In a bid to stimulate economic growth, Access Bank Plc, Nigeria’s leading retail bank has launched TraderLite, an account that enables micro-businesses, with turnover between N50,000 and N1million, operate the businesses with their individual name or registered business name.
Traderlite, a variant of the Diamond Business Advantage account within the Bank’s emerging businesses portfolio, is specially designed for micro businesses with the aim of providing financial inclusion for businesses in that segment while equipping them with the required skills to grow their businesses. The product has two variants namely: DBA TraderLite Individual, which is for an individual with unregistered businesses and DBA TraderLite Business for registered businesses.
The diamond business advantage proposition from Access Bank has been designed to add value to Micro, Small and Medium scale business owners so they can grow their businesses with smart banking. The proposition provides SME’s market linkages, increased referral base and network that enable them scale the hurdles of accessing new markets for their products. Networking sessions such as business clubs, business clinics, and business seminars enable MSME customers expand their referral base through interacting with other MSMEs.
Speaking at the launch of the new product, Executive director, Retail banking Victor Etuokwu, said the bank looks at its customers beyond being just customers but also as partners. The future of the Nigerian economy is small and Medium-Scale Enterprises because they can provide more than enough jobs for the unemployed if empowered.
That is why the banks passion is to offer more than financial services to its customers and work with them in growing and expanding their businesses. “Whatever category you fall into, we are here to work with you to take your business to the next level”, he said.