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Nnewi Manufacturers Laud Diamond Bank for Industrial Development Support

Manufacturers in Nnewi, Anambra State of south eastern Nigeria, have lauded Diamond Bank Plc for its continued support to manufacturers and for the strong commitment in promoting industrial growth and development in the country.

Popularly known as the “Japan of Africa,” Nnewi is a reputed industrial hub and boasts the presence of many indigenous manufacturing companies.

Welcoming participants to the 46th BusinessXpress Seminar organized by the bank in Nnewi, Ikenna Nwabunwa, Regional Manager, Anambra Region, Diamond Bank Plc, said the BusinessXpress Seminar is driven by the bank’s commitment to promote capacity building and growth within the country’s Micro, Small and Medium Enterprises (MSME) sub-sector.

He said: “At Diamond Bank, we recognize that MSMEs are the engine room for economic growth. This informs our strategic investments to promote the sustainability of the sector. From our many years of experience relating with businesses in this highly competitive segment, we also realize that many MSMEs have sufficient funds to manage their operations but often do not know how to effectively maximize them. This is why Diamond Bank has taken the initiative to provide these monthly seminars so business owners can learn how to boost their production capacity and organize their businesses better.”

Chief Innocent Chukwuma, OFR, Chairman, Innoson Vehicle Manufacturing Company Limited, who was the keynote speaker at the event, charged the manufacturers to always approach all business dealings with integrity. He noted that integrity was especially needful in following through with business objectives and in relationship with creditors and staff.

Speaking on integrity to staff, which he claimed was becoming a challenge among small businesses, Chukwuma cautioned that it was pointless having an over bloated workforce while struggling to keep the business afloat or meet up with responsibilities to staff.

According to him, “there is still a lot of untapped potential in Nigeria. Manufacturers should be discerning and patiently grow their business in phases. Each phase will determine the human resource required to help the company meet its current needs and project it to the next level.”

Chief Ajulu Uzodike, Founder/Director, Cutix Plc, called for synergy among manufacturers to restore technical education to its pride of place in the national educational system. He said, “Manpower development for the manufacturing industry will be improved when companies partner to build a technical institution where people can be properly trained. Organizations need synergy to achieve industrialization.”

A participant, Patrick Egwuatu, CEO, Auto Care Digital Garage, expressed appreciation to Diamond Bank for the opportunity to meet the keynote speakers who, according to him, have inspired many entrepreneurs across the country.

“It is a rare privilege to meet these businessmen whose vision and success stories have inspired many local businesses. I have learnt a lot from the experiences they shared here and will definitely return to my business with a new zeal. Diamond Bank has done well for manufacturers in Nnewi through this seminar and they are really living up to the name ‘diamond’ among small and medium enterprises.”

The Diamond Bank BusinessXpress Seminar is a monthly capacity building and business advisory workshop targeted at businesses within the MSME sub-sector. Till date, the bank has supported the businesses within the sector with loans of over N20 billion.

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