Fidelity Bank Plc has announced plans to expand its capacity in the non-oil sector for small and medium companies (SMEs). This, it added, is in line with its commitment to assisting Nigerian businesses in developing long-term export capacities.
The bank will run its 11th and 12th editions of the highly regarded export management program in this regard (EMP). The EMP was launched in 2016 to prepare participants for real-world experience in the worldwide non-oil export market as well as the larger export market.
“As a prominent supporter of small businesses, we created the EMP five years ago to bridge the knowledge gap in the export business locally and to enable participants to compete effectively in the global export market,” said Mrs Nneka Onyeali-Ikpe, managing director of Fidelity Bank.
“Given the success, we have recorded in the course of the programme and following the yearnings of potential participants, we decided to host an edition of the training in Kano for those who are unable to attend the session in Lagos,” she explained.
According to Onyeali-Ikpe, the importance of supporting the non-oil sector of the economy cannot be overstated, considering the enormous benefits it brings to the economy and the country in terms of attracting much-needed foreign exchange investments, growing GDP, and creating jobs.
“This informs our decision to host the EMP regularly and we enjoin interested entrepreneurs to take advantage of this initiative to take their business to the next level,” she revealed.
Through strategic initiatives and collaborations, Fidelity Bank has proved its commitment to growing the non-oil export sector of the economy throughout the years.
Recall that, in the first half of 2021, Fidelity Bank Plc increased earnings before taxes by 72.4 per cent.
The bank’s reports, which were issued over the weekend on the Nigerian Exchange (NGX) Limited, revealed a solid financial performance in the time under review.
According to the unaudited data, gross earnings increased by 6.2 per cent to ₦112.304 billion from ₦105.755 billion. In the same way, net interest income climbed from ₦48.320 billion in the first half of 2020 to ₦50.297 billion by the end of June 2021.