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| Mr. Frank Aigbogun with others. |
Leading financial institution, Union Bank of Nigeria, has reiterated their support for Small and Medium-sized Enterprises in the country to drive increased growth and development. This commitment was made during the recently held ‘Top 100 Fastest Growing SMEs in Nigeria’ conference hosted by Business Day newspaper.
The event themed
‘How SMEs can thrive in an age of volatility’ was well attended by various
stakeholders in the SME sector, including entrepreneurs, industry experts,
start-ups, and financiers. The event had different panel sessions to discuss
the multiple problems facing SMEs in Nigeria.
Speaking on the
Funding for SMEs panel, Ayokunnumi Abraham, Head, Small and Medium-sized
Enterprises (SME) Products & Segments Union Bank, said SMEs need to pay
attention to capacity building and keeping proper financial records. According
to him:
“SMEs must focus
on building capacity and developing the necessary skills to increase their
expertise if they hope to succeed in this volatile age. SMEs also need to
embrace technology and digital tools as an enabler for business growth while
ensuring their books and records are organised if they hope to attract funding
from the right financial partner.”
Business Day
newspaper presented Union Bank with The SME Financier of the Year award in
Nigeria at the awards ceremony held that same evening in recognition of the
bank’s efforts to support and promote the growth of the SME sector in the
country.
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