Wema Bank has signed a Memorandum of Understanding (MoU) with the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) to support 800,000 micro, small, and medium enterprises (MSMEs) with training and business development resources. The initiative, set to span 12 to 18 months, aims to equip entrepreneurs with soft skills, technical expertise, and business strategies to build profitable ventures, enhance visibility, and scale sustainably.
Under the partnership, Wema Bank will provide the necessary training and resources, while SMEDAN will curate the businesses that will benefit from the program. Speaking on the collaboration, Wema Bank’s Managing Director and CEO, Moruf Oseni, reaffirmed the bank’s long-standing commitment to SME empowerment, highlighting its historical role in bridging financial gaps for Nigerian entrepreneurs.
“At Wema Bank, we don’t pay lip service to SME matters. Since our inception in 1945, our goal has been to provide tailored financial services for Nigerians. Over the past eight decades, we have consistently reinvented ourselves to better support businesses, and this partnership with SMEDAN is a continuation of that mission,” Oseni stated.