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Bank chief harps on cost management strategy for SMEs


FBN Capital

FBN Capital

First Bank of Nigeria Limited has urged operators of Small and Medium Enterprises (SMEs) to adopt cost management strategy in order to enhance business sustainability.

The Chairman-designate, First Bank of Nigeria Limited, Mrs. Ibukun Awosika, who gave the charge at the SME Workshop for Women owners of SMEs in Nigeria held at the First Bank Sustainability Centre, Lagos said efficient cost management are processes that every SMEs owners should adopt to guarantee growth and sustainability of businesses.

Awosika noted that the workshop was sponsored by First Bank to promote empowerment, entrepreneurship and financial inclusion amongst women.

According to her, sustainability is a business approach that creates long term shareholders value by embracing opportunities and managing risks deriving from economic, environmental and social development.

She noted that FirstBank Sustainability Centre has reinforced its commitment to promoting empowerment, entrepreneurship and financial inclusion amongst women through its sponsorship of a workshop for women owners of SMEs in Nigeria.

According to her, the workshop was designed to further equip women for enterprise development as well as assist in the transformation and expansion of women’s businesses into enterprises generating employment, economic benefits and social value. 

Awosika also noted that it offered a sustainable growth strategy for women-led SMES such as sustainable business methods that can improve the SME practitioner’s bottom line, funding options that support sustainability.

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