Providusbank, in collaboration with the Enterprise Development Centre, has launched the fifth cohort of its flagship “Providus Bank SME Programme” in Lagos and Abuja, reaffirming its commitment to empowering small and medium-sized enterprises across Nigeria.
Marking the bank’s fifth anniversary of fostering entrepreneurship, the programme was officially launched at a press conference held recently in Lagos.
According to the Head of SME Strategy at ProvidusBank, Damilola Feyide, over 300 SME owners have benefitted from the initiative since its inception in 2020. This year, the programme extends its reach beyond Lagos to Abuja, targeting a broader audience of entrepreneurs.
“It is a day of celebration for us as a bank. We are recommitting ourselves to the SME space, announcing today that we are launching the Providusbank SME programme in Lagos and Abuja. We hope it continues to grow,” Feyide said.
She highlighted the programme’s foundation as critical to the bank’s broader efforts in supporting small businesses and commended the EDC’s partnership in delivering essential training, which she described as fundamental to Nigeria’s economic growth.
Also, a member of the EDC Board of Directors, Dr Nnenna Ugwu, applauded that bank’s dedication to nurturing entrepreneurs.
“This is the fifth run of the Providusbank SME Programme. The bank has truly demonstrated its commitment to building the SME space. We appreciate their love and support,” she said.
Ugwu further encouraged SME owners to prioritise integrity in their business operations.
Participants shared inspiring testimonials during the event, showcasing the programme’s transformative impact.
On his part, the Managing Director and Chief Executive Officer of Onebrick Investment Limited, Bayonle Lawal, explained how the initiative significantly improved his business processes. “What I learnt exceeded my expectations and has enhanced my management skills,” Lawal stated.
Similarly, Taiwo Ajayi, founder and CEO of Polaris Power Solutions Ltd and Lekki Solar Company Ltd, lauded the programme for improving his bookkeeping knowledge and strengthening his business operations.
Feyide further revealed that the initiative began during the COVID-19 pandemic to support struggling SMEs.
“We wanted to do something beyond loans because COVID exposed businesses uniquely. We partnered with EDC to co-develop this programme, which includes training, business advisory, and access to discounted loans,” she explained.
Importantly, participation in the programme is free and fully funded by Providus Bank, which Feyide emphasised as a testament to the bank’s dedication to fostering entrepreneurship and helping SMEs thrive in challenging economic times.
As the Providusbank SME Programme marks its fifth year, its expansion to Abuja reflects a growing ambition to impact more entrepreneurs and contribute significantly to Nigeria’s SME sector.
