Access Bank launches SME Academy in Lagos
Access Bank has introduced the SME Academy in Nigeria, a training program aimed at reducing the country’s elevated failure rate among small businesses by providing entrepreneurs with critical skills and resources needed for long-term success. The Lagos launch follows a successful pilot in Ghana that produced measurable gains in small enterprise performance, according to Olumide Olatunji, who heads retail banking at the institution.
The inaugural session will accommodate 80 established business owners through a three-day intensive curriculum focused on strengthening organizational frameworks, enhancing financial preparedness, and improving survival odds in a sector where many companies fold within five years. Abiodun Olubitan, who oversees small and medium enterprise banking for the group, emphasized that insufficient capital and limited capacity represent primary causes of business collapse, gaps the academy seeks to address through immediately applicable practical tools.
While the program does not include grant funding, the bank plans to extend financing opportunities to participants who demonstrate solid business capacity and creditworthiness after completing the training. The academy will operate multiple times annually, eventually serving as a channel for ongoing mentorship and support.
