Heritage Bank Plans To Drive SME Expansion

Managing-Director-and-Chief-Executive-Officer-Heritage-Bank-Mr.-Ifie-Sekibo-360x225Heritage Bank Limited says it is committed to building a network of entrepreneurial leaders necessary to drive the growth of the Micro Small and Medium Enterprises in Nigeria.
The Managing Director/Chief Executive Officer, Heritage Bank, Mr. Ifie Sekibo, was quoted as saying that the bank had introduced a wide range of services which could address the capacity and financing needs of the MSME.
“The goal of Heritage Bank’s MSME offerings is to build a network of entrepreneurial leaders that will drive the growth of the sector; this will enhance the ability of the MSME sector to effectively play its role as the engine growth of the economy,” he said.
According to him, Heritage Bank’s commitment to leadership building in the MSME sector is reflected in the bank’s SME Clinic.
Sekibo added, “The Heritage Bank’s SME Clinic is designed to enhance the entrepreneurial capacity of our SME customers. Through the clinic, Heritage Bank understands the different aspects of the customer’s business in order to identify areas where it can add value. As a result, we are able to develop customised products and services based on the identified needs of each SME customer.”
The CEO said the development was meant to complement the Heritage governance model, a platform through which the bank introduces corporate governance framework to its MSME customers.
According to him, the phase one of the scheme focuses on issues around statutory and regulatory obligations.
To further demonstrate its commitment to the growth of the MSMEs, Heritage Bank said it had also developed the Paris Club Scheme in partnership with RSL Derivatives Limited.
This, it said, was a credit enhancement scheme specially designed for the SMEs to collectively help each other to create a platform that would accelerate growth and give the SMEs easy access to funding.
The solution would provide a platform for the SMEs to adopt best practices in managing their firms and to enable them to access loans from Heritage Bank without any hard core collateral.

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