Primera Microfinance Financial institution, a totally licensed and technology-driven finance establishment that provides monetary options to companies and people stated it has prolonged over N5bn financing to Small and Medium Scale Enterprises in 2022.

In an announcement, the financial institution stated it completed the feat by strategically concentrating on key development sectors within the SME house to stimulate their business and financial It pledged to keep up sturdy financing strains to entrepreneurs within the economic system, to allow them climate financial headwinds and surmount vital monetary challenges.

In recognising the important thing function that gender-diversity and monetary inclusion for ladies play in driving sustainable financial development, roughly 26 per cent of the financing strains have been made out to feminine entrepreneurs within the present monetary yr, doubling the 13 per cent share recorded in 2021, it stated.

It added that the funding strains have been centered on enabling small and medium-scale entrepreneurs maintain and develop their companies in addition to empower them to launch new companies to compete within the market.

The Chief Govt Officer, Primera Microfinance Financial institution, Mr Unwana Esang, talking on the event stated, “At Primera MFBank, we’re solidly dedicated to constructing the capability of Small and Medium-Scale Enterprises on this economic system to make sure they thrive, create wealth for our folks and add worth to society.

“That is vital as a result of in response to out there knowledge, over 99 per cent of registered companies in Nigeria are MSMEs they usually contribute 46 per cent of our Gross Home Product, that is along with offering over 87 per cent of employment in our economic system.

 “So, we’re very deliberate in our focus to develop this crucial dimension of our economic system by leveraging one in all our must-win aims of considerably bettering buyer and stakeholder satisfaction.”

He added that, “Our financial institution, by means of our Primera Enterprise proposition, is proud to be championing the reason for SMEs in our economic system, and in recognition of the truth that entry to finance is a serious problem to SMEs, we now have optimised our lending processes to make our financing strains extra accessible and out there in a time and cost-efficient method to our extremely valued SME clientele.

“Along with these, we now have established partnerships which have considerably improved on credit score software assist, in addition to the data, experience and enabling infrastructure round SMEs by means of our periodically held and really well-attended Primera SME clinics.”