Wema Bank has reaffirmed its dedication to scaling Nigeria’s small business sector, describing entrepreneurs as the primary engine for the nation’s sustainable economic growth.
This renewed pledge follows a landmark performance at the Global SME Banking Innovation Awards 2026, where the bank emerged as a double winner. The institution took home the titles of SME Financier of the Year and Best SME Lending Product – Digital Bank, recognising its aggressive expansion of credit access and the development of a digital-first ecosystem designed to bypass traditional hurdles in the banking sector.
The Managing Director and Chief Executive Officer, Moruf Oseni, noted that the awards serve as both a milestone and a mandate to deepen the bank’s support for the local business community.
“Small and medium-sized businesses remain the backbone of Nigeria’s economy. They drive innovation, job creation and sustainable economic growth,” Oseni stated.
He further emphasised that the bank’s strategy has shifted away from mere transactions towards building a holistic support structure.
“At Wema Bank, we recognise the immense potential of this sector and the challenges many entrepreneurs face in accessing the financial tools required to scale. This is why we have been deliberate about building an ecosystem that goes beyond traditional banking and provides entrepreneurs with accessible financing, seamless digital solutions, advisory support and market opportunities that help them thrive,” he added.
A centrepiece of the bank’s success is the MSME Instant Loan, which secured the award for Best SME Lending Product. By utilising a fully digital, collateral-free application process, the bank has successfully reduced the time to disbursement from weeks to minutes.
The executive director of retail and digital banking, Tunde Mabawonku, highlighted how technology is democratising access to capital, noting that “technology-driven lending models and digital capabilities are helping remove longstanding barriers to credit while expanding financial inclusion among entrepreneurs”.
Wema Bank’s support for MSMEs extends into specialised demographics and digital capacity building. Through its ALAT ecosystem and the women-focused SARA by Wema initiative, the bank provides targeted advisory, training programmes and integrated collection platforms to simplify business operations.
With more than 80 years of history, the bank concluded that its mission remains rooted in driving inclusive growth through high-tech, high-impact partnerships. As Oseni concluded, “These awards affirm our commitment to empowering businesses and strengthening the foundations of enterprise across Nigeria.”
