Primera MFB boosts SMEs financing with N5bn

Primera Microfinance Bank, a fully licensed and technology-driven finance institution that offers financial solutions to businesses and individuals said it has extended over N5bn financing to Small and Medium Scale Enterprises in 2022.

In a statement, the bank said it accomplished the feat by strategically targeting key growth sectors in the SME space to stimulate their commercial and economic It pledged to maintain robust financing lines to entrepreneurs in the economy, to enable them weather economic headwinds and surmount critical financial challenges.

In recognising the key role that gender-diversity and financial inclusion for women play in driving sustainable economic growth, approximately 26 per cent of the financing lines were made out to female entrepreneurs in the current financial year, doubling the 13 per cent share recorded in 2021, it said.

It added that the funding lines were focused on enabling small and medium-scale entrepreneurs sustain and grow their businesses as well as empower them to launch new businesses to compete in the marketplace.

The Chief Executive Officer, Primera Microfinance Bank, Mr Unwana Esang, speaking on the development said, “At Primera MFBank, we are solidly committed to building the capacity of Small and Medium-Scale Enterprises in this economy to ensure they thrive, create wealth for our people and add value to society.

“This is critical because according to available data, over 99 per cent of…

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