Wema Bank empowers SMEs

Wema Bank, the pioneer of Africa’s first fully digital bank, has concluded the first cohort of its Wema Export Trade Academy.

It said the programme equips Nigerian Small and Medium Enterprises with essential skills, insights, and resources for entering and thriving in the global market.

The Academy, according to a statement from the bank, hosted over 40 participants in Lagos. It highlights Wema Bank’s commitment to enhancing Nigeria’s economic landscape by opening new global opportunities for local businesses.

The statement said the Wema Export Trade Academy provides hands-on support for SMEs tackling critical challenges in international trade.

Led by top industry facilitators like Dr Bamidele Ayemibo, an authority in international trade education across Africa, and Dr Nduka Udeh, founder of Shoptomydoor.com and a pioneer in cost-effective global logistics and procurement services, the five-day sessions delved into key areas of export documentation, compliance, financial planning, and risk management.

Participants gained a comprehensive understanding of the export process, including the financial needs of exporters, global buyer expectations, and identifying potential international buyers. As a result, these SMEs now have the tools to approach global markets with greater knowledge, confidence, and strategy.

Reflecting on the Academy’s impact, Ayemibo emphasized the importance of sustainable practices and real-world insights.

He said,  “What Wema Bank is trying to do is support SME businesses within the export space and those that are trying to come in, and that is what we have been doing over the past five days. The goal is to help those already doing exports to do it in a better and more sustainable way.

“The essence of the conversations we have had in the past few days is for them to learn and implement; some of them who are here are already exporting, and with the training they have now learned, they realized they are now doing some things wrongly and can do things better.”

The Division Head of Operations, General Services, and BPR at Wema Bank, Mr Tajudeen Bakare, echoed this commitment, stating, “We have over 40 participants from all over Nigeria in attendance, training them and equipping them with how to access financing for their export businesses.

“The SME businesses have established relationships with us; we are going to handhold them and grow their businesses. We are not just training and leaving them to struggle for themselves; we are going to equip them with the necessary resources, both financial and skills, that they require. It is going to be a partnership that begins with them.”

One of the participants in the programme, Mr Dele Badejo, a longtime importer, said the Academy has been a transformative experience for him.