The recent signing of a partnership agreement between Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holding, and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is expected to provide empowerment for about 3000 Small and Medium Enterprises (SMEs) across various states in Nigeria.

According to a statement released in this regard, it is part of the duo’s commitment to empowering Small and Medium Scale Enterprises (SMEs) in the country.

Speaking on the essence of the partnership, the Chief Executive of Stanbic IBTC Bank, Wole Adeniyi, emphasized the significant contributions of SMEs to the economy.

“SMEs are the backbone of our economy, and we acknowledge the vital role they play in driving economic growth and creating employment opportunities. Through our partnership with SMEDAN, we aim to empower SMEs with the knowledge and tools needed to thrive in today’s competitive business landscape”, Adeniyi stated.

To ensure broad participation nationwide, the Enterprise Academy training programme will be conducted in the following states across four key geopolitical zones in the country- Enugu, Port Harcourt, Ibadan, and Abuja. The training sessions will cover a wide range of topics relevant to SMEs, including business planning, financial management, and digital marketing strategies.

“We urge all SMEs to take advantage of this training opportunity,” Wole added.

on his part, the Director General, SMEDAN, Dr. Olawale Tunde Fasanya, expressed enthusiasm about the signed partnership, noting: “Establishing a trusted financial partner for growth is crucial to any business”.

Dr. Fasanya further expressed his satisfaction that the partnership with Stanbic IBTC Bank will empower, equip and expedite the growth of SMEs, thereby amplifying their contribution to the economy.

Stanbic IBTC Bank’s Enterprise Academy training program is designed to equip SMEs with the necessary tools to overcome challenges, enhance their operations, and drive sustainable growth. The training program is open to SMEs from various sectors, offering them a platform to learn, network, and access customized solutions tailored to their specific business needs.

The strategic collaboration between Stanbic IBTC and SMEDAN aligns with the bank’s commitment to supporting the growth and development of the SME sector in the country through its Enterprise Academy training program, an initiative that has facilitated the training of over 5000 SMEs since its launch in 2021.