Finance

Fidelity Bank grows Nigerian export sector with its EMP 12 initiative

Fidelity Bank shareholders to get 60 kobo dividend

Entrepreneurs that participated in the 12th edition of the Fidelity Bank’s Export Management Programme (EMP 12) have commended the bank for providing hands-on training on the opportunities in the international market and how to develop their capacity to play big in the export space.

The EMP, launched in 2016 and hosted in partnership with the Lagos Business School and the Nigerian Export Promotion Council (NEPC), is designed to equip entrepreneurs with requisite knowledge for driving the country’s non-oil exports.

Commenting on the on the final day of the weeklong training, Divisional Head, Export and Agriculture, Fidelity Bank Plc, Isaiah Ndukwe said, “Most people think that non-oil exports is just about earning in dollars. I think it’s beyond that. A key upside to an export-oriented business or economy is that it makes you super competitive over time eg improvements in processes, product design and packaging, quality and cost optimizations. That is why beyond the obvious, which is dollar earnings, we are big on helping businesses build export business management capacities.”

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One of the participants at the programme and CEO, Sochi June Limited, exporters of cashew, sesame seed and chilli pepper, Mrs. Ifeyinma Hart commended Fidelity Bank for not only subsidizing her attendance at the training but empowering her with knowledge to her increase her business footprint in the international market.

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Another entrepreneur, Ruth Chukwukezirim, who is a licensed freight forwarder said she has benefited a lot from the EMP by Fidelity Bank, maintaining that the programme has exposed her to detailed information regarding the export industry.

She stated that, “The programme has exposed me to standard practises and in-depth knowledge into some regulations guiding exports of goods in the international market. I also found the discussion on the repatriation process anchored by Fidelity Bank very interesting as I have just found out that as an exporter, I am expected to repatriate FX earnings through the same bank back to the country that facilitated the export; and if I am interested in importing any item, the FX has to first be recognized as an inflow into the bank account I used in initiating the export in the first place.”

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