Stanbic IBTC, EDC partnership yields over 3,500 trained entrepreneurs

 Admin l Wednesday, August 18, 2021

LAGOS, Nigeria – As part of its commitment to help stimulate and grow a solid and active small and medium scale enterprises sector in Nigeria, Stanbic IBTC established the SME Capacity Building series, which has trained over 3,500 entrepreneurs in the country.

To further strengthen the initiative, the Bank, in 2019, entered a partnership with the Enterprise Development Centre (EDC) of the Lagos Business School. This partnership aims at equipping small and medium enterprises (SMEs) with skills and competencies needed to manage their businesses profitably, develop and pitch viable business proposals, maximise their business funds, trade and prepare them for easy access to finance.

Head, Enterprise Banking, Stanbic IBTC Bank Plc, Emeka Obasi, while speaking on the training, reiterated the Bank’s commitment to providing the proper support and solutions for individuals and businesses to achieve their goals.

“Stanbic IBTC’s commitment to building capacity among enterprises stems from our deep understanding of the important role these enterprises play in providing linkages to industries, employment generation and driving growth of the Nigerian economy,” he stated.

He added that participants are trained in essential topics such as Understanding your Market (Competition Analysis, Marketing Plan, Segmentation); Operation and Business Model; Business Plan (Template review and Development); Taxation; and Marketing, Business Management; among other relevant topics.

He said Stanbic IBTC Bank boasts of highly trained and motivated staff with the requisite expertise in enterprise financing and support. Executive Director, Business and Commercial Clients at Stanbic IBTC Bank, Remy Osuagwu, reaffirmed the Bank’s commitment to supporting enterprises.

According to Remy, “Our key mandate of financial intermediation ensures that we are mindful of providing the right support and solutions for individuals and businesses to achieve their goals and this workshop series represents another opportunity for Stanbic IBTC Bank; to help develop and sharpen participants’ business skills.”

He explained that as part of its support for small and medium scale enterprises, Stanbic IBTC regularly organises training for enterprise operators. This is among other benefits, and the trainings seek to equip enterprise operators with financial, marketing, and management skills that they can readily apply to transform their businesses to grow their bottom lines and ensure business continuity.