How Wema Bank is Supporting and Empowering MSMEs

How Wema Bank is Supporting and Empowering MSMEs

Wema Bank is passionately committed to supporting the growth of Nigeria’s small business community, recognizing entrepreneurs as vital to the nation’s enduring economic progress.

This heartfelt dedication was reaffirmed when the bank celebrated a significant achievement at the Global SME Banking Innovation Awards 2026, winning two prestigious awards. The bank was honored as SME Financier of the Year and for its groundbreaking digital SME Lending Product—acknowledging its efforts to broaden credit access and develop an inclusive, digital-first ecosystem that eases traditional banking challenges.

Moruf Oseni, the Managing Director and CEO, expressed pride in these awards as both milestones and calls to action to further assist local businesses. “Small and medium-sized enterprises are the heart of Nigeria’s economy. They foster innovation, create jobs, and support sustainable growth,” he shared.

He also emphasized that the bank’s approach is evolving from simple transactions to creating a comprehensive support network.

“At Wema Bank, we see the incredible potential within this sector and understand the obstacles entrepreneurs face in accessing necessary financial tools. That’s why we are dedicated to building an ecosystem that extends beyond traditional banking—offering accessible financing, seamless digital solutions, advisory services, and market opportunities to help businesses succeed,” he explained.

A shining example of this support is the MSME Instant Loan, which earned the bank the Best SME Lending Product award. This fully digital, collateral-free application process has drastically reduced disbursement time from weeks to minutes, making a tangible difference in entrepreneurs’ lives.

Tunde Mabawonku, the executive director of retail and digital banking, highlighted how technology is opening new doors for entrepreneurs, stating, “Digital lending models are breaking down long-standing barriers to credit and promoting greater financial inclusion for more people.”

Wema Bank’s efforts also extend to serving specific groups and building digital capacity. Through the ALAT platform and initiatives like SARA by Wema, dedicated to women entrepreneurs, the bank provides tailored advice, training, and integrated platforms to simplify business operations.

With over 80 years of history, the bank believes its mission remains rooted in fostering inclusive growth through innovative, high-impact partnerships. As Oseni gently concluded, “These awards remind us of our duty to empower businesses and lay a strong foundation for enterprise across Nigeria.”