Small and medium enterprises (SMEs) across Africa have been assured of AI-powered business insights to help them make informed decisions in an increasingly competitive landscape.
This promise was given by Stanbic IBTC Bank, which also said it would continue to focus on expanding financial inclusion for under-served entrepreneurs.
The bank said small businesses have continued to drive economic growth and innovation despite facing significant challenges.
The lender disclosed that because of these issues, it was coming in to develop tailored approaches to address the unique needs of entrepreneurs at various stages of growth.
From affordable banking options for startups to integrated payment solutions for expanding businesses, SMEs across Africa need partners who understand their specific requirements. In Nigeria, Stanbic IBTC Bank continues to position itself as a leader in this space through its BizSmart and BizSmart Plus offerings, which are low-cost business accounts, with access to digital capabilities.
Stanbic IBTC Bank’s Enterprise Online, a convenient and secure platform that simplifies digital transactions for businesses; its Blue Blossom, an account package designed to support women in business and career; and its relationship managers who establish deep, personal connections with clients by understanding their business models and growth trajectories, and providing tailored support to their ambitions, show a deep understanding of the value of partnership on an entrepreneur’s growth journey.
“At Stanbic IBTC Bank, we are committed to empowering small and medium enterprises, understanding that entrepreneurs need more than just a bank – they need a financial partner that grows with them.
“We align with our clients’ ambitions to drive growth by unlocking opportunities and delivering solutions that address the real business challenges SMEs encounter daily. We are happy that these efforts are being recognised globally,” the Executive Director for Business and Commercial Banking at Stanbic IBTC Bank, Remy Osuagwu, stated.
The company has continued to position itself as a leader in this space through its award-winning suite of purpose-built SME solutions, as recognised by EMEA Finance African Banking Awards 2024, where the company was recently announced as the Best Pan-African Bank for SMEs.
The EMEA Finance Awards highlight institutions that deliver excellence despite challenging macro-economic conditions, with a particular focus on innovation in digital services and commitment to supporting economic development.