The Managing Director/CEO of Heritage Bank Plc, Mr Ifie Sekibo, has said with partnership and rigorous commitment to their businesses, the micro, small and medium enterprises (MSMEs) would bolster the nation’s economy for sustainable growth.
He spoke on the heels of dwindling financial resources following the global economic crisis occasioned by the Covid-19 pandemic.
Sekibo, who disclosed this during a webinar, a virtual conference platform at the Upgrade Summit 2020, said the bedrock of any vibrant economy is hinged on the continued survival of SMEs.
“To continue to survive and remain the bedrock of the nation’s economy, the players must continuously reinvent themselves, complement each other, dream big, possess cutting edge ideas and think before venturing into businesses,” he said in his contribution to the interactive session.
PerSecondNews reports that the theme of the conference was, “Converting Ideas into Reality with Focus on SMEs”.
Sekibo emphasized the need for SMEs to look inward, learn and relearn, possess the spirit of self-sacrifice and believe.
He declared: “They must be bold and should not be afraid to fail.
“Among small and medium-sized enterprises (SMEs) in Nigeria, there has been too much of an individual focus, rather than a holistic or intergenerational focus.
“There is not enough focus on partnership among Nigerian SMEs and this causes ventures to fail.”
On empowering the entrepreneurship sector, the Heritage Bank CEO said more needed to be done in the area both by the government and the financial institutions.
“The sector is an agent of development.
“One of our major cardinal point as a bank is supporting micro, small and medium scale businesses and our strong desire to see young men and women succeed in any area of their business.
“This will help the society and economy to grow, thereby moving the nation from poverty occasioned by Covid-19 to prosperous economy,” Sekibo said.