Bank, we don’t pay lip service to SME matters. From our inception in 1945, Wema Bank was created to provide financing for the indigenous people of Nigeria, recognizing the gaps in access to finance for small businesses. Over the past eight decades, we’ve consistently worked towards empowering entrepreneurs and small businesses, a mission we continue with this partnership with SMEDAN.”
Oseni further highlighted that MSME empowerment is not just a buzzword for the bank, but a core mission, one that has been central to Wema Bank’s operations for over 80 years.
Charles Odili, the Director General of SMEDAN, commended Wema Bank for its dedication to empowering businesses and stimulating growth within the MSME sector. He expressed confidence that the partnership would create a lasting impact, helping to shape a successful future for Nigerian MSMEs.
Wema Bank has built a solid reputation as Nigeria’s SME bank, offering services ranging from access to finance, market access, visibility, mentorship, and tailored training. This partnership with SMEDAN will further strengthen Wema Bank’s role in advancing Nigeria’s MSME industry, ensuring that local businesses thrive in a competitive environment.
