ProvidusUnity Bank urges SMEs to build system-driven structures

Stakeholders at the ProvidusUnity Bank session during the Go Local 2.0 Summit held recently in Lagos. Photo: ProvidusUnity

Nigerian financial institution, ProvidusUnity Bank, has reaffirmed its commitment to empowering small and medium-sized enterprises and driving national economic expansion through a strategic partnership with BusinessDay Media on the second edition of the Go Local Summit, themed “From Market Power to Market Systems.”

The gathering brought together manufacturers, corporate leaders, policymakers, and industry stakeholders to deliberate on strategies for bolstering domestic production, enhancing competitiveness, and establishing sustainable commercial enterprises.

The summit also featured exhibitions highlighting locally manufactured goods alongside interactive panel sessions focused on the future of Nigerian enterprise.

Speaking on behalf of the bank at the event, the Head of Strategy, Ernest Elue, underscored the imperative for business owners to transition from founder-dependent operations toward system-driven structures capable of achieving long-term viability and operational scalability.

“It is important for us as stakeholders to support the ecosystem. A business must move from being person-dependent to system-driven. Do you have systems and structures that speak to viability? It is about building financial structures that ensure corporate governance. That architecture is required to multiply revenue and grow in line with customer demand,” Elue stated during a fireside chat session.

Addressing the broader dynamics of corporate financing, he noted that sustainable enterprise expansion requires funding frameworks that align directly with long-term commercial goals, pointing out systemic mismatches within current market offerings.

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“One of the biggest challenges within the current financing architecture is asset-liability mismatch. Businesses often require long-term funding, while the available financing is largely short-term, creating significant liquidity pressure. Businesses must therefore structure their financing with scalability in mind,” he explained.

Elue further emphasised that investment readiness and credit accessibility hinge largely on internal financial discipline and operational transparency.

“What financial institutions look for is visibility of cash flow supported by reliable financial records. This reflects strong systems, sound corporate governance, and strategic planning, all of which are essential for growth,” he added.

He noted that the institution remains intentional in its effort to deepen support across the SME value chain as a pillar of its overall contribution to Nigeria’s macroeconomic stability.

“Our ambition is to be the number one SME bank because we believe supporting SMEs is one of the most effective ways to drive economic growth. We pursue this through a four-pronged approach: access to finance, access to capacity building, access to markets, and access to products and services,” Elue remarked.

The summit builds upon the foundation of ProvidusUnity Bank’s dedicated SME Programme, which has built capacity for over 500 small businesses over the past six years, highlighting the institution’s commitment to fostering resilient enterprises and sustainable national development.