In the bid to stimulate the growth of the economy, Nigeria’s leading retail bank, Access bank plc has launched TraderLite, an account that enables micro-businesses, with turnover between N50, 000 – N1Million, operate their businesses with their individual name or registered business name.
Speaking at the launch of the new product, Victor Etuokwu, Executive Director, Retail Banking, Access bank plc, told newsmen that the bank looks at its customers beyond being just customers but also as partners. In his words, “The future of Nigeria’s economy is Small and Medium-Scale Enterprises because they can provide more than enough jobs to the unemployed if empowered. And that is why the bank’s passion is to offer more than financial services to its customers and also work with them in growing and expanding their businesses. Whichever category you fall into; we are here to work with you to take your business to a whole new level”.
TraderLite, a variant of the Diamond Business Advantage account within the Bank’s emerging business portfolio, is specially designed for micro-businesses with the aim of providing financial inclusion for businesses in that segment while equipping them with the required skills to grow their businesses.
The product has two variants namely: DBA TraderLite Individual, which is for individuals with unregistered businesses and DBA TraderLite Business, for registered businesses.
The Diamond Business Advantage proposition from Access bank has been designed to add value to Micro, Small and Medium-scale business owners so that they can grow their businesses with smart banking. The proposition provides SME’s market linkages, increased referral base, and networks that enable them to scale the hurdles of accessing new markets for their products.
Networking sessions such as Business Clubs, Business clinics, and Business seminars enable MSME customers to expand their referral base by interacting with other MSMEs.