Nigeria: Wema Bank advocates digital empowerment for MSMEs

Wema Bank has urged stakeholders to focus on enhancing digital empowerment for Micro, Small, and Medium Enterprises (MSMEs) to foster a sustainable MSME ecosystem.

This call was made during the International MSME Day and MSME Awards Night 2024, a dual event organized by the federal government through the Office of the Vice President to commemorate World MSME Day 2024, held over the weekend.

Tagged, “Call to Action: Provision of Sustainable Single-Digit Loans for MSMEs,” the event proffered sustainable financial solutions to provide affordable loans and funding for MSMEs, ensuring easy accessibility and availability.

Representing the MD/CEO of Wema Bank, Moruf Oseni, the Bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku, emphasised the need to prioritise technology and digital empowerment, complementing capacity development, financial empowerment, and collaborative efforts to build 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 transferable digital skills to ensure they are not left behind in the digital evolution,” he said.