Wema Bank has given out business grants worth N3 million to three small businesses during the 2025 Lagos Leather Fair, showing its strong support for Micro, Small and Medium Enterprises (MSMEs) in Nigeria. Each of the winners received N1 million after emerging victorious in a business pitch competition held at the event, which is one of the biggest gatherings for leather producers in West Africa.
The lucky winners are EwaOluwa Morenikeji of House of Ewa Limited, Joy Fache James of Paciencia, and Fatima Yusuf of House of Zibima. These three entrepreneurs stood out with their innovative ideas and strong business potential, earning recognition and financial support from Wema Bank.
The bank’s intervention was part of activities to mark World MSME Day. According to Wema Bank, the grants are meant to help the businesses grow and remain competitive, especially in a tough economic environment where many small business owners struggle with access to finance.
Speaking at the event, Morenikeji, who runs a modern bag-making company, expressed her gratitude. “I’m deeply grateful for this opportunity to put my business out there and get the support I need to scale. This will help my business grow. I intend to use the money to expand operations, buy new machinery, and improve the quality of our production. I thank Wema Bank for thinking of small businesses like mine and supporting us,” she said.
Joy James and Fatima Yusuf also shared similar sentiments, noting how the grant would provide a boost for production, marketing, and overall business growth. For them, the grant is not just money—it is motivation and validation of their hard work.
Managing Director and Chief Executive Officer of Wema Bank, Moruf Oseni, reaffirmed the bank’s long-standing commitment to supporting small businesses across Nigeria. He said MSMEs form the backbone of Nigeria’s economy, and empowering them will lead to wider economic benefits.
“MSMEs present a two-fold opportunity for us at Wema Bank. Empowering them helps to drive Nigeria’s economic growth and at the same time brings our impact closer to people at the grassroots. For 80 years, we have supported lives and businesses, and we will continue to do so. Our goal is to help MSMEs thrive, innovate, and shape the future of Africa’s business landscape,” Oseni said.
The Lagos Leather Fair, where the grants were announced, is considered the largest event of its kind in West Africa. It brings together designers, manufacturers, suppliers, artisans, and investors from across Africa and beyond. The fair provides a platform for showcasing African creativity, craftsmanship, and the potential of the continent’s leather industry.
This year’s edition once again demonstrated the importance of collaborations between financial institutions and the private sector in promoting entrepreneurship and innovation. By sponsoring the pitch competition and providing grant funding, Wema Bank has positioned itself as a major supporter of small business development in Nigeria.
The bank’s intervention also aligns with national and global goals to promote sustainable development, economic inclusion, and job creation through MSMEs. With access to funding, tools, and mentorship, small businesses like House of Ewa, Paciencia, and House of Zibima now have a better chance to scale up their operations and create employment.
Over the years, Wema Bank has rolled out several initiatives to support entrepreneurs. Through its MSME-focused programmes and financing schemes, the bank continues to provide capacity-building opportunities and financial access to thousands of small business owners in various sectors, including fashion, agriculture, health, and tech.
This latest move, coming at a major event like the Lagos Leather Fair, not only strengthens the bank’s position as a partner for growth but also draws attention to the potential of Nigeria’s leather industry, which experts say remains largely untapped.
As the country continues to battle inflation, currency pressure, and rising costs of doing business, such efforts from the private sector are seen as vital for helping young businesses survive and grow. Stakeholders at the Lagos Leather Fair commended Wema Bank’s gesture, urging other financial institutions to take similar steps in supporting local content development.
