Wema Bank to train, empower 800,000 SMEs

Reinforcing its reputation as an institution committed to empowering Small Medium Enterprises (SMEs), Wema Bank has undertaken an initiative to empower 800,000 Nigerian businesses; following its Memorandum of Understanding (MoU) signing with the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN).

SMEDAN is a national agency established in 2003 with the goal of promoting the development of the Micro, Small and Medium Enterprises (MSME) sector of the Nigerian Economy.

The partnership with Wema Bank is focused on training MSMEs on soft skills, technical skills, and business skills, empowering them to build profitable businesses, gain more visibility and scale sustainably.

To execute the initiative, which will take course over the next 12 to 18 months, Wema Bank will provide the training and resources for the 800,000 businesses who will be curated by SMEDAN.

Commenting on the partnership, Wema Bank’s MD/CEO, Moruf Oseni, reiterated the Bank’s lifelong commitment to empowering Nigerians to thrive.

He said, “At Wema Bank, we don’t pay lip service to SME matters. From inception in 1945, Wema Bank was built with a purpose to provide financing for the indigenous people of Nigeria.

“It wasn’t because banks didn’t exist during those years; it was because we identified the gaps in access to finance for our people.

“This is why Wema Bank came to life; to provide tailored financial services and empower Nigerians to thrive on both individual and business levels.”