Fidelity Bank Brings Affordable Finance, Growth Support to Abuja SMEs

Fidelity Bank Plc has reaffirmed its commitment to strengthening Nigeria’s Small and Medium-sized Enterprises (SMEs) through affordable financing, business advisory services and capacity-building initiatives.

The Bank restated the commitment at the Abuja edition of its quarterly SME Business Forum, themed “Built to Compete: Positioning Abuja Businesses for Sustainable Growth.” The forum brought together entrepreneurs, industry stakeholders and regulators to address issues affecting business competitiveness and growth.

Speaking at the event, Executive Director, North Directorate, Fidelity Bank Plc, Sufiyanu Garba, said the Bank supports entrepreneurs with financing, knowledge, connections and solutions, while urging business owners to strengthen financial discipline, 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.

He said Fidelity Bank provides financing solutions covering working capital, overdrafts, term lending, asset and equipment finance, trade finance and structured lending, tailored to businesses’ funding needs and operating cycles.

Garba disclosed that the Bank is collaborating with on-lending institutions to facilitate access to intervention funds at interest rates of 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.

He added that the initiative is designed to ease financing pressures on entrepreneurs, particularly women-owned businesses, youth-led enterprises and businesses in green sectors.

The forum also gave entrepreneurs an opportunity to engage regulators on taxation, customs procedures, importation, exportation and other issues affecting business operations.

Commending the initiative, Secretary of the Iron Dealers Association, Mararaba, Okwuchukwu Okolo, described the forum as a valuable platform for entrepreneurs to engage directly with the Bank and 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.

Similarly, Chief Executive Officer, Febesth Global Resources Limited, Abuja, Folake Olufemi, applauded Fidelity Bank for facilitating 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.

With successful editions held in Lagos, Kano, Port Harcourt and Abuja, the Fidelity SME Quarterly Business Forum forms part of the Bank’s broader commitment to equip Nigerian entrepreneurs with financing, knowledge, market access and strategic connections to build resilient and competitive businesses.