Fidelity Bank Plc has reiterated its commitment to supporting the growth of Small and Medium-sized Enterprises (SMEs) in Nigeria through affordable financing, business advisory services and capacity-building initiatives.
The bank reaffirmed its commitment at the Abuja edition of its quarterly SME Business Forum, themed “Built to Compete: Positioning Abuja Businesses for Sustainable Growth,” which brought together entrepreneurs, industry stakeholders and regulatory representatives to discuss challenges and opportunities in the SME sector.
Speaking at the forum, Executive Director, North Directorate, Fidelity Bank Plc, Sufiyanu Garba, said the bank remained committed to providing entrepreneurs with the financing, knowledge, connections and business solutions needed to achieve sustainable growth.
He, however, urged business owners to embrace financial discipline, maintain proper business structures and leverage technology to improve efficiency and competitiveness.
Garba noted that strong sales figures did not necessarily translate into profitability, stressing that effective cash flow management, cost control, proper record-keeping and prudent working capital management were essential to business sustainability.
He explained that the bank offered various financing options, including working capital facilities, overdrafts, term loans, asset and equipment financing, trade finance and structured lending, designed to meet the diverse funding requirements of businesses.
The executive director also disclosed that Fidelity Bank was partnering with on-lending institutions to provide eligible businesses with intervention funds at interest rates ranging from 10 to 16 per cent, depending on the applicable scheme.
According to him, the initiative is aimed at reducing the financial burden on entrepreneurs, particularly women-owned businesses, youth-led enterprises and businesses operating in the green economy.
He said access to affordable financing remained critical to SME development, adding that the bank was determined to ensure that viable businesses received the financial support required to expand their operations and compete effectively.
Beyond financing, the forum provided participants with opportunities to engage regulatory stakeholders on taxation, customs procedures, importation, exportation and other regulatory issues affecting business operations.
Commending the initiative, Secretary of the Iron Dealers Association, Mararaba, Okwuchukwu Okolo, described the forum as a valuable platform for entrepreneurs to obtain clarification on multiple taxation and customs procedures.
He said the opportunity to interact directly with the bank and relevant regulatory agencies would help business owners better understand their obligations and address operational challenges.
Similarly, Chief Executive Officer of Febesth Global Resources Limited, Abuja, Folake Olufemi, praised the bank for creating opportunities for knowledge-sharing and networking.
Olufemi said the engagement provided useful insights into importation procedures and appropriate channels for resolving customs-related complaints, while also enabling participants to discuss business challenges directly with the bank.
With previous editions held in Lagos, Kano and Port Harcourt, the quarterly SME Business Forum is part of Fidelity Bank’s broader efforts to strengthen Nigerian businesses through access to finance, market opportunities, relevant knowledge and strategic partnerships.
Fidelity Bank Plc is a full-fledged commercial deposit money bank serving over 10 million customers through digital banking channels and 255 business offices across Nigeria, as well as its United Kingdom subsidiary, FidBank UK Limited.
The bank has received several local and international recognitions, including the 2025 Development Bank of Nigeria Innovation Award for MSME Support, Best Retail and SME Bank Award from Independent Newspapers, and Best Bank for Export and Trade Finance at the 2025 BusinessDay Banks and Financial Institutions Awards.
Other honours include Nigeria’s Best Private Bank at the 2025 Euromoney Awards, SME Bank of the Year by NewsDirect, and the Straight-Through Processing Excellence Award by Citi Group.
