First City Monument Bank (FCMB), a leading financial institution in Nigeria, has demonstrated a steadfast commitment to empowering small and medium-sized enterprises (SMEs) through its comprehensive Business Empowerment Sustainability and Training (BEST) masterclass program. Since 2018, this nationwide initiative has equipped over 44,000 entrepreneurs with the essential skills and knowledge necessary to scale their businesses, fostering long-term sustainability and contributing significantly to the growth of the Nigerian economy. FCMB’s dedication to SME development extends beyond financial support, encompassing a holistic approach that provides entrepreneurs with both financial and non-financial resources, including targeted programs for women-owned businesses. This multifaceted strategy underscores FCMB’s recognition of SMEs as a critical engine for economic growth and job creation in Nigeria.
The BEST masterclass program represents a strategic investment in the future of Nigerian entrepreneurship. By providing participants with access to expert-led training, networking opportunities, and mentorship, FCMB is actively cultivating a thriving entrepreneurial ecosystem. The program addresses critical skill gaps, empowering business owners to navigate the complexities of the modern marketplace, optimize their operations, and implement sustainable business practices. Furthermore, the program’s focus on financial literacy equips entrepreneurs with the financial acumen necessary to make informed decisions, manage their finances effectively, and secure access to capital. This comprehensive approach not only strengthens individual businesses but also contributes to the overall health and resilience of the Nigerian economy.
FCMB’s leadership recognizes the transformative potential of entrepreneurship in driving economic progress. Yemisi Edun, Managing Director of FCMB, emphasizes the bank’s commitment to building sustainable business success by addressing entrepreneurial gaps and fostering innovation, growth, and competitiveness. This commitment aligns with the national imperative to strengthen the private sector and drive economic development. George Ogbonnaya, Divisional Head and Senior Vice President of Business Banking at FCMB, highlights the strategic importance of the BEST masterclass in empowering SMEs to excel in a dynamic market. By bridging capacity gaps and providing access to tailored financial solutions, FCMB is actively supporting the growth and prosperity of entrepreneurs across various regions of Nigeria.
The BEST masterclass curriculum is designed to provide participants with a comprehensive understanding of key business management principles and practices. The program covers a range of topics, including financial literacy, digital marketing, operational optimization, sustainable business practices, and strategic planning. Through interactive workshops and sessions facilitated by seasoned industry experts and accomplished business leaders, participants gain valuable insights and practical skills that can be immediately applied to their businesses. The program also emphasizes the importance of networking and mentorship, providing participants with opportunities to connect with peers, learn from experienced entrepreneurs, and build valuable relationships.
The nationwide reach of the BEST masterclass program underscores FCMB’s commitment to supporting entrepreneurs across diverse regions of Nigeria. Having already impacted businesses in the Southeast, South-South, and parts of Northern Nigeria, the program continues to expand its reach, with upcoming sessions planned for Ogun, Oyo, Kwara, Osun, and Ondo States. This geographic expansion ensures that entrepreneurs from various regions have access to the valuable resources and training provided by the program, further contributing to the development of a more inclusive and dynamic entrepreneurial landscape across the country. The program’s consistent delivery across diverse regions highlights its adaptability and responsiveness to the specific needs of entrepreneurs in different contexts.
The impact of FCMB’s BEST masterclass program extends beyond individual businesses, contributing to the broader economic development of Nigeria. By equipping entrepreneurs with the skills and knowledge necessary to succeed, the program fosters innovation, creates jobs, and strengthens local economies. The program’s focus on sustainable business practices also promotes responsible entrepreneurship, encouraging businesses to operate in a manner that is both economically viable and environmentally sustainable. This commitment to sustainability aligns with global trends and contributes to the long-term well-being of Nigerian communities. Furthermore, the program’s emphasis on financial literacy empowers entrepreneurs to make sound financial decisions, contributing to the overall financial stability and resilience of the Nigerian economy.
