ProvidusUnity Bank Targets Stronger SME Growth Through Systems, Finance

LAGOS, 18.09.26: ProvidusUnity Bank has reaffirmed its commitment to supporting the growth of small and medium-sized enterprises (SMEs) and contributing to Nigeria’s economic development through its partnership with BusinessDay Media at the second edition of the Go Local Summit.

The summit, themed “From Market Power to Market Systems,” brought together manufacturers, business leaders, policymakers and other stakeholders to deliberate on strategies for strengthening local production, improving competitiveness and building sustainable enterprises.

The event also featured exhibitions of locally manufactured products and discussions on the opportunities and challenges shaping the future of Nigerian businesses.

Speaking on behalf of ProvidusUnity Bank, the Head of Strategy, Ernest Elue, stressed the need for businesses to transition from founder-dependent operations to structured, system-driven enterprises capable of achieving sustainable growth and scalability.

Elue, who spoke during a fireside chat, said, “It is important for us as a stakeholder to support the ecosystem. A business must move from being person-dependent to system-driven. Do you have systems and structures that speak to viability?

“It is about building financial structures that ensure corporate governance. That architecture is required to multiply revenue and grow in line with customer demand.”

On access to finance, he identified asset-liability mismatch as one of the major challenges confronting businesses seeking to expand.

According to him, while many businesses require long-term financing to support expansion, much of the available funding remains short-term, thereby creating liquidity pressures.

“One of the biggest challenges within the current financing architecture is asset-liability mismatch. Businesses often require long-term funding, while the available financing is largely short-term, creating significant liquidity pressure.

“Businesses must therefore structure their financing with scalability in mind,” he said.

Elue also emphasised the importance of financial records and cash-flow visibility in determining a business’s readiness to attract investment and access credit.

“What financial institutions look for is visibility of cash flow supported by reliable financial records. This reflects strong systems, sound corporate governance and strategic planning, all of which are essential for growth,” he added.

He said ProvidusUnity Bank was deliberate about deepening its impact within Nigeria’s SME ecosystem as part of its broader contribution to national economic development.

“Our ambition is to be the number one SME bank because we believe supporting SMEs is one of the most effective ways to drive economic growth.

“We pursue this through a four-pronged approach: access to finance, access to capacity building, access to markets, and access to products and services,” Elue stated.

The Go Local 2.0 Summit builds on ProvidusUnity Bank’s SME Programme, which the bank said has supported the capacity development of more than 500 SMEs over the past six years.

The initiative underscores the bank’s continued focus on strengthening businesses, improving their resilience and supporting the development of a more sustainable Nigerian economy.