Keystone Bank partners LCCI on business consultancy for MSMEs

Keystone Bank Limited, a technology and service driven bank, has said it is partnering with the Lagos Chamber of Commerce and Industry (LCCI) to provide business consultancy services for micro, small and medium scale enterprises (MSMEs) in Lagos State in a bid to help small businesses grow.

Speaking at the launch of the inaugural edition of LCCI’s annual SME Support Centre in Lagos recently, Helen Nwelle, Group Head, MSME & Value Chain Management of Keystone Bank, commended LCCI on the introduction of the programme while also assuring the Chamber of the bank’s steady support.

She noted that, “Keystone Bank is an SME-centric bank focused on delivering tailored MSME value offerings and that has continually spurred our involvement in programmes like these.

“SMEs are the bedrock of our economy and the LCCI SME Support Centre will provide a platform where SMEs can meet seasoned consultants who will offer advisory services in areas of book keeping, capacity building, branding and digital marketing, to enable them to remain competitive in the current business climate.”

Citing SMEDAN’s latest report, Nwelle said, “Ninety nine percent of SMEs are in the micro sector, which means a lot of them are unstructured, making it difficult for them to access finance from banks and other funders. Therefore, this initiative will help empower SMEs with the needed skills for book keeping and cash flow analysis to aid finance readiness.”

According to a statement from the LCCI, the programme has the objective of introducing business consultancy services to MSMEs as part of an effort to boost businesses of entrepreneurs in Lagos State and by extension, the rest of Nigeria. It said this would be achieved through collaboration with external subject matter experts.

“The free clinic is also coming at a time when stakeholders are raising concerns about planned increase in taxes and electricity bills. Therefore, our aim is to ensure that MSMEs get the necessary support through mentorship to stay afloat despite the various challenges.

“Partnering Keystone Bank on this project made the job easier because the bank is one of the financial institutions that believe so much in the growth of MSMEs in Nigeria,” the statement noted.

At the forum, Keystone Bank provided hands-on consultation and support for over 30 participants including bespoke business and financial advisory services, as well as recommendation of business tools and models.

Keystone Bank is a technology and service-driven commercial bank offering convenient and reliable solutions to its customers.