Access Bank, through the W Initiative, has empowered women-owned and managed Small and Medium-sized Enterprises by putting together an innovative bundle of offerings designed to support them in the Coronavirus Disease-induced economic crisis.
The W Initiative remains a pioneer proposition to promote women’s economic empowerment in Africa with over a decade of active participation in creating and supporting the women’s market across the focus segment, the bank noted In a statement made available to Financial Street, the bank noted in a statement made available to Financial Street.
According to the Nigeria-based multinational financial services organisation, being the forerunner of the gender-focused initiative in the industry, the W Initiative has yet again demonstrated a feat by supporting women, especially those operating small and medium-scale businesses during these times.
The bundled offerings consist of the introduction of the W Webinar Series, implementation of a 90-day moratorium and extension on all existing loans to women-owned and managed SMEs without penal charge, introduction of the bespoke business debit card and creation of an e-commerce-enabled website to enhance the digital presence for female-owned businesses.
Speaking on the initiative, Group Head, Women Banking at Access Bank, Ayona Aguele-Trimnell, said, “At Access Bank, we are mainly committed to drive women’s economic empowerment in the markets we serve.
“We are also actively involved in supporting women-owned businesses to thrive through this period by leveraging digital platforms to sell their goods and services, providing alternate channels of banking as well as easing the burden of loan repayment while considering the impact of the global pandemic on SMEs,” she said.
She disclosed that the bank adopted virtual platforms to ensure that women-owned SMEs were provided the enabling environment to thrive and continue their businesses despite the pandemic.
Access Bank, she added, has an unflinching commitment to empower women and contribute immensely to the growth of the women market in Nigeria and beyond, for accelerated social and economic growth.
