PBA ReporterPolaris Bank has disclosed plans to sponsor Fashion Souk 7.0 as part of its activities for supporting the growth of Small and Medium Enterprises (SMEs) in Nigeria.
The two-day event, which is organised in partnership with an event management company, Eventful Limited, is scheduled to hold on Saturday 3rd and Sunday 4th of December 2022, at the Harbour Point, Victoria Island, Lagos.
The Bank in a statement explained that three successful entrepreneurs who emerge winners in a business pitch at the event will go home with N1 million, N500,000 and N250,000 for the overall winner, first runner-up and second runner-up respectively.
Speaking on behalf of Polaris Bank, the Group Head, Strategic Brand Management, Nduneche Ezurike, said that “Fashion and style enthusiasts can once again look forward to experiencing unparalleled fashion moments from Nigerian entrepreneurs.”
Mr. Ezurike noted that “As an SMEs-friendly Bank, it is always our delight to explore opportunities to grow Nigeria’s Small and Medium Enterprises. Polaris Bank’s lead sponsorship of the 7th edition of The Fashion Souk, underscores our acknowledgment of the SMEs as the catalyst for Nigeria’s economic growth.”
Continuing, he noted that “this year’s Fashion Souk is unique as it provides an opportunity for the yuletide holidaymakers with an unforgettable shopping experience as visitors will behold the creativity of the Nigerian entrepreneurs, especially in the beauty and fashion space.”
Mr. Ezurike further stated that Polaris Bank’s continued partnership with Eventful Limited stimulates the entrepreneurial spirit of many Nigerians, especially the new-age innovators in the key sectors of the national economy.
He commended Eventful Ltd for visibly showcasing the enterprise amongst Nigerians.
Commenting on the essence of the SOUK, Founder and Chairman of Eventful and Convener of the Fashion Souk, Yewande Zacheaus, said: “Eventful Limited has been deliberate in using the platform of The Fashion Souk to create the much-needed road to market for budding fashion entrepreneurs while also expanding the target market of the more established designers.
“We are proud to once again contribute to the growth of the nation’s economy,” she added.
More than 160 SMEs in Nigeria’s fashion industry, ranging from manufacturers to designers and retailers in clothing, kids fashion, textiles, jewelry, accessories, hats, bags, shoes and lingerie, are billed to showcase their creativity and product lines at the Fashion Souk.
According to December 2021 industry report, the Sub-Saharan African fashion market is worth $31 billion, with Nigeria holding an expanding share of 15 per cent.
In line with its SME focus, Polaris Bank has partnered with and supported businesses in critical sectors of the Nigerian economy, including health, education, manufacturing, agriculture, export, and others.
The Bank has advanced credits and indeed, provided close to N70 billion to Micro, Small, and Medium Enterprise (MSMEs) from January 2021 till date.
Following the Bank’s recent strides in supporting SMEs and MSMEs, the prestigious BusinessDay’s Banks and Other Financial Institutions (BAFI) Awards named Polaris Bank the MSME Bank of the Year 2022.
Polaris Bank, adjudged Digital Bank of the Year 2021 and 2022, is a future-determining Bank committed to delivering industry-defining products for individuals and businesses.
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