Fidelity Bank Expands SME Support Through Finance, Training and Digital Tools | ClipTV Online

Nigeria’s Micro, Small and Medium-sized Enterprises (MSMEs) remain a major driver of economic activity, employment and household income, accounting for 96.9 per cent of businesses, 87.9 per cent of employment, 46.32 per cent of GDP and 6.21 per cent of exports, according to figures from the NBS and SMEDAN 2021 MSME survey cited in PwC Nigeria’s MSME Survey 2024.

Despite their importance, many SMEs continue to face significant operating challenges, including rising input costs, exchange-rate volatility, infrastructure constraints and weak consumer purchasing power. PwC’s survey of 557 businesses across 13 sectors and 29 states identified inadequate access to finance, unreliable electricity and multiple taxation among the major constraints to business growth.

Against this backdrop, Fidelity Bank has adopted an SME support strategy that combines financing with digital tools, advisory services, capacity building and market-access opportunities.

The bank’s approach recognises that the financing challenge facing SMEs extends beyond the availability of credit. Weak financial records, limited digital capacity, managerial constraints and inadequate access to markets can also affect a business’s ability to obtain and effectively utilise finance.

Reducing the Cost of Business Banking

One of Fidelity Bank’s SME offerings is the Fidelity Premium Business Account (FPBA), which provides different account structures for businesses with varying transaction needs.

Under FPBA Variant 1, customers are required to maintain a minimum opening and operating balance of ₦100,000 and can access up to ₦300 million in monthly debit turnover without account maintenance charges, subject to the applicable conditions.

FPBA Variant 2 requires a minimum operating balance of ₦1 million and has no monthly debit-turnover cap. The account also provides access to electronic banking, loan facilities and business advisory services, subject to the applicable terms.

The account structures are designed to help eligible businesses reduce transaction-related costs and retain more resources for areas such as inventory, salaries, equipment and expansion.

Financing Tailored to Business Needs

Fidelity Bank’s SME proposition also includes financing solutions intended to address different business requirements.

The approach recognises that businesses have different cash-flow cycles. A retailer requiring inventory finance, for example, has different financing needs from a manufacturer acquiring equipment or a company expanding its operations.

The bank also participates in the disbursement of government-backed MSME intervention funds and supports qualified businesses through its branch network, digital platforms and relationship management structure.

Supporting Digital and Managerial Capacity

Fidelity Bank has also focused on helping SMEs improve their operational capacity.

The Fidelity SME Empowerment Programme, launched in July 2025 at the Fidelity SME Hub in Gbagada, Lagos, provided 100 growth-ready SMEs with ERPRev-enabled point-of-sale systems and business support tools at no cost to beneficiaries.

The participating businesses received tools including business software, receipt printers and barcode scanners, alongside inventory data support, financial and bookkeeping training, branding assistance and six months of post-installation monitoring.

The programme also featured masterclasses and networking opportunities aimed at helping participating businesses improve their operational efficiency and business management.

Knowledge and Market Access

Beyond financial products, Fidelity Bank provides entrepreneurs with access to business education and networking through initiatives including the Fidelity SME Hub, SME Masterclass Series, Fidelity SME Forum and Quarterly Business Forum.

The Fidelity SME Hub offers training facilities, meeting rooms, networking spaces, advisory support and creative facilities for content production.

The Quarterly Business Forum brings SME owners together with business leaders, policymakers and industry experts to discuss issues including growth, trade, innovation and sustainability, while the SME Masterclass Series provides practical guidance on areas such as pricing, product quality, online sales, business visibility and international expansion.

The bank also uses radio and digital platforms to provide business information and, under applicable terms, offers eligible FPBA customers opportunities to feature on its SME Radio Programme.

Recognition for SME Support

Fidelity Bank’s SME initiatives have also received external recognition. The bank received the Development Bank of Nigeria Service Ambassadors Award in 2026 for the highest impact on MSMEs accessing credit for the first time.

This followed a DBN Innovation Award in 2025 recognising the bank’s contribution to innovative financial products and services for MSMEs.

The bank also supports exporters and businesses seeking international opportunities through trade and market-access initiatives.

Building More Resilient Businesses

While financial institutions cannot independently resolve structural challenges such as unreliable electricity, logistics constraints and policy uncertainty, banks can support businesses by reducing transaction costs, financing productive activity, improving digital capacity and connecting entrepreneurs with knowledge, networks and markets.

For Nigerian SMEs, the combination of finance and non-financial support can therefore be important in moving from survival and resilience towards sustainable growth.

Fidelity Bank’s strategy reflects this broader approach by combining transactional banking, financing, digital enablement, advisory services, capacity building and market access in its support for small businesses.

As SMEs continue to account for a significant share of Nigeria’s businesses, employment and economic activity, efforts to improve their access to finance, technology, skills and markets remain central to strengthening the country’s private sector and inclusive economic development.

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