Access Bank: Outperforming in economic empowerment of women

 

Women are the most powerful force for use to better economies. According to Global Banking Alliance for Women (GBA), 80 per cent of women make or influence up to 80 per cent of household buying decisions worldwide; up to 33 per cent of private businesses are owned or operated by women internationally while 80 per cent of women-owned small and medium enterprises (SMEs) with credit needs are un-served or under-served.

It therefore makes wise business decision to harness the power of women and financial institutions which do so have achieved tremendous success.

One financial institution in Nigeria that has tapped into this huge human resource pool for maximum benefits to its corporate image as well as the larger society is Access Bank Plc.

At Access Bank, women represent 41 per cent of its staff. Board members are more than 32 per cent Amazon, a feat yet to come to fruition in political appointments at the state and federal level. Interestingly too, Women make up 32 per cent of the bank’s customer base while more than 40 per cent of its loan portfolio is in the hands of women.

And realising that investment in women is smart economics, the bank had, in 2006, partnered with the International Finance Corporation (IFC) to develop targeted products for female entrepreneurs, thereby becoming one of the first African banks to provide dedicated credit lines to finance women-owned businesses.

Through its Gender Empowerment Programme Group, Access Bank provides training in business and management, free financial advisory services, and assistance in the preparation of business plans, accounts and other relevant documents.

In pursuit of its women-centric philosophy, the bank came up with “W” Initiative in 2014 to inspire, connect and empower women in Nigeria.

Benefits to women include access to a range of loan products and credit facilities, education on finance matters through the online “W” community, and health and family programs, among a number of other services.

The “W” Initiative, which has been launched in Ghana and Rwanda where the bank’s branches have spread to, also offers special support to women-owned SMEs, including mentoring services, capacity building and promotion of start-ups.

And what’s more, to help small and growing women owned-businesses, the W Initiative has partnered with Enterprise Development Centre (EDC), the entrepreneurship arm the Lagos Business School to bring ‘The Womenpreneur Business Workshop’ which is meant to provide aspiring women entrepreneurs and small businesses with training on basic skills for business growth and success. It is also meant to address the lack of access to entrepreneurial skills, finance, networking, and management skills which constitute barriers to women’s economic inclusion.

The WBW has been taken round many states in Nigeria’s six geo-political zones, recording tremendous successes in terms of attendance.

Commenting on the importance of women empowerment at the WBW held in Port Harcourt, Rivers State, Mrs. Eberechi Suzzette Nyesom-Wike said when women are empowered, more than half of societal problems would be solved. “We have learnt a lot that will improve the businesses of our women,” she said and commended Access Bank for giving women the opportunity “to learn to be self-reliant and how to improve their lives and businesses.”

The bank’s Group Head, Inclusive Banking, Mrs. Ope Wemi-Jones said Access Bank has since 2006, continued in its commitment to drive women’s economic empowerment in Nigeria.

She explained that the WBW is intended to educate and enlighten Nigerian women on the fundamentals in business which will eventually help them attain their full potentials.

“Through the initiative, we inspire, connect and empower women. We are deeply committed to supporting female entrepreneurs irrespective of the stage of their business…,” she said.

Through its Gender Empowerment Programme Group, Access Bank provides training in business and management, free financial advisory services, and assistance in the preparation of business plans, accounts and other relevant documents.

In pursuit of its women-centric philosophy, the bank came up with “W” Initiative in 2014 to inspire, connect and empower women in Nigeria.

Benefits to women include access to a range of loan products and credit facilities, education on finance matters through the online “W” community, and health and family programs, among a number of other services.

The “W” Initiative, which has been launched in Ghana and Rwanda where the bank’s branches have spread to, also offers special support to women-owned SMEs, including mentoring services, capacity building and promotion of start-ups.

And what’s more, to help small and growing women owned-businesses, the W Initiative has partnered with Enterprise Development Centre (EDC), the entrepreneurship arm the Lagos Business School to bring ‘The Womenpreneur Business Workshop’ which is meant to provide aspiring women entrepreneurs and small businesses with training on basic skills for business growth and success. It is also meant to address the lack of access to entrepreneurial skills, finance, networking, and management skills which constitute barriers to women’s economic inclusion.

The WBW has been taken round many states in Nigeria’s six geo-political zones, recording tremendous successes in terms of attendance.

Commenting on the importance of women empowerment at the WBW held in Port Harcourt, Rivers State, Mrs. Eberechi Suzzette Nyesom-Wike said when women are empowered, more than half of societal problems would be solved. “We have learnt a lot that will improve the businesses of our women,” she said and commended Access Bank for giving women the opportunity “to learn to be self-reliant and how to improve their lives and businesses.”

The bank’s Group Head, Inclusive Banking, Mrs. Ope Wemi-Jones said Access Bank has since 2006, continued in its commitment to drive women’s economic empowerment in Nigeria.

She explained that the WBW is intended to educate and enlighten Nigerian women on the fundamentals in business which will eventually help them attain their full potentials.

“Through the initiative, we inspire, connect and empower women. We are deeply committed to supporting female entrepreneurs irrespective of the stage of their business…,” she said.

 

Culled from Newsgazette