By Ayomide Otitoju
Tier-one lender Fidelity Bank Plc has commenced the disbursement of the Federal Government’s MSME Intervention Fund, administered by the Bank of Industry (BOI), with a strategic focus on empowering women-owned businesses across Nigeria.
The fund, designed to provide accessible financing to micro, small, and medium enterprises (MSMEs) in all 36 states, underscores the government’s drive to strengthen entrepreneurship and job creation. Fidelity Bank’s role in this phase highlights its commitment to inclusive economic growth and the catalytic impact of women-led enterprises.
“As a bank deeply committed to SME growth, we are proud to partner with the Federal Government and the BOI on this critical intervention. For this phase, we are placing women at the forefront because we recognize their resilience, innovation, and pivotal contributions to wealth creation and employment generation,” said Osita Ede, Divisional Head, Product Development at Fidelity Bank Plc.
The bank has deployed its nationwide branch network, digital platforms, and dedicated relationship managers to ensure seamless onboarding and disbursement. This move builds on its reputation as a leading supporter of Nigeria’s SME sector.
Earlier this year, the bank launched the Fidelity SME Empowerment Programme (FSEP) at its Gbagada SME Hub in Lagos, equipping 100 growth-ready businesses with ERP-enabled POS systems, bookkeeping and branding training, and six months of post-installation support at no cost. In May, Fidelity also signed a memorandum of understanding with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to provide low-interest financing, capacity-building support, and market access for SMEs.
“Our vision goes beyond financing. We are building an ecosystem of support for SMEs through capacity building, mentorship, and market linkages. Women entrepreneurs, in particular, will benefit from a larger share of this fund as part of our broader gender-inclusion strategy,” Ede added.
Fidelity Bank serves over 9.1 million customers through 255 business offices in Nigeria and its UK subsidiary, FidBank UK Limited. It has earned multiple local and international awards, including Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and Export Financing Bank of the Year by BusinessDay Banks and Financial Institutions (BAFI) Awards.
