Diamond Bank Allies SME100 to Boost MSMEs’ Capacity

In its order to build and support economic growth and development in the country, Diamond Bank, in partnership with SME100, has rolled out strategic capacity development programmes that would boost the productive strength of Micro, Small and Medium scale Enterprises, MSMEs.

The Bank’s Chief Executive Officer, Uzoma Dozie, stated at a networking event which held recently in Lagos for MSME operators and stakeholders, that the sector held the key to rapid economic growth, pointing that the adoption of technology in structuring their businesses was the surest way to business stability and predictable breakthrough.

Speaking on the topic: “The Age of Digital Disruption; Leveraging Technology for Business Growth,” Dozie in his highly engaging session, noted that the need for small businesses to adopt technology in their processes cannot be overemphasized, stressing that technology stimulates productivity while saving time and energy.

“The future of Africa is digital, and technology creates opportunities for the acquisition of useful skills and this should be embraced by all business owners. Business owners should have a platform that will enable them engage their customers from a conversational to a marketing perspective”. Dozie stated.

According to him, online awareness was very cost effective and good for business. He said the adoption of appropriate technology would position businesses for banks to lend to them, adding that Diamond Bank is in business to help entrepreneurs operating in the MSME segment of the economy and also lend to customers, individuals and corporate organizations.

Dozie pointed that Diamond Bank demonstrated its commitment to the growth and development of the MSME segment of the economy through its Business Express seminar, which holds every quarter across the country by offering non-financial benefits and services to help them grow their businesses organically.

Earlier in his welcome address, Executive Director, SME100 Nigeria, Charles Odii, stated that businesses could only remain competitive if the management embraced the multiple advantages that technology offered, adding that to shun technology was to “risk extinction”.

He said: “In order to remain relevant, businesses must begin to conform to the change that technology is bringing across various sectors.

Early adopters of digital age are bound to have an edge over those who choose to retain traditional processes and distribution channels in their businesses”.

Through the networking and capacity building events, Diamond Bank and SME100 aims to stimulate entrepreneurship among young Africans by identifying, supporting entrepreneurs and enabling communities to reap the transformational benefits of SME participation in the economy.

The event also spotlights exemplary entrepreneurial models that can help improve the capacity of young entrepreneurs to SME100 as well as stimulate entrepreneurship among them.