Wema Bank digital empowerment MSMEs Sun Nigeria

Wema Bank urges stakeholders to prioritize digital empowerment for MSMEs, emphasizing sustainable financial solutions and accessible funding at recent event.

Wema Bank is urging stakeholders to place a high priority on digital empowerment for Micro, Small, and Medium-sized Enterprises (MSMEs) in Nigeria. This call to action was emphasized at the International MSMEs Day and MSME Awards Night 2024, hosted by the Office of the Vice President to celebrate World MSME Day 2024 in Abuja.

The event, themed "Call to Action: Provision of Sustainable Single Digit Loans for MSMEs," brought together financial institutions like Wema Bank to collaborate on sustainable financial solutions. The goal is not only to offer affordable loans and funding options for MSMEs but also to ensure that these solutions are easily accessible and readily available to support the growth of MSMEs.

Tunde Mabawonku, the Executive Director of Retail and Digital Business at Wema Bank, represented the Managing Director, Moruf Oseni, at the event. He stressed the importance of prioritizing technology and digital empowerment alongside capacity building, financial support, and collaborative efforts to create a conducive ecosystem for MSMEs to thrive.

Wema Bank's approach aligns with the philosophy of teaching individuals to fish rather than just providing them with fish. They believe that technology is the future and essential for the success of MSMEs in the digital age. In addition to financial assistance, Wema Bank is focused on equipping MSMEs with the necessary digital skills to navigate the digital landscape effectively, stay competitive, and make the most of available resources.

The bank's ultimate goal is to ensure digital empowerment for MSMEs at scale. To achieve this, Wema Bank continues to forge partnerships with various reputable organizations, including banks, agencies, and regulatory bodies, both locally and internationally. By collaborating with these entities, Wema Bank aims to maximize its impact and support MSMEs in adapting to the evolving digital world.