By Ayomide Otitoju
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 scheme is aimed at providing accessible financing to micro, small, and medium enterprises (MSMEs) in all 36 states, aligning with Fidelity Bank’s commitment to inclusive growth and SME development.
Speaking on the initiative, Osita Ede, Divisional Head, Product Development at Fidelity Bank, said the bank was prioritizing women in the current phase because of their resilience and contributions to wealth creation and job generation.
“As a bank deeply committed to the growth of SMEs, we are proud to partner with the Federal Government and BOI on this intervention. For this phase, we are placing women at the forefront because we recognize their innovation and pivotal role in driving sustainable development,” Ede stated.
Fidelity Bank has deployed its nationwide branch network, digital platforms, and dedicated relationship managers to ensure smooth onboarding and fund disbursement.
The bank’s participation builds on its broader SME support initiatives, including the Fidelity SME Empowerment Programme (FSEP), which recently provided 100 SMEs with digital business tools, training, and six months of post-installation monitoring at no cost. Earlier this year, it also signed an MoU with SMEDAN to expand access to low-interest financing, capacity-building, and market opportunities.
“Our vision goes beyond financing. We are building an ecosystem of support for SMEs through mentorship, training, and access to markets. Women entrepreneurs, in particular, will receive a larger share of the fund as part of our gender inclusion strategy,” Ede added.
Fidelity Bank, which serves over 9.1 million customers through its 255 business offices, digital channels, and UK subsidiary, has earned multiple awards for innovation and SME support, including recognition as Nigeria’s Best Bank for SMEs by the 2024 Euromoney Awards for Excellence.
