Unity Bank Plc has introduced a new business friendly account tagged: Unity Biz Account, which is aimed at supporting Micro, Small and Medium Enterprises (MSMEs) in Nigeria.
Explaining the rationale behind the initiative, the bank said the Nigerian MSME community is a key market focus for the Bank as it provides the platform that will enable it tap into the business opportunities in the segment which has been identified as being the fulcrum of economic growth in the country.
“The value proposition embedded in the UnityBiz current account lies in the fact that structured businesses in the SME space are able to access both the asset and liability side of the product at concessionary rates, which benchmark the best pricing offered in the industry,” the bank said in a statement.
The MSME target market includes Retailers, Social Services, Schools, Contractors, Professional Service firms, Wholesalers, Manufacturers, Hospitality, NGOs, Clubs and Associations, Suppliers and the Agri-business value chain. The purpose is to offer the MSME product that offers unbeatable value.
The bank also has UnityBIZ current account, which is bundled with the Business Debit Card; a Verve- card that allows a maximum of five cards per MSME such that each card can be programmed with separate transaction dynamics.
“Unity Bank also offers SMEs financial advisory services as well as a free quarterly counseling and networking sessions to guide businesses that subscribe to the Unity Biz scheme,” the said.
The common believe is that Micro, Small and Medium-sized Enterprises, manufacturing, retail as well as wholesale segments of the market stand to benefit from the Unity-Biz product.