Polaris Depot has been recognised as Nigeria’s eminent deposit in lending to Micro, Petite, and Medium Enterprises on the inaugural MSME Finance Awards 2024.
The award used to be arranged by way of Nairametrics and The Financial Discussion board.
The rite, held on the Civic Centre, Victoria Island, Lagos, noticed Polaris Depot clinching the identify of ‘Best in MSME Lending’ within the banking sector.
“The award recognised Polaris Bank’s longstanding commitments to supporting MSMEs through several direct and indirect funding channels,” a press let fall from the deposit noticeable on Wednesday learn.
The knowledgeable judges mentioned the deposit’s variety used to be pushed by way of its sustained efforts in handing over available finance and selling the expansion of MSMEs, that are crucial to Nigeria’s economic system.
In his acceptance pronunciation, the Managing Director of the deposit, Kayode Lawal, expressed gratitude for the popularity.
He emphasized the necessary position MSMEs play games in riding innovation, developing jobs, and supporting the nationwide economic system.
Lawal mentioned, “We are honoured to receive this prestigious award, recognising our commitment to empowering Nigerian MSMEs. Micro, small, and medium businesses are pivotal to national economic growth, and we are glad that our dedication to providing accessible financing has made a tangible impact on these vital businesses.”
He additional counseled Nairametrics and The Financial Discussion board for acknowledging the deposit’s contributions and reaffirmed Polaris Depot’s constancy to offering adapted answers that give a boost to the expansion and sustainability of MSMEs.
The MSME sector is broadly considered the spine of Nigeria’s economic system, contributing roughly 48% to the society’s GDP and using round 80% of the staff, in line with the Global Labour Organisation
Contemporary knowledge additionally displays a three.5% build up within the sector’s contribution to act within the nation.