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Posted By Udokabestluv On February 13th, 2025

Fidelity Bank Plc has reaffirmed its commitment to small and medium enterprises (SMEs) in Nigeria with the launch of the Fidelity SME Hub.

The managing director and chief executive officer, Dr. Nneka Onyeali-Ikpe, during the launch of the SME Hub, in Lagos, stated that the Hub is designed to provide essential resources, training, and support to help businesses scale and thrive in an increasingly competitive economy.

Onyeali-Ikpe highlighted the bank’s long-standing dedication to SME growth, stating that, “Fidelity Bank is the best SME bank in Nigeria, a position we have held for a long time because we recognise that SMEs are the bedrock of progress in every economy. By empowering small businesses, we are grooming the Dangotes of tomorrow.”

The Fidelity SME Hub is a comprehensive resource center offering training programs, capacity-building workshops, business mentorship, co-working spaces, industry networking opportunities, and access to business insights. According to Onyeali-Ikpe, these resources have been carefully curated to equip entrepreneurs with the necessary tools to overcome market challenges, expand their businesses, and compete globally.

A key feature of the hub is its strong focus on Nigeria’s burgeoning creative economy. Recognizing its potential to contribute significantly to the nation’s GDP, Fidelity Bank has incorporated a world-class creative studio, aptly named CreatiVerse. This multi-purpose facility includes training halls, co-working spaces, meeting rooms, podcast studios, and music, photography, and content production studios. “Young creatives often lack the resources to access such facilities, so we have provided this hub as a space where they can work pro bono to reach their full potential. When they become the next Burna Boy, they will remember us,” Onyeali-Ikpe added.

The minister of Youth Development, Comrade Ayodele Olawande, commended Fidelity Bank for its youth-centric approach to SME development. “I want to see a bank that truly supports young people, and Fidelity Bank is doing just that. This initiative reflects a commitment to equipping Nigerian youth with the skills, resources, and opportunities needed to turn their business ambitions into profitable ventures,” he stated.

He further emphasised the alignment of the SME Hub with the federal government’s Renewed Hope Agenda, which prioritises youth empowerment and economic growth, while mentioning the upcoming Nigerian Youth Fund, which aims to provide financial support for young entrepreneurs. “The Fidelity SME Hub serves as an impressive addition to young business owners, offering critical support and access to decision-makers,” he said.

A partner at PricewaterhouseCoopers (PwC), Chioma Obaro, also expressed PwC’s excitement about partnering with Fidelity Bank to support SMEs. “Beyond the excellent financial services Fidelity Bank provides, we are bringing top-notch advisory and accounting services to SMEs, ensuring they receive professional guidance that would otherwise be difficult for individual businesses to afford,” Obaro said.

Representing the Lagos state governor, Babajide Sanwo-Olu, the secretary to the State Government (SSG), Barr. ‘Bimbola Salu-Hundeyin, lauded the initiative as a game-changer for Lagos’ entrepreneurial ecosystem. “SMEs contribute about 84 per cent to Nigeria’s GDP, and in Lagos, our dynamic business environment thrives on initiatives like this. This hub is a world-class package that moves businesses from survival to sustainability and from growth to greatness,” she noted.

The Lagos state government reaffirmed its support for SMEs through various initiatives, including the Lagos State Employment Trust Fund, Lagos Innovate Program, and Lagos Creative Industry Initiative. “This SME Hub aligns seamlessly with our developmental agenda to create an enabling environment for businesses to thrive,” Salu-Hundeyin added. Beyond its economic impact, the hub also presents opportunities for women entrepreneurs, startups, and technology-driven enterprises. “This is banking at its best, going beyond deposits and loans to meet the grassroots needs of business owners,” the SSG noted.

Source: https://leadership.ng/fidelity-bank-unveils-sme-hub-to-empower-entrepreneurs/