In the news:
- Access Bank has partnered with SCIDaR to address financing challenges for over 200,000 health SMEs in Nigeria.
- SCIDaR will strengthen the capacity of these SMEs through technical support services, including entrepreneurship and financial management training.
- This collaboration aims to prepare health SMEs for investment and foster sustainable relationships with Access Bank.
Access Bank has signed a deal with Solina Centre for International Development and Research (SCIDaR), to tackle financing challenges faced by over 200,000 health Small and Medium Enterprises (SMEs) in Nigeria.
SCIDaR is a prominent non-profit organisation spearheading impactful health interventions across Africa.
Access Bank said in a statement that SCIDaR’s Access to Finance Specialist, Mark Akpan stated that through this collaboration, SCIDaR will among other things, strengthen the capacity of health SMEs.
This is expected to make the SMEs to be investment-ready through the provision of technical support services including entrepreneurship and financial management training in addition to business development services for a sustained relationship between the health providers and Access bank.
At the MoU signing event at SCIDaR’s headquarters in Abuja,
Chief Executive Officer of SCIDaR, Dr. Uchenna Igbokwe, said at the MoU signing ceremony at SCIDaR’s headquarters in Abuja that “Funding is critical for Nigeria’s health system. Insufficient funding has strained our health infrastructure, resulting in subpar performance on health metrics.
“This partnership with Access Bank is timely as it aligns with the government’s vision for the health sector and has the potential to strengthen health value chains and support our country’s GDP contribution.”
Chizoma Okoli, Deputy Managing Director, Access Bank, on her part, said “In 2022, we launched a project to enroll one in every two Nigerians. It’s audacious and we have attained outstanding results so far.
“As part of our ongoing mandate, we are committed to providing access to finance for entrepreneurs in the transportation, agriculture, and health sectors this year.”
Njideka Esomeju, Group Head, Consumer Banking, Access Bank, pledged Access Bank’s readiness to extend loans to health SMEs, empowering them to expand their businesses and efficiently serve rural communities, adding that this not only promotes increased financial stability but also stimulates economic growth in the health industry.
Chizoba Iheme, Group Head, Financial Inclusion, Access Bank, reiterated the bank’s dedication to expanding financial services nationwide and highlighted the strategy to reach all 774 local governments, ensuring even the most remote individuals have access to finance.
“This endeavor is enabled through our extensive agency banking network, the digital platform connecting underserved communities to formal financial services. We envision an ecosystem where financial inclusion enhances access to healthcare, ultimately improving the well-being of communities,” Chizoba said.
