As Nigeria struggles with inflation, Fidelity Bank Plc has unveiled plans to sustain Small and Medium Enterprises (SMEs) with unique empowerment schemes in a bid to expand these businesses.
Citing the reason for its focus on SMEs, the bank quoted the National Bureau of Statistics report that SMEs have contributed to nearly half of Nigeria’s Gross Domestic Product over the last five years.
Some banks, such as Fidelity Bank, it said, have even taken their interventions a step further, developing initiatives with significant terms to empower micro, small and medium enterprises . The bank, she said, provides Nigerian SMEs with the much-needed capacity for long-term business growth and entrepreneurial success through a suite of tailored services.She said: “One example of the bank’s effective initiatives in support of SMEs is its first step, which is to hold a webinar in January 2021, in response to the devastating effects of the COVID-19 pandemic on businesses.
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