Sterling Bank partners with EAS to empower SMEs in sustainable export practices

In a strategic move to boost Nigeria’s small and medium-scale enterprises (SMEs) in adopting sustainable export practices, Sterling Bank Limited has joined forces with Export and Sell Nigeria Limited.

The partnership manifested in a comprehensive four-day capacity-building boot camp, which saw an impressive turnout of over 130 export-oriented business operators.

The Group Head of Agric and Solid Minerals Finance at Sterling Bank, Dr. Olushola Obikanye, emphasised the critical need for capacity building within the agricultural sector.

During the boot camp, he highlighted three essential factors pivotal for the sector’s growth in Nigeria: access to information, markets, and finance.

“Without addressing access to information and markets, financial intermediation remains ineffective,” Dr. Obikanye asserted, underlining the importance of holistic support for SMEs venturing into the export arena.

The collaboration between Sterling Bank and Export and Sell Nigeria is poised to equip SME operators with the necessary tools and knowledge to thrive in the competitive export landscape, ultimately contributing to the sustainable development of Nigeria’s economy.

“Access to information, markets, and finance are fundamental. Without addressing the first two, financial intermediation remains futile,” he said.

Obikanye stressed the need to ensure that domestically produced goods secure access to well-structured markets primed for their uptake, affirming the bank’s unwavering commitment to collaborative endeavours aimed at co-creating products and devising innovative solutions to bolster the private sector’s vitality within the agricultural domain.

He remarked, “Given agriculture’s significant GDP contribution, SMEs represent the most viable intervention avenue in the sector, transcending traditional industry players.”

In a similar vein, the Head of the Commercial Banking Division at Sterling Bank, Akporee Idenedo, highlighted the bank’s broader vision, highlighting its aspiration to foster wealth creation and enrich livelihoods through proactive initiatives.

“We strive to empower entrepreneurs beyond mere financial transactions,” he articulated, “By nurturing activities geared towards enhancing exports, we catalyse entrepreneurial empowerment.

“Our conviction lies in the belief that nurturing entrepreneurship leads to wealth generation, and our export conference serves as a pivotal avenue to realise this vision. Given agriculture’s intrinsic link to exports, this platform underscores our commitment to empowering lives, generating wealth, and contributing to Nigeria’s socio-economic advancement,” he noted.