Keystone Bank, LCCI Partner To Empower MSMEs In Nigeria

Keystone Bank Limited recently partnered with the Lagos Chambers of Commerce and Industry (LCCI) to launch an annual SME Support Centre to support the micro, small and medium scale enterprises (MSMEs) in Lagos State and by extension, Nigeria.

According to the LCCI, the inaugural edition of the programme which was held on 12th of March 2020 in Lagos, was aimed at introducing business consultancy services to boost businesses of entrepreneurs in the state. The statement further said that the Chamber intends to achieve this through collaboration with external subject matter experts.

“The MSMEs is an integral sector in Nigeria. The free clinic is also coming at a time when stakeholders are raising concerns about planned increase in taxes and electricity bills. Therefore, our aim is to ensure that MSMEs get the necessary support through mentorship to stay afloat despite the various challenges.

“Partnering Keystone Bank on this project made the job easier because the bank is one of the financial institutions that believe so much in the growth of MSMEs in Nigeria,” the statement noted.

Speaking on the bank’s involvement in the scheme, Helen Nwelle, Group Head, MSME & Value Chain Management of Keystone Bank applauded the initiative as a welcome development in a bid to enable SME growth.

According to her: “Keystone Bank is an SME-centric bank focused on delivering tailored MSME value offerings and that has continually spurred our involvement in programmes like this.

“SMEs are the bedrock of our economy and the LCCI

SME Support Center will provide a platform where SMEs can meet seasoned Consultants who will offer advisory services in areas of bookkeeping, capacity building, branding and digital marketing, to enable them remain competitive in the current business climate.

“According to SMEDAN’s latest report, 99% of SMEs are in the micro sector which means a lot of them are unstructured making it difficult for them to access finance from Banks and other Funders. Therefore, this Initiative will help empower SMEs with the needed skills for bookkeeping and cash flow analysis to aid finance readiness,” Nwelle said.

At the forum, Keystone Bank provided hands-on consultation and support for over 30 participants including bespoke business and financial advisory services, as well as a recommendation of business tools and models.

Keystone Bank is a technology and service-driven commercial bank offering convenient and reliable solutions to its customers.