Wema Bank Plc has completed the second edition of its Wema Export Trade Academy in Lagos, training over 500 business owners, exporters, and trade professionals on strategies for accessing international markets. The two-day program focused on practical aspects of exporting, including identifying viable opportunities, meeting international buyer requirements, managing documentation, complying with regulations, accessing finance, logistics, and managing trade-related risks.
The academy brought together business owners, exporters, commodity aggregators, trade associations, and regulatory professionals to build their capacity to participate effectively in international trade. Participants received guidance from international trade experts and representatives of key regulatory institutions, including the Central Bank of Nigeria, Nigerian Export Promotion Council, Nigeria Customs Service, Nigerian Ports Authority, and National Agency for Food and Drug Administration and Control.
The Deputy Managing Director of Wema Bank, Oluwole Ajimisinmi, emphasized that Nigerian businesses require access to knowledge, finance, and market connections to fully realize their potential in international trade. He stated that the academy was designed to bring these elements together by helping businesses understand the export ecosystem, connect with relevant stakeholders, and develop the capacity needed to compete sustainably in global markets.
A Deputy Director at NAFDAC, Oluseyi Sanyaolu, stressed the importance of regulatory compliance and quality standards for Nigerian businesses seeking to export their products. She commended the initiative for helping to close information gaps around regulatory requirements and providing businesses with practical guidance on meeting international standards.
Participants highlighted the value of the training in helping them assess their businesses against global requirements. Dele Badejo, one of the participants, described the program as a significant step for local importers seeking to diversify into non-oil exports. The training equipped businesses with the knowledge and skills needed to navigate the complexities of international trade.
The Divisional Executive at Wema Bank, Tajudeen Bakare, assured that the bank's relationship with participating businesses would extend beyond the academy. He stated that Wema Bank intends to provide tailored financial and non-financial support to businesses as they progress through different stages of growth, ensuring they have the necessary resources to succeed in international markets.
The initiative forms part of Wema Bank's broader SME development strategy, which seeks to combine banking services with capacity building and market access support to strengthen Nigerian businesses and improve their ability to compete in international markets. This effort aims to enhance the competitiveness of Nigerian businesses globally and contribute to the country's economic growth.
Key points
- Wema Bank trains over 500 Nigerian businesses on export and global trade strategies through its Wema Export Trade Academy.
- The training program covers practical aspects of exporting, including documentation, compliance, financing, logistics, and risk management.
- Wema Bank pledges continued support to participating businesses, offering tailored financial and non-financial assistance to help them grow and compete in international markets.
