Get Guardian on GoogleFidelity Bank Plc, has improved access to affordable financing, business advisory services and capacity-building initiatives to strengthen Small and Medium-sized Enterprises (SMEs) across the country.
Speaking at the Abuja edition of its quarterly SME Business Forum, the Executive Director, North Directorate, Fidelity Bank Plc, Sufiyanu Garba, reiterated the bank’s commitment to supporting entrepreneurs with financing, knowledge, connections and solutions, while urging business owners to strengthen their financial discipline, structures and use of technology.
The forum themed: “Built to Compete: Positioning Abuja Businesses for Sustainable Growth,” brought together entrepreneurs, industry stakeholders and regulatory representatives to address key issues affecting business competitiveness and growth.
He emphasised that Fidelity Bank provides financing solutions covering working capital, overdrafts, term lending, asset and equipment finance, trade finance and structured lending, tailored to businesses’ funding needs and operating cycles.
Garba disclosed that the bank was collaborating with on-lending institutions to facilitate access to intervention funds at interest rates ranging from 10 to 16 per cent, depending on the applicable scheme.
He said the goal is to ensure that promising businesses have the financial support they need to grow sustainably.
He added that the initiative was designed to ease financing pressures on entrepreneurs, particularly women-owned businesses, youth-led enterprises and businesses operating in green sectors.
“A business may record strong sales and still struggle with cash flow. Sustainable growth requires business owners to understand what drives profitability, manage costs and working capital effectively, keep reliable records and use technology to make better decisions. These are the disciplines that position businesses to access finance, pursue larger opportunities and compete successfully,” he said.
The forum also provided a platform for entrepreneurs to engage regulatory stakeholders on taxation, customs procedures, importation, exportation and other issues affecting business operations.
Commending the initiative, Secretary of the Iron Dealers Association, Mararaba, Okwuchukwu Okolo, described the forum as a valuable opportunity for entrepreneurs to engage directly with the bank and relevant regulatory agencies.
“The Fidelity Bank SME Business Forum provided useful clarification on multiple taxation and customs procedures. It is encouraging to have a platform where business owners can raise concerns, receive practical guidance and better understand their regulatory obligations,” Okolo said.
Similarly, Chief Executive Officer, Febesth Global Resources Limited, Abuja, Folake Olufemi, applauded Fidelity Bank for facilitating knowledge-sharing and networking opportunities.
She said she gained valuable insights into importation procedures and the appropriate channels for resolving customs-related complaints, while getting opportunities to network and engage directly with the bank on challenges affecting his businesses.
