FCMB Partners SkillPaddy To Launch SME Accelerator Programme
By Ted Iwere
FCMB has announced that it has launched an accelerator programme to help over one million small and medium-sized businesses in Nigeria.
The programme which was launched in partnership with SkillPaddy and other industry experts, equips startups and existing businesses with the skills and resources necessary to develop innovative products and services, create new markets, and fast-track their growth.
The FCMB accelerator programme aims to upskill around one million SMEs through a Technical Assistance grant. Proparco has granted ₦284.7 million for this purpose, while the African Development Bank (AfDB) has provided another ₦227 million. These will enable FCMB to facilitate the successful onboarding and empowerment of SMEs, including women entrepreneurs, under its SheVentures proposition and those operating in high-impact sectors like agriculture, renewable energy, and digital.
According to the bank’s head of SME Banking, Mr George Ogbonnaya “The FCMB Accelerator Programme reaffirms our dedication to empowering businesses effectively.”
Read More: Three Ways To Own Your Small Business
FCMB has committed to supporting small and medium-sized enterprises (SMEs) led by women. The bank aims to empower these entrepreneurs through mentorship and access to finance. According to Ogbonnaya, this will help to bring about positive change for SMEs.
The partnership between FCMB and SkillPaddy, a startup accelerator, is expected to be a game-changer for SMEs. By accelerating productivity, this collaboration will unlock doors of opportunity for both startups and existing businesses. Ultimately, this will boost Nigeria’s economic growth, according to Kunle Erinle, Founder and CEO of SkillPaddy.
FCMB has a strong track record of supporting SMEs. Since 2018, the bank has extended ₦1.343 trillion in credit to over 98,000 SMEs across diverse sectors.
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