Diamond Bank advices SMEs on financial discipline


By Nkasiobi Oluikpe



Diamond Bank has called on Micro, Small and Medium-scale Entrepreneurs (MSME) to embrace the old fashioned method of corporate planning and financial discipline.

The call was made during the BusinessXpress seminar organised by the bank to train and broaden the management skills of operators of MSMEs at Onitsha, Anambra State.

Raymond Mbonu, Diamond Bank business manager, Bridge Head, Onitsha, stated that the bank’s commitment, drive and passion to fund the MSME sector is a result of its conviction that MSMEs hold the economic key for growing the national economy and reducing unemployment.

“Diamond Bank’s commitment to the MSME sector is motivated by the fact that a nation with a thriving MSME sector will grow to become self-sufficient with sufficient employment opportunities for the citizenry. This is why we are investing in the sector and we will continually support them and help them grow into viable multinational ventures,” he said.

The chairman of Prollo Pipes and Profile Industries Limited, Emmanuel Eziokwu also stressed on the need for proper business planning.  He noted that many small businesses do not plan, that is why they are adversely affected in times of economic crunch, pointing out that the two major traits common with MSMEs are diversion of funds and overspending.

Uche Apakama, CEO of Paxs Pharmaceuticals Limited, also remarked that the ripple effect of the business training of MSME operators in Anambra State by Diamond Bank has significantly enhanced many businesses in Onitsha and will continue to positively impact the upcoming ones.

Source : Independent

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