Fidelity Bank Advances SME Growth Agenda with Abuja Forum
Fidelity Bank Plc has reaffirmed its commitment to supporting Nigeria’s small and medium-sized enterprises (SMEs), citing access to affordable finance, business advice and capacity-building as key to helping businesses grow.
The bank restated its commitment at the Abuja edition of its quarterly SME Business Forum, themed “Built to Compete: Positioning Abuja Businesses for Sustainable Growth”. Entrepreneurs, industry stakeholders and regulatory representatives attended the event to discuss business competitiveness and growth.
Sufiyanu Garba, Executive Director, North Directorate at Fidelity Bank, said the bank supports entrepreneurs with financing, knowledge, connections and business solutions. He also urged business owners to strengthen their financial management, business structures and use of technology.
“A business may record strong sales and still struggle with cash flow. Sustainable growth requires business owners to understand what drives profitability, manage costs and working capital effectively, keep reliable records and use technology to make better decisions. These are the disciplines that position businesses to access finance, pursue larger opportunities and compete successfully,” he said.
Garba said the bank’s financing options include working capital, overdrafts, term lending, asset and equipment finance, trade finance and structured lending, tailored to businesses’ funding needs and operating cycles.
He added that Fidelity Bank is working with on-lending institutions to help businesses access intervention funds at interest rates ranging from 10 to 16 per cent, depending on the scheme.
“Access to affordable finance remains critical to SME growth. At Fidelity Bank, we are working with intervention funding partners to provide eligible businesses with financing at significantly reduced interest rates. Our goal is to ensure that promising businesses have the financial support they need to grow sustainably,” He said.
The initiative is intended to ease financing pressures, particularly for women-owned businesses, youth-led enterprises and businesses operating in green sectors, Garba said.
The forum also gave entrepreneurs the opportunity to raise questions with regulatory stakeholders on taxation, customs procedures, importation, exportation and other business issues.
Okwuchukwu Okolo, Secretary of the Iron Dealers Association, Mararaba, said the forum enabled business owners to engage directly with the bank and relevant regulatory agencies.
“The Fidelity Bank SME Business Forum provided useful clarification on multiple taxation and customs procedures. It is encouraging to have a platform where business owners can raise concerns, receive practical guidance and better understand their regulatory obligations,” Okolo said.
Folake Olufemi, Chief Executive Officer of Abuja-based Febesth Global Resources Limited, also commended the bank for creating opportunities for knowledge-sharing and networking.
“I gained valuable insights into importation procedures and the appropriate channels for resolving customs-related complaints. The forum also created opportunities to network and engage directly with the bank on challenges affecting our businesses,” she said.
Fidelity Bank said the forum is part of its broader effort to equip Nigerian entrepreneurs with financing, knowledge, market access and strategic connections. Previous editions have been held in Lagos, Kano and Port Harcourt.
Fidelity Bank Plc is a commercial deposit money bank serving more than 10 million customers through digital channels, 255 business offices in Nigeria and its United Kingdom subsidiary, FidBank UK Limited.
The bank lists among its recent recognitions the 2025 Development Bank of Nigeria Innovation Award for MSME support; Best Retail and SME Bank from Independent Newspapers; Best Bank for Export & Trade Finance and Most Innovative Bank of the Year at the 2025 BusinessDay Banks and Financial Institutions (BAFI) Awards; and Nigeria’s Best Private Bank at the 2025 Euromoney Awards. Other awards include Nairametrics’ inaugural Most Improved Commercial Bank of the Year, NewsDirect’s SME Bank of the Year, Citi Group’s Straight-Through Processing (STP) Excellence Award and Global Brands Magazine’s recognition for Excellence in Community Empowerment.
