Unity Bank, NASME to Empower Women Owned MSMEs

Unity Bank Plc is collaborating with the Nigerian Association of Small and Medium Enterprises (NASME) in a partnership, with the aim of empowering women owned enterprises in commemoration of International Women’s Day (IWD).

Otunba Gbemisola Oduntan, National Deputy President, NASME, in a statement on Wednesday, said the partnership would help push the frontiers of sustainable and inclusive development in Nigeria.

While commending the development, Oduntan acknowledged Unity Bank’s unflinching support and commitment to women’s empowerment in the country.

She said that the partnership with the bank would enable the association to roll out an engagement programme for women entrepreneurs, specifically targeted at those in the MSME sector.

It provided a platform for corporate partners to join collaborative initiatives that would impact positively on the businesses of individual members of NASME in Lagos,” she said.

Managing Director, Unity Bank Plc, Mrs Oluwatomi Somefun, said the bank would continue to support pioneering efforts with genuine intent on inclusion, removing biases and unlearning stereotypes.

Referencing the bank’s latest retail solution, the Yanga Account, targeted at women-owned MSMEs, Somefun reiterated the bank’s commitment to introducing innovative products and services.

This would be to support and unlock the true potentials of Nigerian women entrepreneurs.

“All these are even as the bank continues to introduce innovative banking solutions that support and empower MSMEs operated by women in Nigeria.

“Nigerian women continue to play a pivotal role in driving the growth of the Nigerian economy through their overwhelming involvement in economic activities.

”As major operators of MSMEs in Nigeria accounting for 41 per cent of MSMEs in the country.

“The bank’s quest to grow the retail segment has enabled us to pay extra attention to women-led businesses more than any other financial services provider in Nigeria.

“Just recently, we launched the Yanga account, which is a new retail product designed to deepen beneficial impact on Micro, Small and Medium Enterprises, MSMEs operated by women in the mass market retail space.

“The Yanga account targets businesses of women mainly in farmers’ cooperatives, fashion design, tailoring, frozen food, pastry and baking, cosmetics, jewellery designs and making, skincare, eateries and restaurants, living in the communities or cities.

“The Yanga Account is conceived and designed for the financial literacy and empowerment of Nigerian women.

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“It is about making sure that our women, who make up 55 per cent of the financially excluded Nigerians, have access to basic and life-changing financial services”, she said.

She added that the Yanga account would also be incorporating an affordable health insurance scheme as part of the product bouquet underpinning the bank’s belief in health and wellness.

This, she said, not only translates to wealth creation but also to drive insurance penetration, which is presently at two per cent in Nigeria.

“We, therefore, believe that this would provide essential ingredients to growing a business as well as adding greater value for Yanga account holders,” she said. #Unity Bank, NASME to Empower Women Owned MSMEs