By Chinwendu Obienyi
Access Bank Plc has said it remains committed to the growth and development of the Micro Small and Medium Scale Enterprises (MSMEs) sub-sector of the economy.
The Group Head, Emerging Businesses, Access Bank Plc, Ayodele Olojede, stated this during the National MSME Discourse, themed: “Little Beginnings: Huge Impact” in Abuja recently.
While urging small enterprises to take advantage of the bank’s resource channels to get information and improve on their skills, Olojede, pointed out that supporting the growth and development of MSMEs had been a core proposition for the bank.
She added that the institution is committed to providing quality capacity building services to emerging MSMEs.
“We are very willing to partner with our very committed entities who seek to also support the growth and development of MSMEs, she said.
Despite available financing opportunities for small businesses, access remained a problem”, she said.
According to her, financing requires preparation on the part MSMEs as well as commitment of the financial institutions.
She said there is currently a disconnect whereby a lot of the financial institutions do not support small businesses in a committed manner, because they don’t understand the market well enough and they do not know how to de-risk it. And so, they are always shying away from financing that segment”.
Olojede however, stressed that the bank had continuously invested in understanding the MSMEs segment.
“We have partnered with organizations both local and international to be able to build our competences through technical assistance programmes that is helping us daily to de-risk the segment and that gives us confidence daily to be able to expand our footprint within that segment”, she said.