The Lagos State Government is partnering with Wema Bank Plc to deploy digital technology to upscale the operations of Micro Small and Medium Enterprises (MSMEs).
Mr. Tunde Mabawonku, Executive Director, Retail and Marketing at Wema Bank revealed this during a courtesy visit to the office of the Commissioner for Commerce, Cooperatives, Trade & Investment, Mrs. Folashade Ambrose-Medebem recently.
Ambrose-Medebem while expressing her delight at the coming of the bank said will assist the Ministry in achieving its objectives of driving economic growth and prosperity, promoting trade, and strengthening the MSMEs, particularly through digital technology, amongst other key priorities.
In her words, “We have outlined our key priorities to ensure Ease of Doing Business through digitisation where Wema Bank has a comparative advantage, resolve complaints surrounding multi taxation and develop a database for MSMEs, while also planning to include NANO businesses in the grand plan to strengthen small businesses”.
She invited the Bank to be part of a committee already set up to review and develop a strategic implementation roadmap for various support that would ensure MSMEs are adequately supported and empowered to serve as catalysts for economic growth.
The Commissioner stated further that Lagos State will continue to benchmark itself against major leading cities in the world, particularly Dubai because it is a city driven by excellence just like Lagos.
On his part Mr. Tunde Mabawonku expressed the willingness of the Bank to collaborate with the Ministry in grooming and nurturing MSMEs through its Skill Centre, implementing digital and lending initiatives, and co-creating initiatives to unlock opportunities in the MSME sector.
Mabawonku said, “Wema Bank is a leader in the digital space within the banking sector and has introduced digital solutions for Micro, Small and Medium Enterprises (MSMEs), cooperative societies and others. By considering the MSMEs, our bank is focusing on one of its core areas which is small businesses, using technology to enhance their operations”
