Wema Bank Plc, has charged stakeholders to prioritise digital empowerment for MSMEs as a measure for championing a sustainable MSME ecosystem in Nigeria.

This charge was made at the International MSMEs Day and MSME Awards night 2024; a twofold event organised by the federal government through the Office of the Vice President in commemoration of World MSME Day 2024.

The International MSMEs Day and MSME Awards night 2024 held in Abuja on June 27, 2024, is a celebration targeted at not only acknowledging the successes in the Nigerian MSME Sector but also developing sustainable solutions for the continuous growth and development of the sector, to ultimately boost the Nigerian economy.

The event with the theme, ‘Call to Action: Provision f Sustainable Single-digit Loans for MSMEs’, convened top reputable institutions and entities including Wema Bank, to brainstorm and proffer sustainable financial solutions to not only provide affordable loans and funding for MSMEs, but to also ensure that these financial solutions are easily accessible and available to MSMEs.

Representing the MD/CEO of Wema Bank, Moruf Oseni, the executive director of Retail and Digital Business, Tunde Mabawonku emphasised the pressing need to prioritise technology and digital empowerment in complement to capacity development, financial empowerment and collaborative efforts, towards building a supportive ecosystem for MSMEs to thrive.

“At Wema Bank, our approach embodies the saying ‘Give a man fish, he will come back but teach a man to fish, he will learn to fend for himself and others’. Technology and digital are the future, and intelligence is here to stay. What we are doing for these MSMEs is beyond providing the finances they need. We are also focusing on empowering them with relevant and transferrable digital skills to ensure they are not left behind in this digital evolution,” he said.

He added that “to maximise our impact, we continue to partner with several bodies and institutions across the world, from Banks to Agencies, Regulatory organisations, among others.

“We will continue to combine efforts and pool resources where ideal to create an enabling environment for businesses to thrive, provide financial support and other resources that these businesses need and empower them to skillfully utilise the resources available to them for maximum impact and growth.”

Wema Bank has exemplified the significance of developing tailored and unique solutions to the evolving needs of diverse MSMEs across the nation.

At the event, the Bank also awarded a brand-new car to the female winner of the ‘Outstanding MSME Clinic’ award category, in addition to the N2 million prize slated for this category.