BrandArena: And the 2015 SME Lender Bank is Fidelity Bank

Monday 10 August 2015

And the 2015 SME Lender Bank is Fidelity Bank

The Lagos Chamber of Commerce and Industry (LCCI) has adjudged Fidelity Bank the SME Lender Bank of the year 2015.

At an award ceremony in Lagos over the weekend to recognize deserving corporate organisations that have made significant contributions towards the advancement of the economy, LCCI said Fidelity Bank came top in all the measuring parameters after a rigorous selection process involving competing SME focused banks in the country.

 “This award is the outcome of a painstaking selection process from entries received for this award and backed by feedbacks from industry/ market monitoring and regulatory bodies.”

While receiving the award, Managing Director, Fidelity Bank Plc. Nnamdi Okonkwo,  said the award underscores the lender's role in the SMEs space which completely aligns with the government's goal of ensuring rapid economic development using the SMEs as the catalyst.

Represented by the Executive Director, Shared Services, Chijioke Ugochukwu, Okonkwo said the bank recognised the role of the SMEs as the engine room of the economy, prompting the management of 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,” he stated.

Okonkwo, who is a member of the Technical Implementation Committee of the National Council on Micro, Small and Medium Enterprises (MSMEs), the body charged with the task of developing a value chain intervention strategy for SMEs in the country and solve the difficulties encountered by small businesses in their strive to source finance, also said Fidelity Bank offers MSMEs access to markets via the shared platform to enable them sell their products and services as well as access to funding by providing specialized funding agencies.

He praised LCCI for initiating the award and assured of the bank’s commitment to continue to be a formidable channel for the growth of SMEs in Nigeria.

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