First City Monument Bank (FCMB) has partnered with with SkillPaddy and other industry experts to empower over one million small and medium-sized enterprises (SMEs) in Nigeria.
The bank aims to upskill about one million SMEs through a Technical Assistance grant of ₦284.7 million from Proparco (the private-sector arm of the French Development Agency) and another ₦227 million from the African Development Bank (AfDB). These will enable FCMB to facilitate the successful onboarding and empowerment of SMEs, including women entrepreneurs, under its SheVentures proposition and those operating in high-impact sectors (agriculture, renewable energy, digital).
To kick off the programme, First City Monument Bank awarded ₦50 million in grants to 200 SMEs who participated in the first training session.
“The FCMB Accelerator Programme reaffirms our dedication to empowering businesses effectively,” said George Ogbonnaya, FCMB’s Group Head of SME banking. “We want to inspire Nigerians to pursue their entrepreneurial dreams and build a portfolio of ready businesses that can transform Nigeria’s economy.”
“This partnership with First City Monument Bank will be a game-changer for SMEs,” said Kunle Erinle, Founder and CEO of SkillPaddy. “By accelerating productivity, we can unlock doors of opportunity for startups and existing businesses, ultimately boosting Nigeria’s economic growth.”