Heritage Bank Supports MSMEs

Heritage Bank Plc has once more reassured promoters of micro, small and medium scale enterprises (MSMEs) of its support, to enable them grow their businesses into generational conglomerates.

The MD/CEO of the Bank, Mr. Ifie Sekibo disclosed this in a statement signed by the Divisional Head, Corporate Communications of the bank, Mr. Fela Ibidapo.

According to Sekibo, Heritage Bank remains poised to collaborate with operators of MSMEs to grow them into generational conglomerates.
He stated that it was the desire of the bank for Nigerian businesses to be listed on the stock exchange and eventually become global brands and household names.

Sekibo, noted that surviving in the face of all odds as a business in Nigeria with the present economic situation would not be an easy feat, adding that tenacity remains key characteristic of a sustainable business.
According to him, notable businesses such as Quaker Oats and KFC went through trying times, overcame them, and are now global brands.

“We believe that businesses like yours are the backbone of the economy because you create jobs and play a huge role in moving our country out of this present recession. I encourage you to rise up to this challenge facing every Nigerian entrepreneur and make our economy vibrant again,” Sekibo said.

Also, he said Heritage Bank would support operators in the MSMEs sector to broker new deals and partnerships, adding that a contact today could lead to a business opportunity tomorrow.

He said the bank would create a platform to propel a network of fast growing businesses and urged them to seize the opportunity, network with others as well as engage the bank’s SME consultants in their bid to build and develop sustainable businesses.

Heritage Bank in recognition of its commitment to SMEs and youth development, had been adopted by the Central Bank of Nigeria (CBN) as the sole pilot bank for the Youth Innovative Entrepreneurship Development Programme (YIEDP).

The programme is aimed at harnessing the latent entrepreneurial spirit among the teeming youths by providing timely and affordable loans to implement their business ideas.

The major objective of the scheme is to provide a sustainable mechanism to stimulate employment, contribute to the non-oil Gross Domestic Product (GDP) as well as address the challenge of youth restiveness in the country.

In addition, Heritage Bank has continued to support The Next Titan, a capacity development entrepreneurial scheme that has operated in the past four years and contributed to employment generation in Nigeria.

The scheme is opened to serving youth corps members and non-NYSC members (not more than five years post NYSC) within the age bracket of 18 to 35.