30 SMEs get N90m in Diamond Bank’s BET seasons
Small and Medium Enterprises (MSMEs) numbering up to 30 have benefitted in the Diamond Bank’s Building Entrepreneurs Today (BET) initiative, which over the weekend produced new set of five entrepreneurs with three million naira each as startup up capital, joining 25 successful business owners in the previous seasons of the programme, with total sum of N90million in its sixth edition of the programme.
Each edition of the BET sees five budding MSME operators who have showed exceptional entrepreneurial skills and productive business ideas, going home with three million each.
The lender said that with its renewed confidence in the Nigerian economy through its continual support to the MSMEs, would ensure sustainable economic growth.
Each of the five BET winners, spread across different sectors of the economy and the six geopolitical zones, received N3 million to invest into their respective businesses. These financial injections into their businesses by the Bank, is expected to help strengthen manpower, expand the product lines and create increased service and product values that would make the MSMEs competitive.
According to its Managing Director/CEO, Mr.UzomaDozie, Diamond Bank is very passionate about building these entrepreneurs because of the conviction that sustainable growth and development of any modern economy is hinged on a vibrant MSME sector.
Dozie disclosed this at the cheque presentation ceremony held in Lagos, over the weekend that because of the economic headwinds, young entrepreneurs need all the support and mentorship that they could get to enable them stand firm and add the necessary value to the economy.
His words: “We had over 500,000 applications and after several screenings, were pruned to the final 15; this is just to show how creative Nigerians are. We decided to support small businesses because we know how difficult the business environment is, and it is the only way we can guarantee sustainable economic growth and development in this country.”
Speaking further, Dozie noted that each year, the BET programme has become more and more exciting with diverse innovative ideas emerging, stressing that the business environment in Nigeria was a tough one and needed lots of commitment and support for one to succeed.
Although, the previous BET 4 edition focused on three sectors of the economy, the Season 6 expanded the sectors with the addition of fashion, agriculture, information and communications technology and renewable energy. In this BET Season 5, UchechiArinze, FolarinyoAbiodun, AyodejiAgboola, EmmauelOkiedesan and Hauwa Bello emerged the winners.
Reiterating Dozie, Peter Bankole, Director, Enterprise Development Center, stated that it was another milestone that has been attained by the Bank because it means a new set of five winners will be joining the other 20 winners, not forgetting the 50 entrepreneurs who were engaged in six months of intensive training.
“A lot of banks screamed about supporting small businesses but none plays like the way Diamond Bank does. And BET is one of the many ways they ensure they support small businesses and that goes a long way in helping these entrepreneurs achieve their goals,” Bankole stated.
The BET, which started over six years ago, is a collaboration between Diamond Bank and the Enterprise Development Centre of the Pan Atlantic University.
With the BET initiative, every year, the Bank trains 50 entrepreneurs in a six months development programme at the Pan Atlantic University and gives investment grants to the 5 most outstanding with a strong mentorship programme within the business year.
