Keystone Bank, Enugu raise stake in SMEs development

Keystone Bank Plc and Enugu State Government have raised their support for the development of 100 Micro Small and Medium Enterprises (MSMEs) in the state.

The latest partnership, according to Keystone Bank, is in line with its continuous economic empowerment campaign aimed at raising the bar of small business, which form by the bedrock of the nation’s economy.

In the partnership, 100 entrepreneurs were recently endowed with a financial aid of N50,000 each, to enhance their various trades, which ultimately translates to a boost in the local businesses in the state and the economy at large.

The State Governor, Ifeanyi Ugwuanyi, at the event, lauded the bank’s commitment and support of the campaign for growth of small businesses in the state.

The Acting Managing Director, Keystone Bank, Hafiz Bakare, represented by the Head, South Directorate, Rowly Isioro, said: “Keystone Bank has been at the forefront of empowering MSMEs as they drive economic growth from the grass roots of the society.”

This, he said, also “helps to boost our drive for financial inclusion of the un-banked in Nigeria which is in line with Central Bank of Nigeria’s (CBN) directive.”

Bakare said the importance of MSMEs to the development of the nation’s economy is significant, noting that they provide a means of employment generation, improvement of local technology, output diversification, development of indigenous entrepreneurship and forward integration with larger-scale industries.