Fidelity Bank Plc has launched a dedicated SME Hub and opened a free capacity-building training program in Kano State.
Fidelity Bank has introduced support initiatives for small and medium-sized enterprises (SMEs) in Kano State featuring Nigeria’s first dedicated SME Hub and free training programs for entrepreneurs.
Announced during a business town hall meeting in Kano, the initiative aims to lower startup costs and build operational skills across Northern Nigeria.
The bank stated that SMEs generate at least 80% of Nigeria’s Gross Domestic Product (GDP) making sustained support vital for national economic development.
To reduce heavy overhead expenses for new business owners, Fidelity Bank established the SME Hub as a shared office space. The hub allows entrepreneurs to conduct daily operations and hold client meetings without paying traditional upfront annual rent.
Alongside physical workspace, the bank introduced specialized accounts featuring zero account maintenance fees.
To expand access to capital, Fidelity Bank provides collateral-free loans based on business turnover while also leveraging intervention funds from the Bank of Industry (BOI), Development Bank of Nigeria (DBN) and Nigerian Export-Import Bank (NEXIM) to offer lower-interest financing. Dedicated packages are also available for women entrepreneurs (FUNDA) renewable energy projects, and youth-led businesses.
To address knowledge gaps that often lead to early business failure, the bank funds regular physical and online educational workshops covering business structuring, record keeping, and financial readiness.
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The virtual training sessions accommodate between 600 and 1,000 participants per workshop. The sessions are offered at no cost to both Fidelity Bank customers and non-customers across Nigeria and internationally, serving as part of the institution’s commitment to strengthening Kano as a key commercial hub.
