Polaris Bank, in a resolute commitment to empowering Small and Medium-sized Enterprises (SMEs), proudly announces a strategic partnership with Export and Sell (EAS), a renowned expert in export solutions. This collaboration aims to provide training and funding to over 1,000 successful SMEs, equipping them with the skills and resources to explore export opportunities to the USA, Europe, and other international markets.
Polaris Bank is harnessing EAS’s expertise as a bridge between online platforms in the US, UK, and Nigerian businesses, facilitating the export of raw foodstuffs and various items from Nigeria. According to the statement the strategic initiatives focused primarily on e-commerce sales via Amazon, the training program offers comprehensive insights to Nigerian SMEs on export prospects and market expansion in the United States.
The statement further noted that SMEs will receive guidance on identifying buyers and meeting export requirements, particularly for the US market.Scheduled to commence on October 3, 2023, this hybrid training program will incorporate in-person sessions held in Port Harcourt, Abuja, and Lagos. Subsequently, intensive four-day sessions will benefit over 1,000 successful SMEs, many of whom could access financial facilities of up to ₦20 million for SMEs and ₦1 billion for large corporations.
“This partnership aspires to empower SMEs with the knowledge and tools needed for successful product exportation.In the current global landscape, SMEs grapple with unique challenges, including securing financing, handling shipping logistics, product registration, and identifying buyers. Polaris Bank acknowledges the pivotal role SMEs play as the backbone of Nigeria’s economy.
“Through the collaboration with EAS, Polaris Bank takes significant strides towards fulfilling its commitment to SME growth and development in Nigeria.This partnership and training program will furnish SMEs with a comprehensive understanding of onboarding on Amazon and achieving successful exports to the USA.
“It will also shed light on export credit insurance and risk mitigation strategies. Participants will gain insights into available funding opportunities provided by Polaris Bank and learn how to leverage them effectively.Industry experts from both Polaris Bank and EAS will lead the training sessions, ensuring participants receive top-tier education and guidance.
Adebimpe Ihekuna, Group Head, Products & Market Development at Polaris Bank, expressed her enthusiasm for the partnership and the Export and Sell Business Model. She stated,
“At Polaris Bank, we comprehend the pivotal role SMEs play in propelling economic growth. Through our collaboration with EAS, we aspire to empower SMEs with the knowledge and tools necessary to access export financing opportunities and compete effectively on the global stage,. This partnership underscores Polaris Bank’s commitment to SME development and Nigeria’s economic prosperity.”
“A BusinessDay news article from March 23, 2023, citing the Nigerian Bureau of Statistics (NBS), revealed that agricultural produce worth a total of N598.2 billion were exported in 2022, marking an 18.5 percent increase compared to the previous year.
Polaris Bank’s accolades include being named the Digital Bank of the Year in 2021 and 2022 at the Business Day’s Banks and Other Financial Institutions (BAFI) Awards. It has also been recognized as the best MSME Bank for its ability to leverage technology to support the MSME sector from the ground up.