Zedvance to Triple Lending with N500bn for SMEs

Zedvance, under the leadership of Group Managing Director Adedayo Amzat, announced a strategic shift to focus its entire loan portfolio on small and medium enterprises (SMEs) in Nigeria. This decision follows the disbursement of N120 billion to SMEs, addressing the financial constraints faced by mid-market enterprises in the country.

During a business roundtable themed "Unlocking Growth: The Role of Smart Finance in Building Resilient Businesses," Amzat emphasized the importance of SMEs as key drivers of Nigeria's economy. He noted that many entrepreneurs struggle to access adequate financing to execute projects.

Zedvance plans to deploy N500 billion over the next 18 months to deepen support for growth-ready enterprises, enabling them to scale products and hire more individuals. Ayooluwa Oladimeji, Executive Director of Commercial Solutions at Zedvance, highlighted the macroeconomic impact of this initiative, which aims to multiply benefits across the economy compared to individual consumer loans.