KPMG Nigeria has recognized Wema Bank Plc for its support of Small and Medium Enterprises.
According to a statement issued on Tuesday, the 2021 KPMG Nigeria Banking Industry Customer Experience Survey ranked Wema Bank third in SME banking, three places higher than the bank’s 2020 ranking.
It said, “Wema Bank has been consistent in its drive to support the growth and development of SMEs in the country”.
“The bank has initiated several financial and advisory support programmes to boost SMEs, some of which include single-digit loans for women, uncollateralised loans for SMEs, quarterly SME webinars, access-to-market initiatives, and a plethora of other advisory and support services”.
Wema Bank stated that in the last year, it pioneered the establishment of the country’s first bank-led SME business school, to enhance critical knowledge and capabilities for SMEs at no cost to beneficiaries.
The business school, which is supported by the Frankfurt School of Finance and Management in Germany, has reputable consultants and organizations such as Ernst & Young, MTN, Microsoft, Google, Agusto, and others, according to the statement.
Ademola Adebise, Managing Director/Chief Executive Officer of Wema Bank, commented on the KPMG ranking, saying it was an affirmation of the bank’s commitment to the growth and well-being of SMEs as critical contributors to the economy.
“At Wema Bank, we recognise SMEs as an important part of the economy, and we are always on the lookout for their well-being. We are happy that the SMEs acknowledge our contributions, hence our ranking,” he added.
Recall that, Wema Bank Plc has launched an SME Business School to address knowledge and skill deficiencies in the management of small businesses. The Wema Bank SME Business School will provide small and medium business managers with the basic management skills they need to run their enterprises effectively and adapt to market demand.
Ademola Adebisi, the bank’s Chief Executive Officer, said the school, which is the first of its kind, is vital because “SMEs are key to alleviating poverty and unemployment as well as boosting the economy”. He said that the program, which will begin at the company’s training facility in Ilupeju, would be provided at no cost by top-notch local and international experts.