GTBank Launches SME Market Hub

GTBank plc said it has launched “The SME Market Hub,” an e-commerce portal for Small and Medium Scale Enterprises (SMEs).

The bank said the e-commerce and business directory portal is part of its strategy to empower and support Nigerian SMEs and also contribute to the growth and development of the Nigerian economy.

The portal, it stated, is designed to enable Nigerian entrepreneurs migrate their businesses online and take advantage of the vast international and local sales opportunities within this space, noting that SME owners will also have access to a wide variety of business tools that will enhance profitability as well as a community that will allow them forge relationships with other business owners.

Commenting on the innovation, Segun Agbaje, Bank’s chief executive officer said: “There is no getting away from the fact that economic conditions remain challenging for Small and Medium Scale Enterprises, SMEs in Nigeria.

“It is however vital that this integral sector of the economy gets all the support it needs to drive growth and development. E-commerce is widely acknowledged as a powerful tool for fully enhancing business possibilities as it opens up a world of businesses to customers and a world of customers to businesses.

“The speed, efficiency and convenience with which transactions can be completed are distinct advantages that e-commerce has over traditional means of transacting business. With the introduction of the SME Market Hub, GTBank has provided SMEs an E-commerce platform that allows small and medium business owners create and maintain an online presence and expand their business frontiers to new markets and millions of buyers that are online.”

Agbaje noted that Guaranty Trust Bank plc has been at the forefront of industry innovations within the Nigerian financial services sector, noting that some of the innovations include the introduction of the GTBank social banking; which allows GTBank Social Account holders transfer money, purchase airtime, pay bills, and confirm their account balances on Facebook as well as the introduction of a ‘Fast Track’ banking system that allows its customers deposit and withdraw money within its branches using their debit cards.