Fidelity Bank has launched new support initiatives for small and medium-sized businesses in Kano, including a dedicated SME Hub, free training programmes and financing products designed to reduce some of the barriers facing entrepreneurs.
The initiatives were announced during an interactive town hall meeting with business owners.
Divisional Head of SME and Digital Banking Gochi Osinigwe said the bank wanted to support customers from startup stage through expansion into larger businesses.
She said the SME Hub would provide shared office and meeting space for entrepreneurs who might otherwise struggle with the high upfront cost of commercial rent.
The bank described the facility as the first dedicated hub of its kind within its SME support programme.
Fidelity is also expanding free business training delivered both physically and online.
Osinigwe said virtual sessions often attract between 600 and 1,000 participants.
The programmes are open to both customers and non-customers.
Topics include business structure, financial records, access to finance and the separation of personal and business accounts.
The bank said inadequate bookkeeping and weak financial management often prevent small businesses from becoming sufficiently organized to qualify for formal credit.
Fidelity also offers collateral-free lending for qualifying businesses based on turnover and other performance indicators.
It said it works with intervention funds from institutions including NEXIM, the Development Bank of Nigeria and Bank of Industry to provide financing at more competitive rates.
Specialized products include support for women-owned businesses, renewable-energy projects and young entrepreneurs.
Bank officials described Kano as an important commercial centre for northern Nigeria and said the new initiatives were intended to strengthen business capacity across the region.
The broader objective is to help small firms reduce startup costs, improve management practices and gain better access to formal finance.
