First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced its SME specific accounts designed to reinforce the Bank’s role in putting SME’s at an advantage whilst contributing to national growth and development.
The SME accounts – which are in two variants –
FirstSME Classic and FirstSME Deluxe – are offered to SMEs, irrespective of
industry, and tailored to have SMEs exposed to a wide range of services and opportunities
that are essential for their continued growth and role in contributing to
national development. The advantages and features of these accounts include; access to Temporary OverDrafts (TODs) and
other facilities subject to meeting Risk Adjustment Capital (RAC) of each
product; immediate enrollment on all digital platform; free
access to FirstBank SME events; free access to extensive business promotional
and networking opportunities on the SMEConnect portal; access to a wide range
of discounted and promotional offers.
Amongst the many opportunities available to holders
of FirstSME account is the SMEConnect initiative of FirstBank
which is a platform through which SMEs access the Bank’s unique propositions
that will equip them with the essential tools needed for the growth of their
business. The SMEConnect portal is also designed to help SMEs identify
various gaps that hinder their business growth. With FirstBank’s over 126 years
of impacting the economy, the Bank’s SME innovative Business Diagnostics Tool will
also help proffer tailored solutions, whilst creating avenues for business
improvement, profitability and sustainability.
Following
extensive research by the Bank, 7 strategic pillars have been considered essential for the
sustainability and growth of SMEs. The 7 pillars – connect to infrastructure,
connect to talent, capacity building, connect to policy and regulation, connect
to resources, connect to market as well as connect to finance.
According to the Chief Executive Officer of
FirstBank, Dr. Adesola Adeduntan, “FirstBank is delighted to unlock several
opportunities for SMEs to thrive. Our FirstSME account is one of the numerous
opportunities designed to empower SMEs to continually drive impact as the
backbone and contributors to employment and economic growth.
Being woven into the fabric of the society for
close to 127 years means that we remain at the forefront of providing the
desired financial products and services to fit the needs unique to the SMEs as
well as facilitating the requisite tools and resources to efficiently and
effectively drive business sustainability and expansion strategies essential to
taking SMEs to the next level’’
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