Wema Bank Boosts SMEs, Launches Business School

Wema Bank said it is committed to the growth and development of Nigerian Small and Medium Enterprises (SMEs) with the launch of an SME Business School. Wema Bank’s SME Business School will equip SMEs with the basic management knowledge required to effectively run their businesses and respond to challenges in a demanding business environment. According to the Retail Divisional Head, Dotun Ifebogun, the school curriculum is designed to close the knowledge gap that plagues most SMEs in the country, leading to poor business structure and management.

He disclosed that the bank has support from the Frankfurt School of Finance and Management, Germany, for the school, with top-notch consultants from within and outside Nigeria as facilitators. Commenting on the school’s operations, Ifebogun said, “it is a free program that will hold twice a year across different regions in the country, starting with Lagos, with online and in-class sessions. The in-class session will run for five days, and we aim to educate and support 3,000 SMEs in the next two years.”  Ifebogun further noted that the initiative would be a boon to SMEs seeking to scale and consolidate their market positions. “As an SME-friendly bank, we understand that starting and running a business in Nigeria is no small feat, and there are lots of challenges that SMEs face. We have launched the SME Business School to equip them with relevant and practical knowledge to guide them in the effective running of their business and to surmount any challenge they encounter.

“We realized we can tackle problems such as access to finance, market access, dealing with tech disruptions and multiple taxations. We decided to drive this with the Business School. The idea is to provide advisory services and equip them with fresh ideas and insights to take their business to another level.” The Business School further cements Wema Banks’ commitment to upscaling SMEs and making life and lifestyles easier.