Keystone Bank restates support for SMEs with GrowBiz Account

In line with the Federal Government’s recent drive to support growth of Small and Medium Enterprises (SMEs), Keystone Bank Nigeria Limited has said it remains committed to supporting the development of SMEs in Nigeria.
Acting Managing Director of the bank, Mr. Hafiz Bakare, who stated this in Lagos, noted the importance of SMEs to the growth of the economy, stating that Nigeria’s current employment rate could be bolstered if SMEs are provided with a conducive ecosystem to thrive. This, he said, is not only the responsibility of the government but for the private sector too.
He said: “While the government is making efforts to improve the ease of doing business in Nigeria, financial institutions have a significant role to play in supporting SMEs and this is why Keystone Bank is repositioning its GrowBiz Account to create financial options for businesses.”
Bakare pointed out the importance of SMEs to the development of the nation’s economy, noting that they provide a means of employment generation, improvement of local technology, output diversification, development of indigenous entrepreneurship and forward integration with larger-scale industries.
He said: “Today in Nigeria, many factors have contributed to the underperformance of micro enterprises and their contributions to economic growth. We at Keystone Bank seek to help bridge the gap by not only providing finance, but by offering financial advisory services and relevant platforms to assist in business growth.”
Keystone Bank has been at the forefront of supporting micro enterprises as it drives economic growth from the grassroots of the society.
Recently, the bank, in conjunction with the Enugu State Ministry of Commerce and Industry, provided support to Micro, Small and Medium Enterprises (MSMEs) within the state as part of an ongoing government initiative.
GrowBiz Account is designed to meet the needs of business owners and organisations, sole proprietors, partnerships and limited liability companies. The product is available in two variants: GrowBiz Gold Account (with minimum balance) and GrowBiz Classic Account (without minimum balance). Each variant is broken down into three segments – individuals, SMEs/traders and corporates.