Business

Bank restates commitment to SMEs, agric sector

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s the global economy continues to reel from the impact of the coronavirus pandemic, Ecobank Nigeria has restated its commitment to supporting and sustaining the development of the country’s Small and Medium Enterprises (SMEs) in agriculture and all other sectors.

 

The Head, SME, Ecobank Nigeria, Emeka Agada, stated this at the lender’s Webinar held recently in Lagos.

In his presentation titled, “Harnessing CBN and other funding opportunities for small and medium enterprises in the emerging economic climate,” Agada stated that the bank would continue to harness and explore the various CBN intervention schemes and other funding and trade opportunities provided by Ecobank Nigeria for small businesses.

 

He also said that Ecobank had made available solutions that enhance trade through provision of working capital and digital platforms for payments and collections.

 

According to him, Ecobank recognises that one of the ways of creating jobs, reducing poverty and achieving economic growth and development is by the timely extension of credit to businesses, stressing that the bank is a big player in financial intermediation in that sub sector.

 

“Ecobank is a major player in the SME space. We have won several awards in this regard; which is why Ecobank is commonly referred to as the SME friendly bank. We will continue to partner with CBN and other funding partners to play the important role of promoting economic growth and development through the process of financial intermediation in the sub sector under any circumstance,” he said.

 

In her presentation titled, “Harnessing CBN and other Ecobank funding opportunities for Agric business in the emerging economic climate,” Head, AgriBusiness, Ecobank Nigeria, Moji Oguntoyinbo,  said Ecobank was sustaining its commitment to the agriculture sector in partnership with NIRSAL and some other developmental institutions in the next two to three years.

 

According to her, Ecobank is a partner with the CBN in all its intervention schemes and programs which are focused on the development of the agricultural sector.

 

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