Polaris Bank promotes SMEs, sponsors ‘The Fashion Souk’




Polaris Bank has reaffirmed its commitment to support the growth of Small and Medium Enterprises (SMEs) in Nigeria.

The Bank in a statement said it is planning to sponsor The Fashion Souk 7.0., noting that three successful entrepreneurs who emerge winners in a business pitch at the event will go home with N1million, N500,000 and N250,000 for the overall winner, first runner-up and second runner-up respectively.

The two-day event, organised in partnership with EVENTFUL Limited held over the weekend at the Harbour Point, Victoria Island, Lagos.

Speaking on behalf of Polaris Bank, the Group Head, Strategic Brand Management, Nduneche Ezurike, said fashion and style enthusiasts can once again look forward to experiencing unparalleled fashion moments from Nigerian entrepreneurs.

Ezurike said “As a SMEs-friendly Bank, it is always our delight to explore opportunities to grow Nigeria’s Small and Medium Enterprises. Polaris Bank’s lead sponsorship of the 7th edition of The Fashion Souk, underscores our acknowledgment of the SMEs as the catalyst for Nigerian’s economic growth.”

He pointed out that Polaris Bank’s continued partnership with EVENTFUL Limited stimulates the entrepreneurial spirit of many Nigerians, especially the new-age innovators in the key sectors of the national economy. He commended Eventful Ltd for visibly showcasing the enterprise amongst Nigerians.

More than 160 SMEs in Nigeria’s fashion industry, ranging from manufacturers to designers and retailers in clothing, kids fashion, textiles, jewelry, accessories, hats, bags, shoes and lingerie, are billed to showcase their creativity and product lines at the Fashion Souk.

According to December 2021 industry report, the Sub-Saharan African fashion market is worth $31 billion, with Nigeria holding an expanding share of 15 percent.
In line with its SME focus, Polaris Bank has partnered with and supported businesses in critical sectors of the Nigerian economy, including health, education, manufacturing, agriculture, export, and others.

The Bank has advanced credits and indeed, provided close to N70billions to Micro, Small, and Medium Enterprise (MSMEs) from January 2021 till date.

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