Sterling Bank, SMEDAN partner on Nigeria’s largest SME database

Sterling Bank Plc, one of Africa’s fastest-growing companies, has signed an agreement with the Small & Medium Enterprises Development Agency of Nigeria (SMEDAN) to establish a comprehensive database of Small and Medium Scale Enterprises (SMEs) in Nigeria. This will help in scaling intervention programs and providing tailored solutions that truly contribute to the growth of SMEs.

The signing ceremony took place in Lagos, where the Chief Executive Officer of Sterling Bank, Mr. Abubakar Suleiman, expressed his optimism about the collaboration.

He said genuine collaborations, driven by opportunity rather than regulation, often yield positive outcomes.

He regarded this partnership as one of those promising ventures, highlighting that no external regulatory pressure compelled their cooperation.

Suleiman stressed the significance of MOU, while stating the critical role of data in economic development.

Director-General of SMEDAN,Mr Olawale Fasanya, expressed his appreciation for the bank’s initiative and highlighted the MoU’s immense value to SMEDAN’s operations.

Fasanya stated the criticality of data to their activities, citing their recent online registration of SMEs.