In what has been termed a major move to bridge the gap in helping small businesses access much-needed funding and capacity development initiatives, a leading financial institution -Fidelity Bank Plc – has announced a strategic partnership with the Small and Medium Enterprises Development Agency (SMEDAN).

At a Memorandum of Understanding (MOU) signing ceremony held in Lagos, the Managing Director/Chief Executive Officer, Fidelity Bank Plc, Mrs Nneka Onyeali-Ikpe said the partnership reinforces the fact that the bank is a leading supporter of SMEs in Nigeria.

“This partnership is therefore another step in our journey of helping entrepreneurs grow and compete favourably in any market they operate and we are very happy to have SMEDAN join us”, commented Onyeali-Ikpe who was represented by the Executive Director, Lagos and South-West, Fidelity Bank, Dr Ken Opara.

Director-General/Chief Executive Officer, SMEDAN, Olawale Fasanya thanked Fidelity Bank for facilitating the partnership emphasising that the MOU was particularly significant not just to the agency but to the MSMEs ecosystem.

“Fidelity Bank is one of the few commercial banks in Nigeria that have shown immense interest in providing support to the large MSME community. I am very aware of some of your products purposely designed to serve the MSMEs. This explains why the agency is very excited entering into this relationship that we believe will help change the narratives of the sub-sector”, commented Fasanya.