THE Chairman and Chief Executive of The Bazaar Limited, a growing player in the retail outlet and food chain business in Nigeria, Mr. Rajesh Mehta, has commended Sterling Bank Plc for its contribution to the economic growth of the country through the provision of adequate capital for its customers across the value chain in all the sectors of the economy.
Mr. Mehta who made this remark at the opening of The Bazaar Retail Store outlet in Ogba at the weekend, indicated that the provision of capital and other advisory services by the bank has boosted the growth of his business.
His words: “Sterling Bank is indeed a bank of choice. We have been banking with the Bank for the past 20 years. We started with one of its legacy institutions- Magnum Trust Bank and we have come this far because of the quality of banking services we enjoy from the bank. Apart from the provision of capital, the advisory services provided by the bank stand out in the industry and its staff are adequately trained to support the business growth of their customers.
According to the Euromonitor International, a leading independent provider of strategic market research globally, Nigeria’s retail business has become more organized in recent years. The huge demand posed by the population of the country has made the country a hotbed for international retailers and investors. It is expected that this trend would be replicated across the various sectors of the economy.
Meanwhile, the Managing Director/Chief Executive Officer, Bazaar Limited, the bank in a statement at the weekend assured that it will continue to support the growth of both new and existing businesses in various sectors of the economy. The Bank committed to doing this by providing adequate working capital which it described as the life blood and nerve centre of any business. “No business can run successfully without sufficient working capital”, the statement noted.
In the area of financial advisory and capacity building for SMEs, the bank stated that it is already equipping the operators in the MSME segment with the right skills to effectively manage their businesses for success. “Last year, we organised the first MSME Academy which was well attended by operators in this segment to equip them with the right skills and minds set to effectively manage their businesses for success. In response to the positive feedback and customers’ request, we are expanding the Academy to more locations across the country.”