geo/nigeria

Location
9.136673028339, 7.3828125
Fragile and Conflict affected situations (FCS)
On
07 Dec, 2023
Lagos, Nigeria / Virtual
Wema Bank, Nigeria’s foremost financial institution and pioneer of Africa’s first fully digital bank – ALAT is calling on Partners, Fintechs, Technical Experts to work with them to create Innovative Financing on Gender Lens and Climate Resilience...

Zalgroup joins the SME Finance Forum to add value and create wealth for MSMEs in Nigeria

Washington D.C., February 16th, 2020.- Zalgroup joins the SME Finance Forum as the newest member of our global membership network. Our members are SME Financing experts from 80+ countries who share the common goal of expanding access to finance to small businesses worldwide, through knowledge exchange and innovation. 
 
“40 percent of small and medium businesses worldwide struggle to get access to the credit and capital that they need to grow their enterprises. We are delighted to welcome Zalgroup to our network of 200 members who are working to eliminate the finance gap for SMEs,” said Matthew Gamser, CEO of the SME Finance Forum. 
 
Private sector development plays a frontal role in the economic emancipation of people. And, this is a very important sector in Nigeria for its developmental opportunities that are able to create economic progress while bridging gaps. Zalgroup offers these opportunities to MSMEs in Nigeria through business development services, business linkage programs, and training and consultancy services. 
 
“Our vision is to be the most productive company in wealth creation and adding value to our clients, stakeholders and partners within the Delta and beyond by building strategic partnerships towards economic development and creating platforms that enhances capacity development and skills acquisition. We look forward to enhancing these opportunities as a member of the Forum,” said  Ayibakuro Zigha, MD/CEO of Zalgroup.
 
About SME Finance Forum 
The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research, and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative.
 
To see all SME Finance Forum members, please visit: https://www.smefinanceforum.org/members/member-list
 
About Zalgroup
Zigha Ayibakuro Limited (Zal) is an economic enterprise development company with a core focus on providing business support functions such as linkages to market, finance and technical/enterprise service to MSMEs, while engaging stakeholders in creating an enabling environment for private sector led development in Nigeria. 
 
Media Contact  
Carina Carrasco  
 

New Member: SunTrust Bank provides unique financial services and products to consumers

Washington D.C., December 18th, 2020- SunTrust Bank joins the SME Finance Forum as the newest member of our global membership network. Our members are SME Financing experts from 80+ countries who share the common goal of expanding access to finance to small businesses worldwide, through knowledge exchange and innovation. 
 
“40 percent of small and medium businesses worldwide struggle to get access to the credit and capital that they need to grow their enterprises. We are delighted to welcome SunTrust Bank to our network of 200 members who are working to eliminate the finance gap for SMEs,” said Matthew Gamser, CEO of the SME Finance Forum. 
 
To see all SME Finance Forum members, please visit: https://www.smefinanceforum.org/members/member-list
 
SunTrust Bank is a commercial bank that strives to create the best outcomes for their clients and customers with financial ingenuity that leads to solutions that are simple, creative and responsible. The Bank focuses its lending activities on SME Finance, Retail/Consumer Banking, medium to large Corporate Finance and explores other specialized Development/infrastructure financing activities.
 
“Our vision is to create a retail bank of choice and to serve as trusted partners to our clients. To deliver that quality of service, we explore new avenues to increase business and capture new market. With the help of the SME Finance Forum, we hope to expand our network and create a positive experience for our customers,” said Hajia Halima Buba, CEO of SunTrust Bank.
 
About SME Finance Forum  
The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research, and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative.
 
About SunTrust Bank
SunTrust Bank is a privately held Commercial Bank licensed by the Central Bank of Nigeria under the BOFIA. They provide easier access to funds to bridge short term funding needs for business operations and enhance the growth of businesses. 
 
Media Contact    
Carina Carrasco   
 

Tunde Kehinde of Lidya on Finance and the Digital Divide

Small and medium businesses have been some of the hardest hit in the COVID-19 pandemic. And all that has been as true in emerging markets as it has been for SMBs in the developed world. 
 
Tunde Kehinde has had a front-row seat witnessing and responding to that crisis. He’s the CEO and co-founder of our global member Lidya, a startup out of Nigeria that has built a platform for SMBs to apply for and get loans and other financial services, aimed at markets on the African continent and increasingly also in emerging economies in Europe. 
 
Read the article here> 
 
About Lidya  
 
Lidya is a USA holding financial institution that provides access to credit and finance across frontier and emerging markets. Their team is spread across 3 continents and 5 countries which are USA, Portugal, Nigeria, Poland and Czech Republic. 

Nigeria

Submitted by tfang@ifc.org on
Country
Current Volume
8621262054
Finance gap
121188972399
Micro Women Gap
17538298700
Micro Men Gap
103650673700
MSME Women Gap
17538298700
MSME Men Gap
103650673700
Micro Gap ( Men and Women )
121188972400

Zenith Bank, a leading Nigerian commercial bank, joins the SME Finance Forum

Washington D.C, January 31, 2024 – Nigeria’s Zenith Bank has joined the SME Finance Forum as the global membership network’s latest member. The 240+ members of the Forum are SME financing experts operating in 190 countries who share the common goal of expanding access to finance to small businesses worldwide through knowledge exchange and innovation.

“SME Finance Forum is delighted to welcome Zenith Bank, a leading bank in Nigeria and Africa, into our network. I am confident they will further contribute towards our decade-long efforts in expanding access to financial services for SMEs. We have been building a global network of SME-focused institutions imparting knowledge, scaling innovations, sharing best practices and influencing policy shifts, and we are proud to welcome Zenith Bank today,” said Qamar Saleem, CEO of the SME Finance Forum.

Zenith Bank is a commercial bank founded in 1990 and headquartered in Nigeria. Zenith Bank has subsidiaries in Ghana, Sierra Leone, The Gambia, the United Kingdom and United Arab Emirates. It currently has over 400 branches and cash offices.

“Through our association with the SME Finance Forum, Zenith Bank aims to grow our SME franchise, learn from world-class organizations and members, gain access to trainings and international resources, participate in Communities of Practice, and network with our peers and key players,” said Lanre Oladimeji, DGM, Group Head Retail & SME Banking at Zenith Bank.

 
About SME Finance Forum 

The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research, and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative. The Forum operates a global membership network of +240 members that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.  

Discover the SME Finance Forum members: 
https://www.smefinanceforum.org/members/member-list

 

About Zenith Bank
Zenith Bank PLC is headquartered in Nigeria with subsidiaries in Ghana, Sierra Leone, The Gambia, the United Kingdom and United Arab Emirates. The bank commenced operations in May 1990 and currently has over 400 branches and cash offices.

Learn more
Website: https://www.zenithbank.com/

Facebook: https://www.facebook.com/zenithbank/

Twitter: https://twitter.com/ZenithBank

Linkedin: https://www.linkedin.com/company/zenith-bank-group/

 

MEDA

MEDA (Mennonite Economic Development Associates) is an international economic development organization founded in 1953 whose mission is to create business solutions to poverty.

Country / Region
Member Since
Organization Type
Location
50.7147661, 4.3991201
Contact Person Name
Lindsay Wallace
Contact Person Title
Senior Vice President Strategy and Impact
City/Town location
Waterloo

Asante

Asante Financial Services Group is a Credit-Led Neo Bank that supports Africa’s growth through provision of financial services to growing businesses. 

Country / Region
Member Since
Organization Type
Location
-1.2920659, 36.8219462
Contact Person Name
Chidi Okpala
Contact Person Title
CEO
Contact Person Email
chidi.okpala@asantefinancegroup.com
City/Town location
Nairobi
Operation countries

Proparco Supports the Nigerian Bank FCMB to Strengthen its Commitment to High-impact SMEs and Climate Projects

The operation consists of a USD 35 million loan and a EURIZ portfolio guarantee of NGN 5 billion (EUR 10 million equivalent) to support First City Monument Bank Ltd (FCMB) strategy to serve high-impact SMEs and for climate finance. Proparco and FCMB have already had the opportunity to collaborate through two FMO-arranged operations in 2014 and 2019 and the provision of two ARIZ guarantees signed in 2018 and 2020.

In Nigeria, micro, small and medium enterprises (MSMEs) represent 96% of the country's businesses. They create jobs (84% of employment) and contribute to national wealth (48% of national GDP). However, access to financing is their main challenge today.

One of Nigeria’s most SME friendly banks, First City Monument Bank Limited, is well positioned to offer financing solutions adapted to these companies. It is a specialized organization that has developed a solid digital offering, the Quickloan platform, for SMEs.  The bank has strong growth ambitions in this segment.

FCMB was recognised as the Best SME Bank in Nigeria at the Asian Banker Middle East and Africa Regional Awards for the second year running. It is recently the most decorated bank by development finance institutions in Nigeria, with nine awards in the last four months, for its impact on the segment. Proparco's intervention in both financing and risk sharing will enable FCMB to strengthen its positioning in the high-impact SME segment and in climate projects. Proparco's financing supports FCMB's objective of promoting the financial inclusion of women through the SheVentures program implemented by FCMB in 2019 which offers women entrepreneurs dedicated solutions such as interest-free and concessional loans, as well as adapted training and mentoring. As such, the project is eligible for the 2X Challenge.

As for the EURIZ portfolio guarantee, it will provide a 70% guarantee for the bank's loans to high-impact SMEs: SMEs run by women or young people, SMEs operating in the agriculture, education, health and digital sectors, young startups or green SMEs. Launched in May 2019 with the support of the European Union and the European Development Fund, as well as the African, Caribbean and Pacific (OACPS) Group of States, the EURIZ guarantee aims to facilitate access to credit for SMEs, particularly in high-impact development sectors, in order to help them play their essential role in economic growth and job creation. It is also part of Choose Africa, a French initiative targeting African SMEs.

By collaborating with FCMB, a key player in SME financing in Nigeria, AFD Group is facilitating the financing of local economic players who are facing the impact of the Covid-19 crisis. The project aims to foster the development of the local private sector in sectors and segments that are critical to achieving sustainable and inclusive economic growth. As a result, it will contribute to SDG 8 ("Decent Work and Economic Growth"), 5 ("Gender Equality"), 7 ("Clean Energy"), and 13 ("Combating Climate Change").