Fidelity Bank Plc has entered into a strategic partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to drive the growth of micro, small and medium enterprises (MSMEs) across Africa.
The collaboration, formalized through a memorandum of understanding signed at Fidelity Bank’s head office in Lagos, will allow the bank to offer low-interest loans and business support to MSMEs referred by SMEDAN. This partnership aims to strengthen Nigerian entrepreneurs, particularly in areas such as finance, skills development, and market expansion.
Speaking at the event, a Fidelity Bank executive said the initiative marks a renewed commitment to empowering MSMEs, acknowledging their key role in economic growth, job creation, and national development. The bank also reaffirmed its over two-decade history of championing small business innovation and support.
Fidelity Bank and SMEDAN plan to jointly develop strategies to foster sustainable growth in the MSME sector. These strategies will include financial literacy programs, business development support, access to wider markets, and recognition for outstanding MSMEs.
SMEDAN’s Director General highlighted the partnership’s significance in nurturing micro enterprises and scaling their operations across the African market. He applauded Fidelity Bank for its consistent support of small businesses and expressed optimism about the partnership’s potential to stimulate entrepreneurship and economic progress.
