Access Bank, in collaboration with leading consultancy firm Deloitte, has launched a strategic initiative designed to equip Small and Medium Enterprises (SMEs) in Nigeria with the skills, insights, and tools needed to thrive in a challenging business environment.
The effort, marked by a recent Business Clinic in Lagos, aims to enhance access to finance, provide vital business intelligence, and open up market opportunities for SMEs navigating Nigeria’s dynamic economic landscape.
Empowering Entrepreneurs for a Profitable and Resilient Future
Speaking at the clinic, Abiodun Olubitan, Group Head of SME Banking at Access Bank, emphasized the program’s core goal: helping businesses become resilient, profitable, and future-ready. She noted that SMEs often struggle with three critical challenges—financing, access to markets, and actionable information—and this initiative seeks to bridge those gaps.
“Beyond offering funds, we are giving entrepreneurs the guidance and knowledge needed to adapt to changing economic and policy conditions,” Olubitan said.
Through its collaboration with Deloitte, Access Bank is offering personalized, one-on-one consultations with experts who can address the unique needs of each business. This tailored approach ensures that SMEs receive support that’s both strategic and practical.
Flexible Financing Options to Suit Every Growth Stage
Access Bank has developed a wide array of SME-focused financial solutions, covering businesses at every level—from nano and micro-enterprises to more established medium and large companies.
Olubitan highlighted that many small businesses may not yet qualify for traditional loans, which is why Access Bank offers alternative financing structures, including collateral-free loans based on cash flow assessments. This makes it easier for emerging businesses to obtain funding aligned with their actual financial performance.
The Business Clinic, now in its second edition, reflects Access Bank’s sustained effort to create a supportive ecosystem for entrepreneurs, offering not just capital but long-term mentorship and business development support.
Focus on Financial Literacy and Sustainable Growth
Rob Giles, Senior Banking Advisor for Retail Banking at Access Bank, explained that the bank’s objective is to make SMEs “finance-ready.” This means empowering entrepreneurs to understand their business models, market conditions, and how best to use financing for tangible growth.
“We’re focused on funding strategies that generate real business outcomes—such as acquiring equipment or retail spaces—not just lending for operational gaps,” Giles said. “In today’s high-interest climate, our goal is sustainable lending that drives income and expansion.”
Deloitte’s Role: Turning Insight into Impact
Toluwalogo Odutayo, Partner at Deloitte in Tax and Regulatory Services, reiterated the firm’s commitment to national development through SME empowerment. “SMEs account for over 50% of Nigeria’s GDP, yet many fail due to insufficient access to knowledge and planning tools,” she said.
Deloitte’s contribution to the partnership lies in offering industry-tested advice and regulatory insights that help businesses avoid common pitfalls and make informed decisions.
A Future-Driven Approach to SME Development
The joint initiative between Access Bank and Deloitte is a clear signal of how private sector partnerships can drive meaningful change for Nigeria’s entrepreneurial landscape. By combining financial support, expert mentoring, and market access strategies, the program is helping to build a generation of SMEs that are not just surviving—but thriving.
