FCMB says SMEs need infrastructure and skills, not just funding
George Ogbonnaya, Senior Vice President at FCMB, says Nigeria’s small and medium-sized enterprises (SMEs) require more than just financing to grow. He highlights the importance of infrastructure, digital transformation, and skills development for sustainable business growth. Ogbonnaya explains that FCMB supports SMEs through tailored financial solutions, capacity building, and technology-driven initiatives. The bank also invests in renewable energy to help businesses reduce costs and improve profitability.
TLDR
- George Ogbonnaya identifies infrastructure, logistics, digital access, and skills as critical challenges for Nigerian SMEs, beyond just financing.
- FCMB offers tailored financial solutions, digital tools, and capacity-building programmes to support SMEs’ unique needs.
- The bank trains over 4,500 SMEs annually in areas like financial management, digital marketing, and regulatory compliance.
- FCMB invests in renewable energy financing to help businesses manage rising energy costs and improve sustainability.
- Technology and digital transformation are central to FCMB’s strategy for helping SMEs remain competitive in a challenging economic environment.
