Nedbank scores a hat trick with SA’s Best SME Bank awards

Nedbank has been lauded as being the financial services provider that best meets the banking needs of small and medium-sized enterprise (SMEs) by three prestigious awards programmes this year.

It earned the title of Best SME Bank in SA at the 2024 Global Banking & Finance Awards, which salute innovation, achievement, strategy, progressive and inspirational changes within the global financial community. 

It was named Best SME Bank in SA at the 2024 Asian Banker Awards, one of the industry’s most prestigious awards programmes covering the full spectrum of topics and areas that constitute financial services. This is the third consecutive year Nedbank has claimed this accolade.

And then Nedbank was voted SME Bank of the Year at the Qorus Reinvention Awards - MEA (Middle East Africa). Launched in 2023, these awards shine a spotlight on Middle Eastern and African institutions — and the people behind them — that are innovating at scale to shape the future of financial services in this region.

Alan Shannon, executive of Small Business Services at Nedbank, this year’s trio of prizes highlight the bank’s relentless focus on delivering innovative digital banking solutions and providing comprehensive business support, tailored for SMEs across SA.

“Our innovative digital channels, together with the support from dedicated relationship bankers, is the ideal combination to empower SMEs to meet and exceed their business objectives”, says Shannon. “And our ongoing commitment to this notion of ‘digital when you want it; human when you need it’ has helped to elevate our stature as a leading SME bank in the country.”

Nedbank supports more than 500,000 businesses, from informal sole proprietors to multi-director registered clients, assisting them with their transactional, payment, investment and financing needs. Its specialised services also extend to medical, franchising and agriculture sectors. 

Nedbank’s commitment to enabling the growth aspirations of SMEs extends beyond the mere provision of funding. Some of its initiatives in the past financial year include:

• Access to SimplyBiz, Nedbank’s free business development platform for over 84,000 businesses where they can find the tools, information and networks they need to grow their operations.
  
  
• Sponsorship of Nedbank point-of-sale devices for 165 township exhibitors and the creation of supplier procurement opportunities for 180 black youth-owned service providers.
  
  
• Hosting of Kasi Business Workshops across the country, creating shared value through its partnership with the Township Entrepreneurs Alliance, which has impacted more than 48,000 township SMMEs.

“Beyond our investment into digital innovation, we remain committed to solving the funding issues that continue to limit the sustainability and growth of many SMEs in SA and providing the necessary business tools, access to networks and knowledge platforms to fuel their entrepreneurial aspirations,” says Shannon. 

“Awards such as these are testament to the fact that what we’re doing is working.”

This article was sponsored by Nedbank.