Stanbic IBTC Partners with SMEDAN to Empower 3000 SMEs through the Enterprise

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC has reaffirmed its commitment to empowering Small and Medium Scale Enterprises (SMEs). To this end, the bank has signed a partnership agreement with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to provide training for 3000 Small and Medium Enterprises (SMEs) across various states in Nigeria.

The strategic collaboration between Stanbic IBTC and SMEDAN aligns with the bank’s commitment to supporting the growth and development of the SME sector in the country through its Enterprise Academy training programme, an initiative that has facilitated the training of over 5000 SMEs since its launch in 2021.

Highlighting the significance of the partnership, Mr. Wole Adeniyi, Chief Executive, Stanbic IBTC Bank emphasized the pivotal role of SMEs in the economy. He said, “SMEs are the backbone of our economy, and we acknowledge the vital role they play in driving economic growth and creating employment opportunities. Through our partnership with SMEDAN, we aim to empower SMEs with the knowledge and tools needed to thrive in today’s competitive business landscape.”

To ensure broad participation nationwide, the Enterprise Academy training programme will be conducted in the following states across four key geopolitical zones in the country- Enugu, Port Harcourt, Ibadan, and Abuja. The training sessions will cover a wide range of topics relevant to SMEs, including business planning, financial management, and digital marketing strategies. “We urge all SMEs to take advantage of this training opportunity,” Wole added.

Dr. Olawale Tunde Fasanya, Director General, SMEDAN, also shared his thoughts on the recently signed partnership, He said, “Establishing a trusted financial partner for growth is crucial to any business”. He further expressed his satisfaction on the partnership with Stanbic IBTC Bank to empower, equip and expedite the growth of SMEs, thereby amplifying their contribution to the economy.

Stanbic IBTC Bank’s Enterprise Academy training program is designed to equip SMEs with the necessary tools to overcome challenges, enhance their operations, and drive sustainable growth. The training program is open to SMEs from various sectors, offering them a platform to learn, network and access customised solutions tailored to their specific business needs.

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