World MSME Day: Wema Bank to disburse N2.5m grants to top three SMEs

Wema Bank, the official gold sponsor of Lagos Leather Fair (LLF) 2025, has pledged to disburse N2.5 million in grants to the top three outstanding Small and Medium Enterprises (SMEs) participating in the 8th edition of LLF 2025.

The fair, scheduled for June 28-29, 2025, at the Balmoral Federal Palace Hotel in Lagos, will showcase Africa’s diverse leather industry, attracting leather enthusiasts, manufacturers, suppliers, designers, and other key players.

This marks the second consecutive year Wema Bank has sponsored the Lagos Leather Fair, reinforcing its commitment to empowering businesses.

The Lagos Leather Fair is an annual showcase of Africa’s Leather Industry, convening leather enthusiasts, manufacturers, suppliers, designers and other key players in the leather ecosystem from across the globe, to celebrate African culture, creativity and craftsmanship in style.

The bank’s exclusive banking proposition, Prestige by Wema, will promote access to market for participating entrepreneurs, connecting them with high-net-worth individuals who can provide visibility, patronage, and potential cross-border business expansion opportunities.

Wema Bank’s Managing Director and CEO, Moruf Oseni, emphasised the importance of access to market in stimulating SME growth, stating, “Funding is crucial to business growth, but access to market is equally vital.”

He reiterated the bank’s commitment to supporting businesses and providing tailored solutions at every stage of their journey.

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For us at Wema Bank, we don’t simply stop at providing funding for businesses. Our motto is ‘With You, All The Way’ and in that fashion, we make it a point to journey with these businesses, understand their needs and meet them at every point with the solution to these needs, be it funding, market access, advisory services, trainings and capacity building or any other resources they may need. Sponsoring the Lagos Leather Fair is one of the ways in which we are supporting the growth of Africa’s SME sector.”

Wema Bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku, noted the bank’s long-standing commitment to SME empowerment, saying, “We will continue to go above and beyond in supporting SMEs beyond celebratory days.”

He encouraged everyone to join in promoting Nigerian-owned businesses at the Lagos Leather Fair 2025.

“As Nigeria’s oldest indigenous bank, Wema Bank has disbursed over N300 billion in loans and grants to MSMEs, empowered 800,000 SMEs through capacity-building programs, and facilitated market access in 14 states across Nigeria and international markets.

“Also, for individuals who will be attending the fair as well as the vendors exhibiting, Wema Bank has also curated a bouquet of exciting perks and rewards ranging from all-expense paid spa treatments to cash prizes, irresistible investment options, business advisory services and more, further reinforcing the Bank’s role as the organisation that is committed to supporting businesses and creating an enabling environment for them to thrive.”

Provided by SyndiGate Media Inc. ( Syndigate.info ).