Wema Bank disburses N3m grant to Lagos MSMEs

Wema Bank, in its commitment to empowering Micro, Small and Medium Enterprises has disbursed business grants totalling N3m to three MSMEs at the Lagos Leather Fair.

According to a statement made available to The PUNCH, the MSMEs had emerged as winners in a business pitch competition at the fair sponsored by Wema Bank in Lagos.

The top three winners of the business grants are EwaOluwa Morenikeji of House of Ewa LTD, Joy Fache James of Paciencia, and Fatima Yusuf of House of Zibima, all of whom won N1m each, courtesy of Wema Bank.

This thoughtful gesture capped off Wema Bank’s celebration of World MSME Day, reinforcing the bank’s position as the financial institution committed to supporting Nigerian MSMEs and empowering them with the resources, tools and support they need to thrive, scale and remain sustainably profitable.

Receiving her cheque, one of the winners, EwaOluwa Morenikeji, Founder/Chief Executive Officer of a modern bag-making brand, House of Ewa LTD, shared some insight on the specific aspects of her business where she would be channelling the grant, appreciating Wema Bank for supporting the growth of her business.

She said, “I’m deeply grateful for this opportunity to put my business out there and get the support I need to scale. This is definitely going to impact my business. I intend to use this money to expand my business, get better machinery and ensure that our output continues to get better and better. This will help my business’ growth, and I thank Wema Bank for thinking of small businesses like mine and supporting us.”

Underscoring the need for concerted efforts in accelerating the growth of Nigeria’s MSME sector, Wema Bank’s MD/CEO, Moruf Oseni, firmly reiterated the bank’s commitment to championing accelerated growth in Nigeria’s MSME sector towards improving the nation’s macroeconomic conditions.

He said, “MSMEs present a two-fold opportunity for us at Wema Bank. With MSMEs constituting the bulk of the economy, empowering MSMEs not only translates to stimulating Nigeria’s economy, but even more importantly, it means extending the reach of our impact to the grassroots and providing support for the people to thrive both personally and professionally.

“For 80 years, we have remained committed to this lifelong mission of empowering lives and businesses, and relenting will never be an option for us. We will continue to meet MSMEs at their points of need and create tailored opportunities for them to thrive and remain innovative in shaping the future of Africa’s MSME sector, journeying with businesses all the way.”