Players in the Small and Medium-sized Enterprises (SMEs) sector have hailed First Bank of Nigeria, (FBN) on its ‘SME Connect Business Clinic’ initiative.
They expressed their thoughts during the first edition of the programme in Lagos, recently.
According to the financial institution, the initiative was thought of to develop SMEs and strengthen their impact in the economy through capacity building.
Speaking further, Group Head, Lagos Island 1, FBN, Olufunke Smith stated that the programme was one of the bank’s commitments to improve SMEs in the country.
She added that the initiative was pegged on seven pillars that would connect SMEs to capacity building, market, infrastructure, talent for business development, policy and regulation, finance and resources.
“Building the capacities of SMEs is an ongoing process. SMEs are the engine of growth of any society. At First Bank, it is our responsibility to bring them on-board through support, knowledge sharing, and advisory in order for them to add value to the society. The SMEs attending the clinics today have gone through a selection process and it is the first for 2020, there will be more clinics to be held in the course of the year.
“This clinic is part of giving back to the society, thereby ensuring we continue to develop SMEs. We recognise that to serve SMEs adequately, there is a need to offer more than traditional banking services,” she stated.
Also speaking at the event, a Market Analyst, Gospel Obele commended the bank’s move, adding that the programme has exposed participants to opportunities that would boost their business.
He said: “Examining strategy from the outlook that was presented today, it is more of how SMEs rework their internal systems to respond to the changing environment that we have. Nigeria is a high fluid and dynamic economy, which means that our own business environment is changing faster than advanced economies.”
