Access Bank of Nigeria commits to train, mentor women entrepreneurs

In recognition that the role of women, either as mothers, sisters, wives, leaders, colleagues or just a friend is significant, and also acknowledging that women enrich lives and provide the glue that holds communities and families together, Access Bank plc has consequently, reiterated its commitment to train and mentor women entrepreneurs to achieve a desired business growth, which translates to greater contribution to economic development

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The bank values the role of women and commenced its expression since 2006, through its Gender Empowerment (GEM) programme.

Herbert Wigwe, group managing director of the bank, said this at the official launch of ‘W’ Initiative‎,’ the bank’s approach to banking women supported by an online interactive community dedicated to the woman.

He decried the difficulty experienced by women in accessing loan facilities ‎from banks, adding that unless women were supported and empowered, the country will find it difficult to make progress. “Once you don’t have that training, there is glass ceiling to your business growth,” he said.

According to him, the bank has over the last couple of years carried out a series of research, specifically on women, and discovered that women should be supported ‎if Nigeria must make progress.

He was worried that in spite of statistics showing that a third of small and medium scale enterprises (SMES) in Nigeria were owned by women, banking services were still skewed in favour of men.

The bank through the research discovered that women have lower default rate than men in terms of loans repayment. Wigwe, however, wondered why most banks in the country find it difficult to grant facilities to women, despite the low default rate of women in terms of loan repayment.

Ope Wemi-Jones, group head, inclusive banking, Access Bank, stressed the bank’s concern for the challenges faced by women entrepreneurs, and consequently decided to design and launch the ‘W Initiative.’

According to her, the initiative is for every woman across all strata of the society and across the globe who desires to be empowered, connected and who seeks to contribute meaningfully to developing their society and the country in general.

Speaking at the occasion, Kehinde Kamson, CEO, Sweet Sensation, noted the difficulty experienced by female entrepreneurs in accessing loan facilities from banks in the country, negatively affecting the quest for economic independence by a vast majority of women and also hindering them from making significant contribution towards the growth and development of the country.