To enhance Nigeria’s economic landscape, Wema Bank has successfully empowered 40 Small and Medium Enterprises (SMEs) through its pioneering Wema Export Trade Academy. The initiative is designed to equip SMEs with the skills and knowledge necessary to thrive in international markets.
The five-day training sessions were led by prominent industry experts, including Dr. Bamidele Ayemibo, known as the “Export Doctor,” and Dr. Nduka Udeh, founder of Shoptomydoor, both of whom are well-established authorities in international trade and global logistics. The training focused on crucial areas such as export documentation, compliance, financial planning, and risk management, providing participants with a deep understanding of the export process.
Training Highlights and Key Takeaways
Export Documentation and Compliance: Participants learned the essentials of handling export paperwork and ensuring they meet global trade standards.
Financial Planning: Dr. Ayemibo emphasized the importance of understanding the financial needs of exporters and how to manage finances effectively for sustainable growth.
Risk Management: SMEs were introduced to strategies for managing risks in international trade, helping them navigate global market uncertainties.
Identifying Global Buyers: The academy also provided insight into identifying potential international buyers and understanding their expectations.
Dr. Ayemibo’s Insights
Dr. Ayemibo highlighted that the goal of the academy is to support SMEs already engaged in exports and those looking to enter the export space. He stressed the importance of adopting sustainable practices and implementing real-world insights to enhance business operations. According to him, many participants who were already exporting realized that some of their practices were suboptimal, and they now have the tools to improve.
“What we have been doing over the past five days is to help those already doing exports to do it in a better and more sustainable way,” Dr. Ayemibo noted.
Mr. Tajudeen Bakare, Division Head of Operations at Wema Bank, emphasized that the bank’s support does not end with training alone. He assured participants that Wema Bank would provide both financial resources and skills development to help SMEs thrive in international markets. He added that the initiative is not just a one-time event but a partnership that will continue as SMEs grow.
“We are going to equip them with the necessary resources, both financial and skills, that they require. It is going to be a partnership that begins with them,” Bakare stated.
Through initiatives like the Wema Export Trade Academy, Wema Bank is playing a crucial role in empowering SMEs to expand beyond local borders and succeed in the global marketplace. The bank’s comprehensive approach, which includes both training and continued support, is designed to foster sustainable growth and international trade success for Nigerian businesses.
