Wema Bank partners with SMEDAN to empower 800,000 Nigerian MSMEs through tailored training, business support, and sustainable growth

[dropcap]W[/dropcap]ema Bank, Nigeria’s foremost innovative bank and the pioneer of Africa’s first fully digital bank, ALAT, has reinforced its commitment to empowering small and medium enterprises (SMEs) through a groundbreaking partnership with the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN).

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The partnership, formalised with a Memorandum of Understanding (MoU) signed on 25th February 2025 in Lagos, aims to empower 800,000 Nigerian businesses over the next 12 to 18 months.

SMEDAN, established in 2003, plays a key role in developing Nigeria’s Micro, Small and Medium Enterprises (MSME) sector.

Through this collaboration, Wema Bank will provide training in soft skills, technical expertise, and business development, equipping entrepreneurs with the tools to build profitable, scalable, and sustainable businesses. SMEDAN will curate the 800,000 businesses set to benefit from this initiative.

Speaking on the partnership, Wema Bank’s Managing Director and CEO, Moruf Oseni, reaffirmed the bank’s long-standing commitment to empowering Nigerians and driving business growth.

*”At Wema Bank, we don’t pay lip service to SME matters. From our inception in 1945, we identified gaps in access to finance for the indigenous people of Nigeria and built this bank to bridge those gaps.

Over the past eight decades, we have continually evolved to support entrepreneurs and small businesses, providing tailored financial services and ensuring their growth remains a priority,”* Oseni stated.

He further highlighted the bank’s consistent dedication to the MSME sector, noting that the petty traders Wema Bank supported in the early years have evolved into the thriving businesses the bank continues to empower today.

The Director General of SMEDAN, Charles Odili, commended Wema Bank for its proactive and unwavering support for MSMEs.

He expressed confidence in the partnership’s potential to foster sustainable growth for Nigerian businesses.

*”This collaboration is a prime example of how determination and strategic partnerships can drive impactful change.

We thank Wema Bank for their consistent support and commitment to MSME empowerment in Nigeria,”* Odili said.

Wema Bank has earned its reputation as Nigeria’s SME Bank by going beyond financial support to provide visibility, market access, mentorship, and tailored training for businesses.

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This partnership with SMEDAN further cements Wema Bank’s role in advancing the MSME industry, building stronger Nigerian businesses, and empowering the nation’s entrepreneurs.