Fidelity Bank has announced the launch of its dedicated physical facility for Small and Medium-scale Enterprises (SMEs) and entrepreneurs in the creative sector. The facility, known as the Fidelity SME Hub, aims to provide business owners with resources beyond financial support.
The bank’s Managing Director/Chief Executive Officer, Dr Nneka Onyeali-Ikpe, stated, “For nearly four decades, Fidelity Bank has been at the forefront of supporting small businesses in achieving their potential and driving the nation’s economy. During this time, we have recognized that SMEs require more than just financial assistance. This realization has led to the implementation of various non-financial initiatives tailored to support this sector.”
Features of the SME hub
The Fidelity SME Hub will include training halls, meeting rooms, networking spaces, podcast rooms, and fully equipped studios for music, photography, and content production. The hub is designed to support innovation, collaboration, and capacity building among entrepreneurs.
Speaking on the initiative, Onyeali-Ikpe added, “The Fidelity SME Hub is our latest non-financial solution for SME growth. The facility is designed to foster innovation, collaboration, and capacity-building – vital elements necessary for strengthening Nigeria’s SME ecosystem and driving economic growth.”
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Located in Lagos, the hub will offer business owners networking opportunities, stakeholder engagement initiatives, and direct access to industry experts and mentors. It also features the Creativerse, a dedicated space for entrepreneurs in the creative industry to develop their skills and create content.
Training and courses
Fidelity Bank has also introduced dedicated courses to be hosted at the SME Hub. These courses will cover areas such as Financial Management and Investment Readiness, Digital Transformation and Technology Adoption, Marketing, Branding, and Business Growth Strategies.
Additionally, a creative academy will be established within the hub. Courses will include Music Production, the Business of Music, Website Design and Development, Mobile Videography, Disc Jockey, and Photography.
To access the full list of courses or to apply, interested individuals can visit their website.
Impact on SMEs and the economy
Onyeali-Ikpe further explained the economic impact of the SME Hub, stating, “Beyond empowering small businesses, the Fidelity SME Hub will also serve to bolster our non-oil exports drive as we empower SMEs to increase their contribution to Nigeria’s non-oil GDP thus supporting the government’s economic diversification drive. Through our investment in Creativerse in particular, we anticipate that content creators will unlock new revenue streams in entertainment, digital media, and arts, an industry already contributing 2.3% to GDP.”
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By equipping SMEs with business skills and creative tools, the bank aims to support Nigeria’s economic growth and improve the global competitiveness of local entrepreneurs.
Fidelity Bank’s commitment to SMEs
Fidelity Bank has a long-standing commitment to supporting SMEs through both financial and non-financial means. It provides a range of banking services to over 8.5 million customers across 255 business offices in Nigeria and the United Kingdom, as well as through digital banking channels.
The bank has received several local and international awards for its contributions to SME growth. These include the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, Best Payment Solution Provider Nigeria 2023, and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards. It was also named the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023 and the Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.
