Fidelity Bank Plc has restated its resolve to continue to support micro, small and medium scale enterprises (MSMEs) in order to drive the country’s growth. The bank stated this as it received the Lagos Chamber of Commerce and Industry (LCCI) award as the SME Lender of the year 2015.
The declaration was made in Lagos at an award ceremony to recognise deserving corporate organisations that had made significant contributions towards the advancement of the economy.
The organisers of the award said Fidelity Bank came tops in all the measuring parameters after a rigorous selection process involving competing SME focused banks in the country.
Receiving the award on behalf of the bank, Executive Director, Shared Services, Fidelity Bank, Mrs. Chijioke Ugochukwu, noted that globally, SMEs account for almost 70 per cent of businesses and provides employment for almost 60 per cent of the population of any country.
“Fidelity is very proud to be the number one supporter of SMEs in Nigeria and we do this in many ways. This is a big honour for Fidelity Bank and the recognition is a positive one for the team that has worked for so long to bring us to where we are today and we are very proud of the work we do for SMEs.
“Fidelity Bank has already keyed into the CBN’s micro, small and medium scale enterprises development fund (MSMEDF). We are very active on that and we are processing several applications. Disbursement have already been made to many of our customers. We intend to intensify our effort in this regard.
“We think that the fund from the central bank is an excellent opportunity for SMEs to access money and it is not something that should be missed by our customers,” she added.
According to Ugochukwu, the award underscored Fidelity Bank’s role in the SME space, which she pointed out completely aligns with the government’s goal of ensuring rapid economic development using the SMEs as the catalyst.
Furthermore, she explained that the bank recognised the role of the SMEs as the engine room of the economy. This according to her, prompted the bank to set up the Fidelity Managed SME to address the gaps in the sector.
“This award is a testament to the bank’s efforts at raising a new generation of entrepreneurs through the deployment of tailored, low-cost products and services which is in line with government’s objectives of reviving the economy,” she added.
