Fidelity Bank Plc has teamed up with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to boost Nigeria's MSME sector through affordable loans, business support, and market access.
The strategic partnership, sealed at a recent MoU signing at Fidelity Bank's Lagos headquarters, will enable the bank to offer low-interest loans to MSMEs referred by SMEDAN.
The move is set to provide vital financial backing, training, and market linkages for millions of Nigerian entrepreneurs.
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Speaking at the event, Fidelity Bank's MD/CEO, Dr. Nneka Onyeali-Ikpe, represented by Dr. Ken Opara, said the bank remains committed to helping small businesses scale. "This partnership is a renewed commitment to driving growth and creating jobs," she noted.
SMEDAN DG, Charles Odii, described the collaboration as a game-changer for over 40 million MSMEs in Nigeria 90% of which are nano enterprises. He praised Fidelity Bank's role in reviving entrepreneurship and supporting expansion into African markets.
Joint initiatives like mentorship, financial literacy, and business forums are also on the cards.
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