Polaris Bank has been awarded the “Best in MSME Lending” title at the inaugural MSME Finance Awards 2024. The award, organized by Nairametrics and The Economic Forum, acknowledges the bank’s commitment to supporting Micro, Small, and Medium Enterprises (MSMEs).
The bank’s Managing Director, Kayode Lawal, expressed gratitude for the recognition, highlighting the vital role MSMEs play in driving innovation, creating jobs, and supporting the national economy.
Polaris Bank’s selection was driven by its sustained efforts in delivering accessible finance and promoting MSME growth. The bank has provided tailored solutions to enhance the growth and sustainability of MSMEs, contributing significantly to Nigeria’s economy.
MSMEs account for approximately 48% of Nigeria’s GDP and employ around 80% of the workforce, according to the International Labour Organisation. Recent data shows a 3.5% increase in the sector’s contribution to employment.