Abiru Calls for More Support for SMEs

Polaris Bank Limited’s Managing Director/ CEO, Tokunbo Abiru has described SMEs as catalyst for economic growth whilst pledging the support of the financial institution to advance the growth of entrepreneurs and businesses that operate in that space.

Abiru stated this recently, while playing host to the Class 24 of Fate Foundation’s Emerging Entrepreneurs Program ( EEP) at the Bank’s corporate head office. Notably, Polaris Bank provided funding for four of the participants on the EEP program.

The EEP, a flagship training program of FATE Foundation, is a highly interactive in-depth leadership and business management training aimed at equipping participants with the necessary tools and knowledge required to re- vision, grow and scale their businesses.

The visit was part of the team’s learning process aimed at providing mentorship for the 17 entrepreneurs on the EEP program; the opportunity to rub minds with the Polaris CEO who fielded different leadership and business questions from the team.

Abiru, who received the delegation welcomed the team and commended the 17 entrepreneurs of Class 24. The delegation represented key growth segments of the economy from different sectors such as: food, clothing, drinks, sustainability, manufacturing and real estate.

According to Polaris CEO, “It is interesting to note that some of you are already employing a minimum of 5- 8 staff in your respective businesses and some even more. For us however as lenders and enablers of business, we must deliberately continue to look at your business segment and the likely areas we can continue to give support and encouragement,” he added.

On her part, the Executive Director, Fate Foundation, Adenike Adeyemi, after introducing the entrepreneurs disclosed that the program is in its 9th week and they have so far covered a lot of grounds viz; strategy, financial management, cash flow management, talent management, outsourcing, risk and legal advisory. The ultimate plan she noted is to enable them develop a five year strategic blueprint for their respective businesses.

Also in attendance to receive the delegation from Fate Foundation were key executives of the Bank viz; Ayo Abina, Directorate Head, Southern Business and Femi Aribaloye, Divisional Head, Enterprisewide Risk Management, among others.

Polaris Bank provided funding for four of the participants on the highly sought after EEP. The four beneficiaries of the sponsorship who are also CEOs of their businesses include: Adunola Arowolo of K4 Twins; Uloma Amaghachi of Jenny & Jessy; Beauty Johnson of Diet Munchies and Mrs Omolara Reubens of Haoz Affairs.