Wema Bank, the pioneer of Nigeria’s foremost innovation bank and Africa’s first fully digital bank, has earned a reputation as a dedicated agency for SMEs, and the company has taken an initiative to authorize 800,000 Nigerian businesses. In Lagos, Nigeria, after signing with Nigeria Small and Medium Enterprise Development Agency (SMEDAN) on February 25, 2025.
Smedan is a national institution established in 2003 with the aim of promoting the development of the micro and small and medium-sized enterprises (MSME) sector of the Nigerian economy. The partnership with WEMA Bank focuses on training MSME’s soft skills, technical skills and business skills to enable them to build profitable businesses, gain greater visibility and sustainability. To implement this ambitious plan, WEMA Bank will provide training and resources for 800,000 businesses to be curated by Smedan. The initiative will conduct courses over the next 12 to 18 months.
Commenting on the partnership, Moruf Oseni, MD/CEO of Wema Bank, reiterated the bank’s lifelong commitment to empowering Nigerians to thrive. According to him, “At Wema Bank, we do not pay verbal services for SMEs.
Founded in 1945 in 1945, the construction of Wema Bank is aimed at providing financing to indigenous peoples in Nigeria. This is not because banks did not exist in those years, but because we determined the gap in obtaining funds for the people.
That’s why Wema Bank comes to life. Provide tailored financial services and empower Nigerians to thrive on their personal and business levels. ”
“For the past 80 years, Wema Bank has been pushing this lifelong mission to empower Nigerians to obtain funding, constantly reshaping the value to people in developing more effective ways. One thing we have not deviated from is that we are fully committed to empowering entrepreneurs and small businesses in Nigeria.
The little traders we offer in the 1900s were entrepreneurs and MSMEs we continued to empower in the 2000s and we will never endure fulfilling that promise. Therefore, empowering our MSME is more than just a buzzword.
This is something we have been doing, through this partnership with Smedan and the 80+ years we will continue to do. ”
Commenting on Wema Bank’s clear commitment and key role in empowering business capabilities and stimulating growth in the MSME industry, Smedan Director General Charles Odili is confident in the success of this partnership with Wema Bank to build a sustainable and successful future for MSMES in Nigeria.
He added: “I want to thank Wema Bank again. This is a great example of how collaboration and determination to create influence can have a positive impact. I appreciate your continued support for MSMES and not paying for verbal services for MSME authorization in Nigeria.”
Wema Bank has earned an admirable reputation as a small and medium-sized enterprise bank in Nigeria, surpassing its power in empowering businesses to obtain funding, visibility, market access, tailor-made training, mentoring and various other forms of support.
Through this partnership with Smedan, Wema Bank will advance the MSME industry in Nigeria, build strong Nigerian businesses, and strengthen Wema Bank’s status as a bank dedicated to strengthening MSMES.
