Fidelity Bank Plc has entered into a strategic partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to support the growth of Micro, Small, and Medium Enterprises (MSMEs) in Nigeria and across Africa. The agreement will help MSMEs gain better access to finance, training, and market opportunities.
The partnership was officially sealed with the signing of a Memorandum of Understanding (MoU) at Fidelity Bank’s corporate head office in Lagos. The deal will allow Fidelity Bank to provide low-interest loans to MSMEs that are referred by SMEDAN, helping to remove one of the biggest challenges many small businesses face—access to affordable finance.
Dr. Nneka Onyeali-Ikpe, Managing Director and Chief Executive Officer of Fidelity Bank Plc, was represented by Dr. Ken Opara, the bank’s Executive Director for Lagos and Southwest Businesses, at the event. He said the collaboration shows Fidelity Bank’s deep commitment to the MSME sector in Nigeria. For over 20 years, the bank has provided innovative financial products and services to help small businesses grow.
“This partnership is more than just signing an agreement. It is a renewed commitment to supporting MSMEs because they play a key role in economic growth, job creation, and national development,” Dr. Onyeali-Ikpe said.
She explained that both organisations will work together to design and carry out strategies that will make MSMEs stronger. These include offering affordable loans to businesses referred by SMEDAN and providing support in areas like business development, capacity building, and expanding access to local and international markets.
“Our goal is to support small businesses by giving them the tools they need to grow—whether it’s money, skills, or market connections. We also plan to run financial literacy programmes and initiatives that reward outstanding MSMEs,” she added.
On his part, the Director General of SMEDAN, Mr. Charles Odii, welcomed the partnership and said it would help develop MSMEs into successful enterprises, including those looking to expand across African markets. He described Fidelity Bank as a strong ally in the mission to revive entrepreneurship in Nigeria.
Mr. Odii said, “This collaboration is focused on helping small businesses grow, not just within Nigeria but also across Africa. We want to commend Fidelity Bank for its steady commitment to MSME development and for joining hands with SMEDAN to move this crucial sector forward.”
He noted that the partnership aims to encourage entrepreneurship, create jobs, and boost national productivity. According to him, small businesses are the backbone of the Nigerian economy, and giving them access to the right support will help unlock their full potential.
The partnership is also in line with broader efforts to promote regional trade and economic integration under initiatives like the African Continental Free Trade Area (AfCFTA), which offers MSMEs the opportunity to reach larger markets beyond Nigeria.
Fidelity Bank has been recognised in recent years for its support to the MSME space, offering products such as the Fidelity SME Business Loans and organising capacity-building initiatives like the Fidelity SME Forum, an educational platform that helps entrepreneurs learn from industry leaders.
With this partnership, thousands of small business owners across Nigeria are expected to benefit from improved access to capital and training, which can help them grow their businesses, hire more staff, and contribute more to the economy.
