Wema Bank has launched a groundbreaking initiative to support 800,000 micro, small, and medium enterprises (MSMEs) in Nigeria, reinforcing its position as the nation’s leading SME bank.
This ambitious program follows a Memorandum of Understanding (MoU) signed with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) on February 25, 2025, in Lagos.
Boosting MSME Growth Through Training and Resources
Established in 2003, SMEDAN is dedicated to fostering the growth of MSMEs in Nigeria. Through this partnership, Wema Bank will equip selected businesses with essential soft skills, technical expertise, and business training to enhance profitability, boost visibility, and ensure long-term sustainability. The program, spanning 12 to 18 months, will provide vital resources to entrepreneurs nationwide.
Wema Bank’s CEO Reaffirms Commitment to Nigerian Entrepreneurs
Moruf Oseni, Managing Director and CEO of Wema Bank, highlighted the bank’s unwavering support for SMEs, tracing its dedication back to its founding in 1945.
“At Wema Bank, we are deeply committed to the success of Nigerian businesses. For over 80 years, we have provided financial solutions tailored to the local economy, filling a critical gap in access to finance,” Oseni stated.
He emphasized that Wema Bank’s focus on empowering small businesses remains steadfast:
“The same petty traders we supported decades ago have grown into the MSMEs we continue to uplift today. We remain dedicated to this mission.”
SMEDAN Lauds Wema Bank’s Impact on MSMEs
Charles Odili, Director General of SMEDAN, commended Wema Bank for its pivotal role in nurturing Nigeria’s MSME sector.
“This partnership exemplifies how collaboration can drive real change. Wema Bank’s consistent support for small businesses proves their genuine commitment to Nigeria’s entrepreneurial ecosystem.”
Strengthening Nigeria’s SME Landscape
With a strong reputation as Nigeria’s go-to SME bank, Wema Bank continues to provide businesses with access to finance, market opportunities, mentorship, and tailored training. Through this strategic collaboration with SMEDAN, the bank is set to revolutionize Nigeria’s MSME landscape, empowering entrepreneurs and fostering sustainable business growth nationwide.