Fidelity Bank Plc has reaffirmed its commitment to promoting the growth and competitiveness of Nigeria’s Small and Medium-sized Enterprises (SMEs) through improved access to affordable financing, business advisory services and capacity-building programmes.
The bank reiterated its commitment at the Abuja edition of its quarterly SME Business Forum, themed “Built to Compete: Positioning Abuja Businesses for Sustainable Growth.” The event brought together entrepreneurs, industry stakeholders and regulatory representatives to discuss challenges affecting business operations, competitiveness and long-term growth.
Speaking at the forum, Executive Director, North Directorate, Fidelity Bank Plc, Sufiyanu Garba, assured entrepreneurs of the bank’s continued support through financing, business knowledge, strategic connections and innovative solutions.
He, however, urged business owners to embrace financial discipline, strengthen their business structures and leverage technology to improve efficiency and profitability.
According to Garba, strong sales figures do not necessarily translate into business profitability or healthy cash flow, stressing the importance of proper financial management, effective cost control, reliable record-keeping and technology-driven decision-making.
He explained that these practices would position businesses to access financing, pursue bigger opportunities and compete effectively in the marketplace.
Garba disclosed that Fidelity Bank offers a range of financing solutions, including working capital facilities, overdrafts, term loans, asset and equipment financing, trade finance and structured lending, designed to address the specific funding requirements and operating cycles of businesses.
He further revealed that the bank was partnering with on-lending institutions to facilitate access to intervention funds at interest rates ranging from 10 to 16 per cent, depending on the applicable funding scheme.
“Access to affordable finance remains critical to SME growth. At Fidelity Bank, we are working with intervention funding partners to provide eligible businesses with financing at significantly reduced interest rates. Our goal is to ensure that promising businesses have the financial support they need to grow sustainably,” he said.
He noted that the initiative was particularly designed to ease financial pressures on entrepreneurs, with special consideration for women-owned businesses, youth-led enterprises and businesses operating in environmentally sustainable sectors.
Beyond financing, the forum provided an avenue for entrepreneurs to interact with regulatory stakeholders and seek clarification on taxation, customs procedures, importation, exportation and other regulatory issues affecting business operations.
Commending Fidelity Bank for organising the programme, Secretary of the Iron Dealers Association, Mararaba, Okwuchukwu Okolo, described the forum as a valuable platform for business owners to engage directly with financial institutions and relevant regulatory agencies.
He said the engagement provided useful clarification on multiple taxation and customs procedures, while enabling entrepreneurs to seek practical guidance on their regulatory responsibilities.
Similarly, Chief Executive Officer of Febesth Global Resources Limited, Abuja, Folake Olufemi, praised the bank for creating opportunities for knowledge-sharing, networking and direct engagement with business stakeholders.
She said the programme provided valuable insights into importation procedures and appropriate channels for addressing customs-related complaints, while offering participants opportunities to discuss challenges affecting their businesses with the bank.
With previous editions successfully held in Lagos, Kano and Port Harcourt, the Fidelity SME Quarterly Business Forum is part of the bank’s broader strategy to empower Nigerian entrepreneurs with the financing, knowledge, market access and strategic partnerships required to build resilient and competitive businesses.
About Fidelity Bank Plc
Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving more than 10 million customers through its digital banking platforms, 255 business offices across Nigeria and its United Kingdom subsidiary, FidBank UK Limited.
The bank has received several local and international recognitions for its contributions to financial services, innovation and SME development.
Its accolades include the 2025 Development Bank of Nigeria (DBN) Innovation Award for MSME Support; Best Retail and SME Bank Award by Independent Newspapers; Best Bank for Export & Trade Finance and Most Innovative Bank of the Year at the 2025 BusinessDay Banks and Financial Institutions (BAFI) Awards; and Nigeria’s Best Private Bank at the 2025 Euromoney Awards.
Other recognitions include the inaugural Most Improved Commercial Bank of the Year award by Nairametrics, SME Bank of the Year by NewsDirect, the Straight-Through Processing (STP) Excellence Award by Citi Group, and recognition for Excellence in Community Empowerment by Global Brands Magazine.
