Why 78% of UBA loans go to empower women – Elumelu

The United Bank for Africa Plc UBA, said over 78% of its loans are geared towards empowering women, as a result of the critical roles women play in society, Tony Elumelu, Chairman of United Bank for Africa Plc (UBA), has said.

Speaking at a women empowerment event, organised by the Ministry of Women Affairs, at the State House, Abuja on Tuesday, Elumelu said the bank’s commitment to women empowerment, recognises that women are the driving force behind sustainable development, innovation, and economic growth.

Represented at the event by Oliver Alawuba, the group managing director of UBA, the bank boss stated that his organisation has continued to prioritise issues of women, with about 50% representations on the board of the bank and 40% of the bank’s leadership positions occupied by women.

“Across our 24 countries of presence, we have actively embraced the potential and leadership of women, not just in words but in actions. With close to 50% female representation on our Board, 40% of Senior Management roles held by women and an impressive 59% of our Graduate Management Trainees being female, we are truly leading the charge for gender equality in the corporate world.

“ Beyond leadership and representation, through exclusive SME loan products tailored for women-led and women-owned businesses, we have ensured that 78% of our Working Capital Loans are empowering these women-led and women-owned enterprises.

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He described the event, with the theme: “Farming to Feed the Nation, Empowerment to Give Women Voices, Justice for Crimes to Have Consequences via Mobile Court.” as a “beacon of hope and a call to action for the holistic empowerment of women across Nigeria,” he said.

He applauded President Bola Tinubu’s efforts at empowering women and promised to support the federal government’s efforts to lift Nigeria women, because according to him, when women thrive, society prospers.

“Why must we empower women? Because when women thrive, societies prosper. The United Nations has consistently emphasized that gender equality and women’s empowerment are at the heart of sustainable development,” he said.

“Studies show that if we close the gender gap in the workforce, global GDP could increase by as much as $12 trillion by 2025.

Here in Nigeria, empowering women is not just an ethical obligation – it is an economic imperative. A woman with access to resources, education, and justice becomes a powerful force for change, lifting her family, her community, and her nation.”

He said the bank’s unwavering commitment underlines its role as a foremost pan-African Global Banking Group dedicated to advancing women’s empowerment and fulfilling the promise of the United Nations’ Sustainable Development Goal 5, i.e. achieving Gender Equality and empowering all women and girls.

“Empowering women means equipping them with the tools to participate fully in all sectors of society, from agriculture to technology, from leadership to entrepreneurship. It means ensuring they have access to healthcare, legal recourse, and educational opportunities. It means giving them a platform to make decisions and assert their rights,” he said

Elumelu charged the organised private sector to support the federal government’s efforts at empowering women, adding that “ the responsibility of empowering women cannot rest on government alone. It requires the concerted effort of every one of us – individuals, civil society organizations, development partners, and the private sector – to come together with a shared commitment to this cause.