Wema Bank gets recognition for its assistance of SMEs

KPMG Nigeria has recognized Wema Bank Plc for its assistance to Small and Medium Enterprises.

A statement on Tuesday said the 2021 KPMG Nigeria Banking Industry Customer Experience Survey classified Wema Bank as number three in SME banking, which is three places higher than the bank’s 2020 classification.

Wema Bank gets recognition for its assistance of SMEs

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 said in the last one year, it pioneered the establishment of the first bank-led SME business school in the country, aimed at boosting critical knowledge and capabilities for SMEs at no cost to beneficiaries.

According to the statement, the business school, which enjoys the support of the Frankfurt School of Finance and Management, Germany, has reputable consultants and organizations such as Ernst & Young, MTN, Microsoft, Google, Agusto, and others.

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Commenting on the KPMG ranking, the Managing Director/Chief Executive Officer, Wema Bank, Ademola Adebise, said it was an affirmation of the bank’s commitment to the growth and wellbeing of SMEs as critical contributors to the economy.

“At Wema Bank, we recognize 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.