Thursday, July 04, 2019

Fidelity Bank unveils SME Funding Connect - ITREALMS

Fidelity Bank Plc has unveiled a funders meet founders programme tagged 'Entrepreneurship meet capital' to be held in some locations across the country, reports ITREALMS.

Disclosing this Wednesday in Lagos, the Executive Director, Lagos and South West, Mrs Nneka Onyeali-Ikpe, said this is affirmation that Fidelity bank is a friendly bank to SMEs.

She said that currently Nigeria has over forty SMEs registered with SMEDAN, noting that  poor capacity has been the bane of their growth, along side multiple taxation, and lack of adequate infrastructure like electricity to name a few.

She pointed out that venture capital and angel funders are the best options to navigate some of these challenges of SMEs and noted excitedly that Fidelity Bank was able to bring these two together under this SME Funding Connect.

"Today, we are bringing both SMEs and venture capital firms for a handshake at this event," she said.

Also she said the train for the Fidelity Bank SME Funding connect will take off in Lagos and stop over in Abuja, Kano and Port Harcourt commencing on August 7, this year.

Revealing that some 3000 participants have registered for this event, even as Fidelity Bank had done some capacity building for SMEs on export and now joining forces with funders for a one day programme.

Equally speaking, the Divisional Head, Managed SMEs, Mr Osaigbovo Omorogbe, said this Fidelity Bank SME Funding Connect would provide both funders and founders a seamless ground to leverage and that top five SMEs will be selected after a pitch.

Winners, he said would go home with N5 million to support their businesses.

In addition, he said there would be a plenary session and breakout session plus networking events.

He explained that it's a pre-registered event focusing on manufacturing, technology, lifestyle, healthcare, agriculture and value chain.

"This will be the first of its class, a platform for SMEs to connect with funders," he said, stressing that the process of selection and awards of funds will be managed via auditing by PriceWaterhouse Coopers (PwC).

In his remarks, chief Economist at PwC, Dr. Andrew Nevin commended Fidelity Bank for this noble step and assured that PwC will do its best based on professional best practices to ensure transparency in the process.

Remmy Nweke/DoP

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L-R: Divisional Head, Brand and Communications, Fidelity Bank Plc, Charles Aigbe; Divisional Head, Managed SMEs, Fidelity Bank Plc., Osaigbovo Omorogbe;  Executive Director, Lagos and South West, Fidelity Bank Plc,  Nneka Onyeali-Ikpe; Advisory Partner & Chief Economist, PricewaterhouseCoopers (PWC), Dr Andrew Nevin; Senior Manager, Advisory – Deals, PricewaterhouseCoopers (PWC), at a press conference in Lagos to unveil the forthcoming  Fidelity SME Funding Connect – Lagos themed: Entrepreneurship meets Capital…..Wednesday. 

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