Fidelity Bank Partners SMEDAN To Accelerate MSME Growth

In a strategic move poised to redefine the future of small business in Nigeria, Fidelity Bank Plc has entered into a formal partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

The goal: to unlock broader access to funding, markets, and growth opportunities for Nigerian micro, small, and medium enterprises (MSMEs) across the African continent.

This collaboration, sealed recently through a Memorandum of Understanding (MoU) at Fidelity Bank’s Lagos head office, will see both institutions co-develop innovative strategies to drive entrepreneurship, scale MSME operations, and strengthen Nigeria’s participation in intra-African trade.

Strengthening Africa’s Backbone—One Business at a Time

Speaking on the partnership, Dr. Nneka Onyeali-Ikpe, Managing Director/CEO of Fidelity Bank (represented by Dr. Ken Opara, Executive Director, Lagos and South West), noted that this agreement is a natural extension of the bank’s over two-decade-long commitment to Nigeria’s MSME ecosystem.

“This partnership is not just a handshake; it is a renewed commitment to transform the MSME sector into a more resilient, innovative, and export-driven force,” she said.

Under the partnership:

• Fidelity Bank will offer business-friendly loans to MSMEs referred by SMEDAN.
• Joint programmes will be rolled out focusing on financial literacy, access to markets, and capacity building.
• High-performing MSMEs will be recognised and supported with growth incentives.

A New Gateway to Pan-African Expansion

The MoU is also designed to provide Nigerian MSMEs with better positioning for regional growth, particularly through the opportunities presented by the African Continental Free Trade Area (AfCFTA).

SMEDAN’s Director-General, Mr. Charles Odii, emphasised that the collaboration would provide the foundation for “micro-multinationals” — MSMEs with the potential to scale operations beyond Nigeria’s borders.

“This is about powering the revival of entrepreneurship in Nigeria,” Mr. Odii said. “We believe this partnership can catalyse meaningful impact across employment, innovation, and export-led development.”

A Strategic Signal to Investors

For investors, the Fidelity-SMEDAN partnership reflects a deliberate alignment with national and continental growth priorities. It also underscores Fidelity Bank’s long-term strategy to strengthen its brand equity as a partner for economic transformation—particularly in the high-impact MSME segment.

This initiative positions both institutions at the heart of Africa’s growth story, where small businesses are not only economic contributors but drivers of resilience, innovation, and shared prosperity.