VENTURES AFRICA – As part of its commitment to empower Micro Small and Medium Enterprises (MSMEs) in Nigeria, Heritage Banking Company Limited has launched a Small and Medium scale Enterprises (SMEs) clinic that will help small businesses address challenges associated with setting up businesses while mitigating the effect of certain decisions that may be taken.
MD/CEO of Heritage Bank, Ifie Sekibo said the clinic will also provide industry specific solutions that would drive the growth of SMEs.
Speaking at the launching of the service in Lagos, Sekibo noted that the clinic was established as a result of the gap left by financial service providers in failing to provide fresh ideas, solution based strategies and specialized service packages to small businesses.
He said although small and medium scale enterprises (SMEs) have proved to be the crucial engines of industrial growth in developing economies like Nigeria, it is necessary to create strategies that can withstand the dynamics of the changing business environment rather than focusing on funds generation.
Sekido stressed on the value and opportunities in SMEs, but indicated that most banks don’t have the skills to mentor small businesses.
“Money is not the first thing to get business right; there are things that must be put in place first before money,” he said.
Heritage Banking Company Limited is an offshoot of the defunct Societe General Bank of Nigeria (SGBN) which failed to meet the Central Bank of Nigeria (CBN) capitalisation quota in 2006/2007. It recommenced operation in March 2013 as a regional bank with focus on SME growth in Nigeria.
The bank hopes to get at least five SMEs listed on the floor of the Nigerian Stock Exchange within the next three years.
The post Heritage Bank Launches SME Clinic To Grow Businesses appeared first on Ventures Africa | .
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