Fidelity Bank Plc has pledged its continued support for the micro, small and medium enterprise sector whose activities were disrupted in the heat of the COVID-19 pandemic.
The bank made the disclosure recently at the 13th edition of the Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria.
Speaking at one of the panel sessions, Divisional Head, SME Banking Division, Osaigbovo Omorogbe, said the bank’s commitment was borne out of the realization that SMEs are the engine room of any economy.
“The ability of MSMEs to stay on sustainably at this time, and even become more attractive for various types of funding support will undoubtedly be strengthened with deepened capacity building support, both on the back and front office ends,” said Omorogbe.
He explained that there was a compelling need for relevant stakeholders to deepen capacity-building support for MSMEs in various areas, ahead of funding support, to enable them position more strongly to stay afloat and even grow in the new normal.
While insisting that a one-size-fits-all capacity building model/approach for MSMEs will no longer help, Omorogbe stressed the need for more tailored capacity building support that will take into account the peculiarities and challenges MSMEs are facing.