FCMB unveils SheVentures for women-owned SMEs

First City Monument Bank (FCMB) has introduced another value-added initiative called SheVentures for women-owned Small and Medium Scale Enterprises (SMEs). The initiative will provide enhanced support to existing and upcoming women-owned SMEs through access to finance, training and mentoring to boost their business in a sustainable manner. In a statement, the bank explained that SheVentures […]

First City Monument Bank (FCMB) has introduced another value-added initiative called SheVentures for women-owned Small and Medium Scale Enterprises (SMEs).

The initiative will provide enhanced support to existing and upcoming women-owned SMEs through access to finance, training and mentoring to boost their business in a sustainable manner.

In a statement, the bank explained that SheVentures is anchored on a unique selling proposition of ‘’Be You’’, which connotes confidence, independence and the courage required by women to fulfil their aspirations.

This initiative is of the FCMB Women in Business Unit, and was launched recently in Lagos as part of the bank’s activities to celebrate this year’s International Women’s Day with theme ‘Balancing for Better’.

At the ceremony, some women SME operators received loans ranging from N500,000 to N5,000,000.

The Managing Director of FCMB, Mr. Adam Nuru, said the bank strongly believes in the power of entrepreneurship.

He said the contribution of women to economic development cannot be understated, noting that over 30% of businesses owned globally are either female owned or managed as women established businesses, thereby making significant contributions to job creation and economic growth.

SheVentures comes with several cutting-edge features and benefits for women-owned SMEs. One of such is the zero-interest rate for an initial period of three months. In addition, FCMB will organise free training and mentoring programmes for 80 women entrepreneurs every quarter, out of which 40 of them will access the loan.