UT Financial Rejigs Operational Modalities to Lift SMEs


UT Financial Service Nigeria Limited,UTFSNL,  has re-arranged its business practices  to favour small and medium scale enterprises , SMEs in the country.

The non-bank financial institution which specialises in business loans, Personal/Individual/ Social loans, Auto and Equipment leasing, investment and Financial Advisory among others has said that the new development would assist smes to boom in the country.

The institution acknowledged the SMEs sector as a major driver of economic growth, hence, the need to accord it full support.

“With this new management team, a new direction, stronger vision, fresh ideas, and a stronger capital base is being provided to assist the SMEs boost their capacities and contribute  to the country’s exit from the economic recession,” UTFSNL said in a statement.

It stated further that the company was working on bringing in fresh funds to expand its scope of operations into strategic areas of the economy like Agriculture, Housing, Oil and Gas, Trade, Manufacturing, Maritime and personal Financial Advisory services to support Federal Government’s planned stimulation of demand to exit recession.

The Operations Manager of UTFSNL, Felix Osadiaye reaffirmed  the organisation’s continued committment to support businesses in the Oil & Gas, construction, communication, trade and commerce.

“It is pertinent to mention that the new management team of UTFSNL is being spearheaded by a seasoned investment banker who will bring his vast knowledge of local and International operations to take the company to greater heights,” Osadiaye assured.

UTFSNL is a subsidiary of UT Holdings, Ghana, which consists of UT BANK of GHANA, UT Logistics and UT Life among others. It commenced operations in Nigeria in 2009 with the sole objective of partnering with small-scale businesses so as to fulfill their hopes and aspirations.