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Sterling Bank Moves To Address MSME Challenges

Sterling Bank plc has announced the commencement of it Micro Small and medium Enterprises (MSME) academy on Wednesday September 30, 2015.
The academy which runs every Wednesday for four weeks, is a business clinic where the SME operators would be engaged one-on-one on their challenges and offered financial advisory services.
The president of Association of Small Business Operators of Nigeria (ASBON) would be present on the last day of the programme.
Olugbolaham Mark-George, managing director, Mark-George Consultant is the SME consultant facilitating the academy.
The academy which will commence with a pilot session in Lagos is as a result of the bank’s partnership with BusinessDay. This is in furtherance of the bank’s commitment to enriching lives by focusing on the unique needs of its entrepreneurial customers; and giving teeth to private sector involvement in the development of small businesses and the Nigerian economy at large.
“The Sterling MSME academy is aimed at capacity building for existing and emerging MSME to enable them build viable businesses and position them to access funds for expansion. MSMEs would also enjoy access to relevant and reliable business intelligence and information that would help them to navigate the challenging operating environment”, Shina Atilola, the bank’s group head, strategy and communications said.
It would be recalled that the Bank had last June partnered with LEAP Africa on the 10th edition of the Annual Africa CEO Forum. The forum themed: ‘Staying Ahead: Maximizing Profit And Mitigating Risk’ was an avenue for the CEOs to understand how to ensure proper risk identification, assessment and analysis. These factors were identified as key to minimizing revenue loss and ensuring continued business survival.
Reiterating the benefits participants stand to enjoy from the training sessions at the academy, Atilola explained that it is expected that the small businesses would experience improved asset quality as they are better equipped to manage their funds and maximize business profit.

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