Keystone Bank restates commitment to SMEs with Growbiz Account

Keystone Bank Nigeria Limited has reiterated its commitment to supporting the growth of micro, small and medium scale enterprises (MSMEs) in Nigeria. This sentiment was expressed by Hafiz Bakare, acting managing director of the bank.

Bakare said this was in line with the Federal Government’s drive to boosting the growth of small businesses through policies.

Bakare, who noted the importance of MSMEs to the growth of the economy, stated that the current employment rate could be bolstered if SMEs were provided with a conducive ecosystem with which to thrive and this, he said, was not the purview of only government. “While the government is making efforts to increase the ease of doing business in Nigeria, financial institutions have a significant role to play in supporting SMEs and this is why Keystone Bank is repositioning its GrowBiz Account to create financial options for businesses,” he said.

He said MSMEs were important to the development of the nation’s economy as they provided a means of employment generation, improvement of local technology, output diversification, development of indigenous entrepreneurship and forward integration with large-scale industries. “Today in Nigeria, many factors have contributed to the deficit of micro enterprises and their contributions to economic growth. We at Keystone Bank seek to help bridge the gap by not only providing finance but by offering financial advisory services and relevant platforms to assist in business growth,” he said.

Keystone Bank has been at the forefront of supporting micro enterprises as the bank drives economic growth from the grass roots of the society. Recently, the bank in conjunction with the Enugu State Ministry of Commerce & Industry provided support to MSMEs within the state as part of an on-going government initiative.

Growbiz account is designed to meet the needs of business owners and organizations; sole proprietors, partnerships & limited liability companies. The product is available in two variants: GrowBiz Gold Account (with minimum balance); GrowBiz Classic Account (without minimum balance). Each variant is broken down into three segments Individuals, SMEs/Traders, Corporates.

 Ugochukwu Akobi