ProvidusBank and Unity Bank have joined forces in a strategic partnership aimed at scaling financial access, capacity building and digital banking tools for Small and Medium-sized Enterprises (SMEs) across Nigeria.
Providus Bank and Unity Bank are driving a capacity-building initiative aimed at helping small and medium-sized enterprises (SMEs) build sustainable internal structures, operational discipline and long-term business strategy.
Organized in partnership with the Enterprise Development Centre (EDC) of Pan-Atlantic University, the hybrid three-month program has trained over 300 business owners across six states expanding its reach from Lagos to Abuja and Port Harcourt.
Small businesses play a vital role in the national economy. Data from the Development Bank of Nigeria shows that nearly 40 million Micro, Small and Medium Enterprises (MSMEs) account for 87.9% of employment and contribute 46.32% to Nigeria’s Gross Domestic Product (GDP). However, the International Finance Corporation estimates the country’s MSME financing gap at $32.2 billion, with fewer than 5% of small businesses having access to traditional bank credit.
Additionally, data from PwC indicates that 96.2% of Nigerian MSMEs operate as sole proprietorships. This organizational structure often leads to operational challenges, including unclear succession planning, limited corporate governance and the mixing of personal and business finances.
To address these structural vulnerabilities, the ProvidusUnity Bank program focuses on essential business disciplines, including financial record-keeping, risk management, business strategy, operational efficiency and growth planning. Rather than focusing solely on short-term financing, the curriculum aims to make businesses investment-ready and financially structured.
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The training framework has evolved steadily across its six cohorts. While the initial cohorts focused on helping struggling enterprises restructure, adapt their daily operations and establish long-term profitability models, later cohorts expanded eligibility to broader high-potential sectors while extending physical training beyond Lagos to reach entrepreneurs in Abuja and Port Harcourt.
Ernest Elue, Head of Business Development at ProvidusUnity Bank and coordinator of the initiative mentioned that the bank’s objective is to build a structured support platform that equips SMEs with the knowledge required to survive, scale and create jobs. Facilitator Adegboyega Adebajo added that the training helps business owners identify operational gaps and build governance structures that support sustainable long-term growth.
