Ime Akpan
Fidelity Bank Plc has pledged to offer N2 million grant to an entrepreneur who will come up with the best business plan at its SMEs Funding Connect Forum holding in Lagos on August 7.
The managing director and chief executive officer of the bank, Mr. Nnamdi Okonkwo, disclosed this when he featured on Inspiration FM Radio programme ‘Fidelity SME Forum’ in Lagos.
Okonkwo who was represented by the bank’s executive director, shared services and products, Mrs. Chijioke Ugochuckwu, also announced its collaboration with PwC Nigeria to empower small and medium scale enterprises (SMEs) in Nigeria.
He said the collaboration would ensure that business owners who attend the programme are provided mentorship opportunities and some other capacity building initiatives.
He said apart from challenges of infrastructure that SME operators face, the foremost is funding
“Fidelity Bank is driven to help SMEs get capital which is a huge part of what we do. We are clear in our minds that due to the fact that SMEs produce 50 per cent of the country’s gross domestic product and accounting for about a third of the eligible work force, that impactful programmes targeted at SMEs would go a long way to improving and sustaining our economy.
“We have invested a lot of resources into capacity building as we have had 200 episodes of programmes such as this (the radio programme). So, when we are through in Lagos we are taking it to Uyo and Ibadan in a few months,” he said.
Also speaking, the divisional head, Managed SMEs, Mr. Osaigbovo Omorogbe, said the event would focus on funding, based on the relationship between Fidelity Bank and SMEs.
“We realise that in addition to capacity issues, funding is also a major issue. Funding solves a lot of challenges SMEs go through, depending on the state of development of the start-up, cost of the funding and structure of the funding which led to us creating a platform where the supply and demand stakeholders can meet so as to have conversations that would lead to ultimate funding decisions by the funders.
“If you are an SME that is in the agricultural, healthcare, education, technology, entertainment, lifestyle you are the sort of entrepreneur we are looking forward to link up with at the event.
“It is a pre-registered event, thus SMEs are expected to register prior to the event at Landmark event centre on the 7th of August, he added.”
Also, the partner, Experience Centre and Emerging Technologies Leader at PwC, Femi Osinubi said his organisation would bring SME owners to its centre to help them grow.
“SMEs are the bedrock of any economy including Nigeria. This initiative helps attain the SDGs which PwC is about. We have created an experience centre to support this initiative which would be the home of innovation and experiential technology; we are going to bring the SMEs into our centre to test the business ideas and them help develop them into the next level,” he said.
