In a concerted effort to bolster economic growth and development in Nigeria, Providus Bank, an SME-focused bank, has teamed up with the Enterprise Development Center (EDC) of Pan Atlantic University to empower aspiring entrepreneurs with essential resources such as capacity building, access to markets, and funding opportunities. This collaborative initiative reflects the federal government’s commitment to fostering the growth of small and medium enterprises (SMEs) for national development.
Head of SME at Providus Bank, Damilola Feyide, announced the launch of the fourth edition of the Providus SME Program during an event in Lagos. This program, conducted in partnership with EDC, aims to train 60 entrepreneurs through comprehensive capacity-building initiatives.
Feyide emphasized the program’s objective of nurturing thriving businesses in Nigeria, thereby enhancing their contributions to the nation’s GDP. She highlighted the program’s comprehensive support, including access to funding and domestic as well as global markets, which participants will benefit from within six months after completion.
Explaining the selection process, Feyide revealed that out of over 3,000 applicants nationwide, 200 were shortlisted, and after rigorous evaluations, 70 entrepreneurs were chosen, with the final 60 emerging as the best candidates for the program.
Notably, Providus Bank has established an SME desk dedicated to designing programs that foster SME development. In addition to capacity building, participants now have access to market opportunities and discounted interest-rate loans, marking a significant enhancement in this edition of the program.
Dr. Olawale Anifowose, Director of Programs and Partnership at EDC, emphasized the center’s commitment to supporting small and growing businesses through capacity building. He urged other corporate entities in Nigeria to emulate Providus Bank’s initiative, recognizing the critical role SMEs play in the nation’s economic development.
Participants such as John Akande, founder of Zozzah, and Omoiwhi Igizinedon, Founder and CEO of Art-Reflections, expressed their gratitude for the program, citing its invaluable contributions to their business growth and networking opportunities.
The collaboration between Providus Bank and EDC underscores a proactive approach to fostering entrepreneurship, driving economic prosperity, and empowering Nigerian entrepreneurs to thrive in a competitive market landscape.
