Fidelity Bank Plc has reaffirmed its commitment to supporting small and medium-sized enterprises (SMEs) with affordable financing, business advisory services and capacity-building initiatives aimed at promoting sustainable business growth.
The bank disclosed this at the Abuja edition of its quarterly SME Business Forum, themed “Built to Compete: Positioning Abuja Businesses for Sustainable Growth,” which brought together entrepreneurs, industry stakeholders and regulatory representatives to discuss challenges affecting business competitiveness.
Speaking at the event, Executive Director, North Directorate, Fidelity Bank Plc, Sufiyanu Garba, said the bank was working with on-lending institutions to provide eligible businesses with intervention funds at interest rates ranging from 10 to 16 per cent, depending on the applicable funding scheme.
He explained that the initiative was designed to improve access to affordable credit and ease financing constraints facing small businesses, particularly women-owned enterprises, youth-led businesses and companies operating in the green economy.
According to him, Fidelity Bank is committed to providing entrepreneurs with the financing, knowledge, business connections and solutions required to build resilient and competitive enterprises.
Garba, however, urged business owners to strengthen their financial management practices, maintain proper records and embrace technology to improve operational efficiency.
He noted that strong sales do not necessarily translate into profitability or healthy cash flow, stressing that businesses must understand their cost structures and manage working capital effectively to achieve sustainable growth.
“A business may record strong sales and still struggle with cash flow. Sustainable growth requires business owners to understand what drives profitability, manage costs and working capital effectively, keep reliable records and use technology to make better decisions,” he said.
He added that these business management practices would position entrepreneurs to access financing, explore larger market opportunities and compete successfully.
Garba further highlighted the bank’s range of financing solutions, including working capital facilities, overdrafts, term loans, asset and equipment financing, trade finance and structured lending tailored to different business needs and operating cycles.
The forum also provided an opportunity for business owners to interact with regulatory stakeholders on taxation, customs procedures, importation, exportation and other regulatory issues affecting their operations.
Commending the initiative, Secretary of the Iron Dealers Association, Mararaba, Okwuchukwu Okolo, described the forum as a valuable platform for entrepreneurs to engage directly with financial institutions and regulatory agencies.
He said the discussions provided useful clarification on multiple taxation and customs procedures, helping business owners better understand their regulatory obligations.
Similarly, Chief Executive Officer of Febesth Global Resources Limited, Abuja, Folake Olufemi, praised Fidelity Bank for creating opportunities for knowledge-sharing, networking and direct engagement with stakeholders.
Olufemi said she gained useful insights into importation procedures and appropriate channels for resolving customs-related complaints, adding that the engagement would help businesses navigate operational challenges.
The Fidelity SME Quarterly Business Forum has held editions in Lagos, Kano, Port Harcourt and Abuja, forming part of the bank’s broader strategy to strengthen the SME sector through access to finance, business knowledge, market opportunities and strategic partnerships.
Fidelity Bank Plc is a commercial deposit money bank serving more than 10 million customers through digital banking channels and 255 business offices across Nigeria, as well as its United Kingdom subsidiary, FidBank UK Limited.
The bank has received several local and international recognitions, including the 2025 Development Bank of Nigeria Innovation Award for MSME Support, Best Retail and SME Bank Award by Independent Newspapers, and Best Bank for Export and Trade Finance at the 2025 BusinessDay Banks and Financial Institutions (BAFI) Awards.
Other recognitions include Nigeria’s Best Private Bank at the 2025 Euromoney Awards, SME Bank of the Year by NewsDirect and the Most Improved Commercial Bank of the Year award by Nairametrics.
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