WEMA BANK TO TRAIN AND EMPOWER 800,000 NIGERIAN BUSINESSES

WEMA BANK TO TRAIN AND EMPOWER 800,000 NIGERIAN BUSINESSES

…Signs Mou With Small And Medium Enterprises Development Agency of Nigeria (SMEDAN)

Reinforcing its reputation as a strong advocate for SMEs, Wema Bank, Nigeria’s foremost innovative bank and the pioneer of Africa’s first fully digital bank, ALAT, has launched an initiative to empower 800,000 Nigerian businesses. This follows the signing of a Memorandum of Understanding (MOU) with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) on February 25, 2025, in Lagos.

Established in 2003, SMEDAN is a national agency dedicated to promoting the growth and development of Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. Through this partnership, Wema Bank aims to provide training on soft skills, technical skills, and business development strategies to help MSMEs build profitable enterprises, increase visibility, and scale sustainably. Over the next 12 to 18 months, Wema Bank will provide training and resources, while SMEDAN will curate the 800,000 participating businesses.

Speaking on the partnership, Wema Bank’s MD/CEO, Moruf Oseni, reaffirmed the bank’s unwavering commitment to supporting Nigerian businesses. He stated: “At Wema Bank, SME empowerment is not just a buzzword—it’s our legacy. Since our inception in 1945, we have been dedicated to providing financial support tailored to the needs of Nigerians. This initiative with SMEDAN is a continuation of our mission to empower businesses and entrepreneurs across the country.”

Oseni highlighted Wema Bank’s longstanding commitment to financial inclusion, emphasizing that the bank has consistently evolved to meet the needs of Nigerian businesses over the decades.

“The petty traders we supported in the 1900s have grown into today’s entrepreneurs and MSMEs. We remain fully committed to providing them with access to finance, training, mentorship, and other essential resources to ensure their success.”

The Director General of SMEDAN, Charles Odili, commended Wema Bank’s proactive role in driving MSME growth in Nigeria. He expressed confidence in the success of the partnership, stating: “This collaboration is a prime example of how institutions can work together to create real impact. Wema Bank has continuously demonstrated genuine commitment to MSME development, and I appreciate their unwavering support for small businesses in Nigeria.”

Wema Bank has earned a strong reputation as Nigeria’s SME bank, consistently going beyond financial services to offer visibility, market access, tailored training, mentorship, and various forms of business support. Through this strategic partnership with SMEDAN, Wema Bank is set to drive significant growth in Nigeria’s MSME sector, reinforcing its position as a leading force in business empowerment.