Wema Bank Partners SMEDAN to Empower 800,000 Nigerian Businesses

In a groundbreaking initiative, Wema Bank, Nigeria’s leading innovative bank, has signed a Memorandum of Understanding (MOU) with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to empower 800,000 Nigerian businesses.

This partnership, which was formalized on February 25th, 2025, in Lagos, Nigeria, is aimed at providing training and resources to Micro, Small and Medium Enterprises (MSMEs) to enable them build profitable businesses, gain visibility, and scale sustainably.

The initiative, which will be executed over the next 12 to 18 months, will see Wema Bank providing training and resources to the 800,000 businesses, which will be curated by SMEDAN. This partnership is a testament to Wema Bank’s lifelong commitment to empowering Nigerians to thrive.

Commenting on the partnership, Wema Bank’s Managing Director/Chief Executive Officer, Moruf Oseni, reiterated the bank’s commitment to empowering Nigerians. “At Wema Bank, we don’t pay lip service to SME matters.

From inception in 1945, Wema Bank was built with a purpose to provide financing for the indigenous people of Nigeria. It wasn’t because banks didn’t exist during those years, it was because we identified the gaps in access to finance for our people. This is why Wema Bank came to life; to provide tailored financial services and empower Nigerians to thrive on both individual and business levels.”

Oseni further emphasized Wema Bank’s commitment to empowering entrepreneurs and small businesses in Nigeria. “Over the past 8 decades, Wema Bank has been driving this lifelong mission of empowering Nigerians with access to finance, constantly reinventing to develop more efficient ways of delivering value to the people. One cardinal thing that we haven’t deviated from is that we are fully committed to empowering entrepreneurs and small businesses in Nigeria. The petty traders we provided for in the 1900s are the entrepreneurs and MSMEs that we continue to empower in the 2000s, and we will never relent in fulfilling this promise. So, MSME empowerment for us is not just a buzzword. It is what we have always done, what we are doing through this partnership with SMEDAN and what we will continue to do beyond 80 years.”

Charles Odili, the Director-General of SMEDAN, commended Wema Bank’s commitment to empowering businesses and stimulating growth in the MSME sector. “I want to again, thank Wema Bank. This is a prime example of how collaboration and determination to create impact can make a positive difference. I thank you for their constant support to MSMEs and for not paying lip service to MSME Empowerment in Nigeria.”

Wema Bank has earned a reputation as Nigeria’s SME Bank, going above and beyond in empowering businesses with access to finance, visibility, market access, tailored trainings, mentorship, and various other forms of support.

Through this partnership with SMEDAN, Wema Bank is set to advance Nigeria’s MSME industry, building formidable Nigerian businesses and reinforcing Wema Bank’s position as the bank that is committed to empowering MSMEs.