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Ecobank Provides N100bn Funding Package for MSMEs

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By Aduragbemi Omiyale

The sum of N100 billion has been set aside by Ecobank Nigeria to fund Micro, Small and Medium Enterprises (MSMEs) in the country.

The Managing Director of the bank, Mr Patrick Akinwuntan, confirmed this when he spoke at the Ecobank/Vanguard virtual summit for MSMEs in Nigeria.

He explained that the N100 billion funding package for MSMEs will enable small business owners to contribute more meaningfully to the growth of the nation’s economy.

Mr Akinwuntan reiterated that apart from closing the funding gap, the lender will upskill and avail them of its state-of-the-art digital platforms to promote their products.

The virtual summit with the theme Unlocking Credit Growth in a Changing MSME Lending Landscape is to promote and encourage lending to small businesses in the face of changing operating environment in the country.

“We can see clearly that in terms of moving the majority of Nigerians from the realm of poverty to financial inclusion and wealth creation, it is important that we pay attention and explore the potentials of MSMEs.

“Given the focus of Ecobank to contribute positively to the financial integration and economic advancement of Africa, it is critical that we focus on this segment and ensure it is given the empowerment to play its rightful role in the development of our economy,” he said.

Mr Akinwuntan pointed out that feedback from a survey embarked upon by the bank indicated that the MSMEs were basically faced with several constraints including access to market, inadequate skill set, infrastructure deficits and inability to track cash flow among others. He noted that the bank had put measures in place to address the challenges.

“Given this market feedback, we have aligned at Ecobank to provide the MSMEs with some capacity-building support. This is about up-skilling their competencies to fulfil the potentials.

“We are doing this in partnership with the African Union through the AUDA-NEPAD academy. This is a digital academy where MSMEs are able to access skills in inventory management, accounting record, market analysis, market penetration and access to finance.

“Secondly, we are actively involved in conjunction with the Central Bank of Nigeria (CBN) to open up easier access to funding, be it in the agriculture segment, through the agric loan; the creative industry for various talents in our economy and the healthcare industry amongst others. In each of these areas, Ecobank has been playing a leading role.

“In terms of access to market, we do have an e-commerce club for the MSMEs, we also have the Emerald Business Club, Google my business e–solution that enables MSMEs to build a simple website and be able to promote their products particular across Africa,” the banker further said.

He disclosed that, “There are opportunities for MSMEs to promote their products through digital platforms including the capability to receive payments from nearly all other foreign currencies into their naira accounts seamlessly using our NQR based Ecobank pay collections platform. This is one of the key advantages we have in Ecobank Nigeria.

“We also have agency banking services currently at about 26000 locations across the country. We have our digital banking solutions called Omnilite, we also have *326# USSD code for transactions, mobile app and lots more to support the small businesses.”

In her goodwill message, the Minister of State for Industry, Trade & Investment, Ms Mariam Yelwaji Katagum, commended Ecobank Nigeria for complementing the efforts of the federal government at developing the MSME segment of the economy.

She urged the financial sector as a whole to continue to provide the much-needed support for federal government initiatives by facilitating and granting accessible financing for small businesses at a single digit.

“There is no doubt that MSMEs are regarded as the driving force behind structural changes and sustainable growth and development particularly with their contributions to job and wealth creation.

“These enterprises play a big role in the economy and are crucial drivers for innovation and competition in many sectors of the economy.

“As you are all well aware, the federal government has over time provided a platform to improve access to finance for the MSMEs in order to boost production, increase the value of trade, enhance the investment climate, and foster innovation and entrepreneurship,” she stated.

Also speaking, Special Adviser to the President on Ease of Doing Business, Ms Jumoke Oduwole, opined that access to finance for small businesses has become more imperative against the backdrop of the ravaging effects of the COVID-19 pandemic.

While commending Ecobank’s various initiatives at supporting the growth of MSMEs, she urged the financial sector to complement the efforts of the federal government’s N2.3 trillion economic sustainability plan.

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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Banking

Access Bank, King’s Trust International Partner on Africa’s Sustainable Growth

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By Modupe Gbadeyanka

A partnership to expand opportunity, entrepreneurship, and sustainable livelihoods for young people across Africa has been signed by Access Bank and King’s Trust International (KTI).

The cooperation marks a significant milestone in advancing cross‑sector collaboration to address youth unemployment, foster entrepreneurship, and drive inclusive growth across Africa.

Under the agreement, Access Bank will support the delivery of KTI’s programmes that empower young people across several African countries, supporting them to gain skills and find pathways into meaningful employment and self-employment across Africa.

It was learned that the collaboration brings together KTI’s expertise in youth development with Access Bank’s pan‑African reach and long‑standing commitment to inclusive and sustainable growth.

Through this alliance, the two organisations will work to equip young people with the skills, confidence and support needed to build successful futures through employment and entrepreneurship.

“At Access Bank, we believe that empowering young people is fundamental to Africa’s sustainable growth. Our partnership with King’s Trust International reinforces our commitment to entrepreneurship, job creation and inclusive development, while enabling us to play a purposeful role in shaping the continent’s future,” the chief executive of Access Bank, Mr Roosevelt Ogbonna, stated.

The chief executive of KTI, Mr Will Straw, while also commenting, said, “This partnership with Access Bank reflects a shared commitment to unlocking the potential of young people across Africa. By combining our experience in youth development with Access Bank’s scale and leadership across the continent, we can create meaningful pathways to opportunity and long‑term impact.”

The signing ceremony was witnessed by senior leaders and representatives from both organisations, alongside distinguished guests, including Mr Aigboje Aig‑Imoukhuede, who is the co-Chair of KTI Africa Advisory Board and Chairman of Access Holdings Plc.

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Zenith Bank Appoints Kennedy Onuwa Okwudili to Board

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By Aduragbemi Omiyale

Mr Kennedy Onuwa Okwudili has been appointed to the board of Zenith Bank Plc as an executive director with effect from May 1, 2026.

A statement signed by the company secretary, Mr Michael Otu, disclosed that the appointment aligns with the financial institution’s “tradition and succession strategy of grooming leaders from within” to strengthen its executive management further.

He is joining the board with over 25 years of cognate banking experience spanning credit and marketing, treasury, compliance, as well as operations and has at different times worked in various zones and departments of the lender.

Mr Okwudili graduated with a Bachelor of Science (Honours) in Accounting from the University of Maiduguri, Nigeria, in 1998, with a Second Class Upper Division. He obtained a Master’s of Business Administration (MBA) from Ahmadu Bello University, Zaria, Nigeria, in 2008 and a Master’s of Science in Accounting from Veritas University, Abuja, Nigeria, in 2021.

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), 2013, and also a Fellow of the Chartered Institute of Bankers of Nigeria, 2024. He is an Associate of the Chartered Institute of Taxation of Nigeria (CITN), 2016.

The banker has attended several executive education programmes both within and outside the country, including Senior Leadership Development Programme at the Lagos Business School, Corporate Directorship Programme at the Harvard Business School and Oxford Advanced Management and Leadership Programme at the University of Oxford, SAID Business School.

He is currently the President of Catholic Bankers Association of Nigeria (CBAN) and a member of the Noble Order of the Knights of St. John International (KSJI).

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Fidelity Bank Plans Webinar on Fiscal Solutions for Public Sector

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By Aduragbemi Omiyale

A high-level virtual webinar focused on helping public institutions to strengthen revenue systems, improve fiscal transparency, and build smarter digital structures for collections, oversight, and accountability is being planned by Fidelity Bank Plc.

This event is slated for Tuesday, March 24, 2026, under the theme Digital Fiscal Transparency: Unlocking Sub-national Opportunities for International Partners.

The programme will bring together a cross-section of public sector leaders, development institutions, heads of parastatals and agencies, as well as financial experts, to explore practical solutions for stronger public finance management.

It is expected to offer timely insights into how modern revenue infrastructure can help institutions improve efficiency, drive accountability, and support better fiscal outcomes.

The webinar will address key issues facing many public institutions today, including revenue leakages, fragmented collection channels, weak visibility into revenue performance, poor reconciliation processes, and the growing need for more transparent and technology-driven systems.

“As public institutions seek ways to improve internally generated revenue and strengthen public trust, there has been a renewed focus on fiscal transparency.

“This is particularly important in the face of recent macro and micro economic developments with many public sector agencies under pressure to do more with limited resources,” the Divisional Head of Public Sector at Fidelity Bank, Mr Richard Madiebo, said.

“It is against this background that we have conceptualised this session with a particular focus on how digital platforms can support structured invoicing, seamless collections, payment automation, contractor disbursement transparency, real-time revenue oversight, amongst other pertinent areas of revenue mobilisation and administration in Nigeria,” he added.

“The webinar forms part of our commitment to provide practical solutions that support public sector transformation and stronger sub-national development. This is in line with Fidelity Bank’s mandate to help individuals to grow, businesses to thrive, and economies to prosper,” Mr Madiebo further disclosed.

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