Jaiz Bank Plc, Nigeria’s pioneer non-interest bank, has been appointed to manage the GROW Fund, a strategic financing initiative aimed at expanding access to affordable capital for 6,122 Micro, Small and Medium Enterprises (MSMEs) nationwide.
The appointment was announced by the Small and Medium Enterprises Development Agency of Nigeria during the official launch of the scheme for entrepreneurs who successfully completed the Inspire, Create, Start and Scale (ICSS) training programme.
Designed to offer single-digit interest loans and asset financing, the GROW Fund seeks to bridge the long-standing gap between enterprise training and access to finance, enabling entrepreneurs to translate acquired skills into scalable and sustainable businesses.
Speaking at the unveiling ceremony in Abuja, Jaiz Bank’s Managing Director, Haruna Musa, described the initiative as a powerful catalyst for innovation, job creation, and sustainable economic growth. He emphasised that the Fund represents more than a financial intervention, noting that it symbolises a renewed commitment by Jaiz Bank and its partners to drive inclusive prosperity.
“At Jaiz Bank, we firmly believe that sustainable economic growth must be inclusive. Empowering small businesses remains central to our non-interest banking model,” he stated.
In his remarks, the Director General of SMEDAN, Charles Odii, highlighted that the initiative marks a transition from routine training programmes to a more structured support framework that directly links capacity building with access to financing.
He further disclosed that other partners in the scheme include the German Agency for International Cooperation, Kaduna Business School, and GOPA Worldwide Consultants.
Meanwhile, the Bank reaffirmed its support for President Bola Tinubu’s $1 trillion economy agenda, aimed at driving inclusive growth through ethical, non-interest banking and increased financing for MSMEs.
This position was reiterated at the Annual General Meeting of the Financial Institutions Correspondents Association of Nigeria, where the Group Head, Corporate Communication, Halima Ishaq, represented the Managing Director/Chief Executive Officer.
According to the Bank, its strategic focus on MSMEs, financial inclusion, and real sector development aligns with the Federal Government’s ambition of building a $1 trillion economy by expanding productive capacity and empowering small businesses. Jaiz Bank also urged members of the association to ensure compliance with its current corporate brand identity, noting that the continued use of its old logo in some media reports constitutes brand misrepresentation.
Article received on Mail
