First Bank joins global SME funding forum

First Bank of Nigeria Limited has joined the SME Finance Forum with 200 members worldwide.

In the statement, the bank said the SME Finance Forum was started in 2012 by the G20 Global Partnership for Financial Inclusion (GPFI) and managed by the International Finance Corporation (IFC).

• Insurgents attack Borno town, perform adhan
• Katsina school bandits’ invasion: How we spent night inside bush – Student

It comprises financing experts from over 80 countries who work to expand access to finance to small businesses, through knowledge exchange and innovation.

Matthew Gamser, CEO of the SME Finance Forum said: “40 per cent of small and medium businesses worldwide struggle to get access to the credit and capital that they need to grow their enterprises. We are delighted to welcome FirstBank to our network of 200 members who are working to eliminate the finance gap for SMEs.”

The Deputy Managing Director, FirstBank, Mr Gbenga F. Shobo, said: “Without a doubt, outliving the pandemic is the responsibility of everyone.”

FirstBank has been nimble at promoting a digital economy in Africa and has issued over 10 million cards.

The institution’s financial inclusion and cashless transaction drive have resulted in over 228m users on its USSD banking service through its banking service and over 4.1m users on Firstmobile platform, its digital banking application.