Access Bank to train 500,000 MSMEs on financials and ICT

Access Bank GMD buys 50 million additional shares

In line with its vision of growing the economy, Access Bank of Nigeria Plc says it is planning to train about 500,000 players in the Micro Small and Medium Enterprises (MSMEs) space, aside assisting them with loans where necessary.

The Deputy Managing Director of the Bank, Mrs Chizoma Okoli, made the disclosure in Abuja at the 5th National MSME Award held at the Presidential Villa, Abuja.

Read:  Glo beats others to achieve customer growth in July –Industry report

According to her, the bank has since unveiled the Access Bank SMEs zone, a robust blueprint designed specifically for supporting the MSMEs, in recognition of their strategic place in the economy.

She revealed that Access Bank has already trained about 100,000 of such small businesses after the management discovered that many of them needed to be educated  on financials, cash flow management, HR, technology and other areas.

Read:  Startups get $2.5b funding in five years

She said: “Now, for us, we have invested a lot in infrastructure and technology to make sure that we support the SME sector. So, we have loans for SMEs both digitally otherwise; where they can sit down at the comfort of their homes and access up to N10 million without collateral. 

“So, we believe, as you heard, in the statements of the VP that the SMEs contribute 90% of world businesses and 50% of employment. And what does that mean? That means that SMEs are an integral part of any economy. So, any economy that has no support for the SMEs would definitely not grow.

Read:  10 banks rake in N266bn from account maintenance

“But beyond the funds, many SMEs do not know the difference between company funds and their personal funds.


Related posts

Miriam Olusanya becomes first female GTBank Managing Director


How Dangote’s $18.5bn refinery’ll boost energy security, foreign exchange


CBN Communique 142 of Monetary Policy Committee Meeting held May 2022


Nestle SA buys N90bn stake in Nigerian arm


Notore posts N1.5bn profit in Q1


First Bank kicks off CR&S week in 7 countries


Leave a Comment