SMEs bedrock of devt, UBA’s committed to its growth – DMD

United Bank for Africa Plc has said it is committed to the growth of Small and Medium Enterprises across Africa.

It added that such was why it increased funding to such businesses in Nigeria and across Africa.

The Deputy Managing Director, Muyiwa Akinyemi, said this while delivering his keynote address at the inauguration of the 2022 Lagos International Trade Fair.

UBA has been the lead sponsorship partner for the annual event since 2019.

Speaking on the theme, ‘Connecting Businesses, Creating Value’, Akinyemi explained that armed with the firm belief that SMEs remained the bedrock of any country’s economic development, UBA pioneered products and services specifically targeted at SMEs and young entrepreneurs towards meeting their financial needs, having access to markets and building capacity.

“We are focused on creating value, connecting and facilitating business across Africa and between Africa with the rest of the world. Already, we have done a trade of about $7.7bn and Export trade of about $29.4bn as of August 2022.

“It will also interest you all to know that we match our words with action as we have supported hundreds of SMEs in Africa, especially in countries where we have presence. UBA does this not only in the manufacturing and services sectors but also in the creative industry and Fintech,” the DMD continued.

Akinyemi who was speaking in the presence of dignitaries including the governor of Lagos, Mr. Babajide Sanwo-Olu; Minister of Industry, Trade and Investment, Otunba Niyi Adebayo; and past president, LCCI, Dr Nike Akande, explained that UBA Group prioritised capacity building and valuable financial advisory services for SMEs hence the reason for its regular quarterly webinar sessions and trainings.

Earlier, Lagos State governor appreciated UBA’s efforts and support to SMEs.

Sanwo-Olu seized the opportunity to restate his administration’s commitment to prioritising the growth and development of Micro, Small and Medium Enterprises (MSMEs) to further drive the economic growth and development of the state.

The president, LCCI, Dr. Michael Olawale-Cole, expressed satisfaction on the level of SMEs’ participations in this year’s fair as he commended UBA for its commitment to the growth of SMEs.

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