United Bank for Africa, Africa’s Global Bank is pioneering a great initiative known as ‘UBA Growing Businesses’ for Small and Medium Enterprises (SMEs) in Africa in partnership with EMPRETEC Nigeria Foundation. 

UBA Growing Businesses is a unique platform committed to supporting the development of Small and Medium Entreprises (SMEs) in Africa towards sustaining the generation of employment and creation of wealth. The project will empower SME’s across the African continent through access to finance, capacity and entrepreneurial skills development.

In a recent press release, the bank stated:

United Bank for Africa Plc in partnership with Empretec Nigeria Foundation; a United Nations Commission for Trade and Development (UNCTAD) affiliate based in Nigeria, will run series of training and personal entrepreneurial skills development workshops for Small and Medium Enterprises (SME) operators in Nigeria and other parts of Africa.

In the first phase of the initiative, series of workshops on Personal Entrepreneurial Competencies (PECs) facilitated by Empretec and UNCTAD personnel will be held for over 600 SME operators in Lagos, Abuja, Port Harcourt, Maiduguri and Kano. Subsequently, several other workshops will also be held for SME operators in selected African countries such as Ghana, Cote D’Ivoire, Cameroon, Uganda and Burkina Faso.

The workshops are focused on:

• Business skills enhancement & development
• Behaviour and attitudinal training
• Facilitating access to finance
• Creation of business networking opportunities

UBA has chosen to get involved in this project based on the recognition of the immense contribution of Small and Medium Scale Enterprises to the economic development of nations and the strong conviction that the multiplier effect of equipping operators with the requisite wealth creation skills will have in the economies of African countries.

The bank also recently launched a N50 billion ($350 million) Agro Support Fund, to aid the development of the agricultural sector in Nigeria.

My Opinion

I think this is another great initiative from UBA Group. I remember some years ago, UBA launched Dragon’s Den, a TV reality show where aspiring entrepreneurs are opportuned to face a panel of Five successful businessmen and women, and pitch their business ideas to secure outright investments.

As a matter of fact, most SMEs in Nigeria need training and development as well as financial support in order to succeed, so this is a good step. However, I think the ‘UBA Growing Businesses’ project should include ICT training and capacity building workshops that would empower these SMEs with the latest web and mobile technologies needed to drive innovative businesses, especially in this economic recession.