Access Bank restates commitment to MSMEs

A Group Head of Access Bank Plc, Mrs Ayodele Olojede has stated that the bank remains focused on the development and growth of the Micro Small and Medium Scale Enterprises (MSMEs) sub-sector of the economy.

Mrs Olojede advised small enterprises to make good use of the bank’s resource channels to get information and improve their skills.

She made the statement while addressing the sidelines of the 2021 National MSME Discourse, themed: “Little Beginnings: Huge Impact”.

“We are very willing to partner with our very committed entities who seek to also support the growth and development of MSMEs,” she said.

She also stated that in spite of the available financing opportunities for small businesses, access remained a problem.

She, however, assured that the bank had time and time again, invested in understanding the MSMEs segment.

“We have partnered with organizations both local and international to be able to build our competencies through technical assistance programmes that are helping us daily to de-risk the segment and that gives us confidence daily to be able to expand our footprint within that segment.

“Anybody can have money. There are so many people that have money, but their businesses still fail.

“And the reason their businesses fail is the lack of commitment or lack of understanding on the part of the business owner.

“So you can be a manufacturer who understands or be very skilful on how to produce certain items but not have the requisite management, financial skills to sail and these are very important and critical elements that could help the business succeed beyond financing.

“Some things are attitudinal and not financing: if I give somebody money and the person does not have the positive mindset, once there’s a little bit of challenge because there will be challenges, that business cannot be successful.

“The future is bright because we are evolving, and we will get there,” she concluded.