Stanbic IBTC Bank Plc, a leading financial institution and subsidiary of Stanbic IBTC Holdings PLC, has reinforced its dedication to empowering Small and Medium Scale Enterprises (SMEs) by teaming up with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

Disclosing this in a statement, the bank said the strategic partnership aims to provide training for 3000 SMEs across several states in Nigeria.

‘‘This collaboration is a testament to Stanbic IBTC’s unwavering commitment to supporting the growth and development of the SME sector in Nigeria. The initiative is centred around the Enterprise Academy training program, which has already empowered more than 5000 SMEs since its inception in 2021,’’ the statement read in part.

Chief Executive of Stanbic IBTC Bank, Mr. Wole Adeniyi, underscored the crucial role played by SMEs in the nation’s economy. He remarked, “SMEs are the backbone of our economy, and we acknowledge the vital role they play in driving economic growth and creating employment opportunities. Through our partnership with SMEDAN, we aim to empower SMEs with the knowledge and tools needed to thrive in today’s competitive business landscape.”

Dr. Olawale Tunde Fasanya, Director-General of SMEDAN, expressed his enthusiasm for the recently signed partnership, recognizing the significance of having a trusted financial partner for business growth. He commended the collaboration with Stanbic IBTC Bank, emphasising how it will empower, equip, and expedite the growth of SMEs, thereby amplifying their contribution to the economy.