By Aduragbemi Omiyale
To drive business growth in the country, Stanbic IBTC Bank Plc will be in different markets across the states of the federation to advertise its financial solutions to owners of small and medium enterprises (SMEs).
The lender, a Stanbic IBTC Holdings Plc subsidiary, intends to inform entrepreneurs of the various products they can key into, including its flexible loans.
The campaign will kick off in Ibadan, Oyo State. It will continue to four major states across the nation, including Rivers, Abuja and Anambra in the following markets – Agbeni market, Gbagi market, Oyigbo market, Mile Three market, Rumomasi market, Utako market, Kubwa market, Relief market and Head Bridge market.
This is part of the bank’s initiative to support the growth and success of SMEs, which account for 86.30 per cent of the national workforce, according to the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and contribute an average of about 50 per cent to Nigeria’s annual Gross Domestic Product (GDP).
“We are delighted to visit indigenous markets in Nigeria before our annual training programme. The training has been instrumental in improving the livelihoods of small business owners and building their skills.
“We are proud to contribute to the development of small enterprises across Nigeria to accelerate their business growth and, especially, create a level playing field where women can thrive and make significant contributions through the Stanbic IBTC Blue Blossom Initiative,” the chief executive of Stanbic IBTC Bank, Mr Wole Adeniyi, said.
With the Nigerian market undergoing rapid changes and facing various challenges, market traders have been confronted with the need to adapt and re-position for success.
To achieve this, businesses are required to comply with regulatory documentation requirements and fulfil tax obligations.
Stanbic IBTC recognises the importance of compliance and understands that having a Tax Identification Number (TIN) is a key requirement for businesses to access loans, therefore, Stanbic IBTC Bank will be facilitating the generation of Joint Tax Board (JTB) Tax Identification Number (TIN) at these market storms.
Over the years, Stanbic IBTC has empowered over 10,000 SMEs with quality business advisory and capacity-building programmes aimed at equipping them with the required knowledge and skills to grow their businesses.
