Home Business & Economy LCCI commends Fidelity Bank’s impact on MSMEs

LCCI commends Fidelity Bank’s impact on MSMEs

LCCI commends Fidelity Bank’s impact on MSMEs

The Lagos Chamber of Commerce and Industry (LCCI) Wednesday commended the contributions of Fidelity Bank Plc towards the growth of the nation’s Micro, Small and Medium Enterprises (MSMEs).

In his remarks at Fidelity Bank’s Day at the ongoing 33rd 2019 Lagos International Trade Fair, LCCI President, Mr Babatunde Ruwase said it has been established that the Nigerian economy was loaded with opportunities for growth and development with MSMEs as the catalyst.

“The National Survey of MSMEs 2017 reports put the total number of MSMEs in Nigeria at 41,543, 028.

“With MSMEs globally recognised as engines of socioeconomic transformation in both developing and developed countries, it is clear that connecting these MSMEs can unleash the potential of the economy to create value, drive jobs and stimulate wealth creation whilst redistributing income,” he said.

Speaking further, he noted that the fair is an opportunity for the MSMEs to showcase their products and services to the world with the support of Fidelity Bank and other financial institutions to move to the next level.

According to him, the 2019 edition had attracted numerous local and international companies from China, Japan, Ghana, India, European Union, Indonesia, Taiwan, Bangladesh, India, Cameroun, Benin Republic and Ethiopia.

Managing Director and Chief Executive Officer of Fidelity Bank, Mr Nnamdi Okonkwo said the fair had continued to provide an avenue for various trade groups and professionals to tap into the myriads of business opportunities that exist.

Okonkwo who was represented by the bank’s Executive Director, Corporate Banking, Mr Obaro Odeghe said the bank had continued to thrive in spite of the harsh business environment.

He said, “Fidelity Bank’s success story is anchored on improved service quality, innovative products and services tailored to meet the varying needs of our numerous customers which is beyond generic financial intermediation.

“Our efforts aimed at aiding the diversification of the country’s monolithic economy has been celebrated world over.

“Interestingly, we have continued to channel significant human and financial resources into the real sector, particularly in the area of can manufacturing, food and beverages and Independent Power Projects,” he said.

The bank at the event presented N500, 000 to five customers and N150, 000 to another five customers under the bank’s loyalty reward scheme.

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