• Monday, July 15, 2024
businessday logo


IWD: Wema Bank earmarks N8.9bn for empowerment of women

Wema Bank seeks support for MSMEs to drive economic growth

Moruf Oseni, managing director/CEO, Wema Bank plc, has advocated equity for the female gender in the workplace just as he disclosed N8.9 billion set aside as uncollateralised loans for women by the bank.

Oseni said the bank would remain deliberate in its continuous support, promotion and empowerment of women to reach their set goals.

The MD spoke at the Wema Bank International Women’s Day (IWD) programme, tagged: “Empowerment through finance,” held in Lagos, as part of activities to mark the 2024 IWD.

Read also: Wema Bank empowers MSMEs with payment solutions

According to him, the bank earmarked N8.9 billion as uncollateralised loans and also supported Nigerian businesses run by women.

“Let’s talk about their (women) offerings here and why it’s important to commit to these. The first thing we need to talk about is why support women? It’s extremely important. I’ve never seen a plane that will fly on one wing. It’s important to ensure that there’s inclusion and equality in the workplace for women. We are very deliberate in WEMA, as we make sure we recruit a good number of women.

“We make sure women are guided through their career. We also ensure we create an enabling environment for them and they’re not disadvantaged against the men. But we want to show that we’re not just talking about it, we want to put our words to action.

“That is why we do these kinds of programmes. This is just one of the events we do. There’s a proposition we have specifically for women called SARA for Women. And in that proposition, we have a lot of products, which includes mentoring and coaching.

“It’s important that we put our money where our mouth is. Quite a number of businesses we also curate and we finance are also for women. But it’s not just giving them financing, we’re making sure that those businesses are successful and they’re able to have societal impact.

Oseni added that it was important to ensure more women are in Science, Technology, Engineering and Mathematics (STEM), saying they should be represented in the digital space.

Also speaking, Oluwayemisi Olorunshola, chairman Wema Bank Board of Directors, stated that the bank’s female focused proposition, SARA has transformed many lives, providing physical, financial, intellectual and other relevant resources for their personal and professional success.

Read also: Embracing diversity: The essence of International Women’s Day 2024

“Wema Bank recognises the indispensable role of women in shaping a prosperous society. Celebrating women aligns with the bank’s commitment to fostering an inclusive environment where women can thrive and achieve their fullest potential,’ she said.