Small and medium enterprises across Africa continue to drive economic growth and innovation despite facing significant challenges; thereby requiring the support of financial institutions in developing tailored approaches to address the unique needs of entrepreneurs at various stages of growth.

Standard Bank, the parent company of Stanbic IBTC Bank, has positioned 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’.

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” said Remy Osuagwu, Executive Director, Business and Commercial Banking at Stanbic IBTC Bank.

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.

Looking ahead, Stanbic IBTC Bank will continue to focus on expanding financial inclusion for under–served entrepreneurs and developing AI-powered business insights to help SMEs make informed decisions in an increasingly competitive landscape.

For more information about the bank’s SME products and services, visit https://www.stanbicibtcbank.com/nigeriabank/business.