Nedbank has been recognised as the 'Best SME Bank' in South Africa by 3 prestigious award programmes in 2024. The Asian Banker’s Global Middle East and Africa Awards, the Global Banking and Finance Awards and the Qorus Reinvention Awards have all recognised the financial services provider for best meeting the banking needs of SMEs.
Also noteworthy is that this is the third consecutive year that Nedbank has won at the Asian Banker Awards, the most prestigious awards programmes in the industry covering the full spectrum of topics and areas that constitute financial services, as the 'Best SME Bank' in South Africa.
At the Global Banking & Finance Awards, which reflects the innovation, achievement, strategy, progressive and inspirational changes taking place within the global financial community, Nedbank once again topped the category as the 'Best SME Bank' in South Africa.
The Qorus Reinvention Awards Middle East Africa, which was launched in 2023 to put the 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, voted Nedbank the 'SME Bank of the Year'.
Winners for the 'Best SME Bank' category were selected based on entries submitted and independent research, with input from industry insiders, executives and technology experts. The committee uses a proprietary algorithm with criteria, such as knowledge of SME markets and needs, breadth of products and services, market standing and innovation, weighted for relative importance.
According to Alan Shannon, Executive of Small Business Services at Nedbank, this year’s brace of recognitions highlights Nedbank’s relentless focus on delivering innovative digital banking solutions and providing comprehensive business support, tailored for SMEs across South Africa. 'Our innovative digital channels, combined with the support from dedicated relationship bankers, is the ideal combination to empower SMEs to meet and exceed their business objectives', Shannon explains, '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 over 500 000 businesses, from informal sole proprietors to multi-director registered clients, assisting them with their transactional, payment, investment and financing needs. Our specialised services also extend to sectors such as medical, franchising and agriculture.
With Nedbank’s commitment to enabling the growth aspirations of SMEs extending beyond the mere provision of funding, some of the bank’s initiatives in the past financial year that got the committee’s nod 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 South Africa and providing the necessary business tools, access to networks and knowledge platforms to fuel their entrepreneurial aspirations. Awards, such as these, are testament to the fact that what we are doing is working', concludes Shannon.