Business

SME Funding: @FidelityBankPlc Empowers 12 Entrepreneurs, Awards N6.4mln

By Victor Ojelabi

Fidelity Bank Plc recently played true to its name at a well attended event where twelve small and medium scale enterprises (SMEs) were with N6.4 million in the maiden edition of its SMEs Funding Connect program.

The event, which titled, “Entrepreneurship meets Capital,” set the tone for other players in the banking industry as a truly SMEs friendly bank in Nigeria.

It was reported that the twelve finalists emerged from more than 2,000 applicants who went through a rigorous selection process conducted by PwC Nigeria, the consulting firm which provided mentorship and capacity building which connected entrepreneurs with investors.

According to the Managing Director and Chief Executive Officer of Fidelity Bank, Nnamdi Okonkwo, “Today is the beginning of a series of programs that we are planning in Kano, Port Harcourt, Ibadan, Aba, others that will bring fund providers to the SMEs. The essence is to bring fund providers together for the benefit of those who need funding”.

Deputy Governor of Lagos State, Dr. Olufemi Hamzat, who was also a keynote speaker at the event, lauded Fidelity Bank’s initiative for supporting SMEs, saying the move is part of the process of revitalising the economy.

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