Access Bank Strengthens Women Empowerment Effort in Southern Africa, Relaunches W Initiative in Zambia and Botswana
Lagos, Nigeria – September 30,
2024: Access
Bank Plc, one of Africa’s leading banks, has reinforced its dedication to
advancing women’s empowerment across Southern Africa with the relaunch of its ‘W’
Initiative in Zambia and Botswana. The ‘W’ Initiative, which provides a wide
array of financial services and support programs specifically designed for
women, is a key component of Access Bank’s broader strategy to drive financial
inclusion and foster socio-economic growth in the region.
The revamped ‘W’ Initiative
aims to provide financial services for women by offering customised solutions such
as savings and investment products, business loans, and mentorship programs. In
addition to these services, the initiative also promotes financial literacy and
provides opportunities for professional growth. During the event in Zambia, Chizoma
Okoli, Deputy Managing Director of Access Bank Plc, highlighted the importance
of initiatives like these for empowering women.
“Empowering women is a
cornerstone of Access Bank’s mission to drive economic growth across Africa.
Through the ‘W’ Initiative, we aim to provide tailored financial solutions
while also fostering environments that encourage women to thrive in all areas
of life – whether as business owners, professionals, or leaders in their
communities,” she said.
Okoli held discussions with
key stakeholders, including Vice President of Zambia, Mrs. W.K. Mutala
Nalumango, to explore strategies for creating an enabling environment for
Zambian women. Access Bank Zambia also pledged a donation of K500,000 towards
nutritional programs in the Vice President’s office, further demonstrating the Bank’s
commitment to community welfare.
Nalumango highlighted the
vital role women play in the nation's economic development. “It is crucial for
women to recognise the value they bring to the table and to be vocal about
their accomplishments,” she stated. She also emphasised the importance of
self-promotion and self-advocacy, particularly for women and girls, while
commending Access Bank's efforts to support women through initiatives like the ‘W’
Initiative.
Meanwhile, in Botswana,
Access Bank’s relaunched ‘W’ Initiative set a new benchmark for women’s
financial empowerment in the country. Sheperd Aisam, Managing Director of
Access Bank Botswana, described the Initiative as a “transformative platform”
offering tailored financial products and services that cater to the unique
needs of women. The initiative in Botswana will introduce solutions such as
vacation, health, and educational loans, as well as high-interest savings
accounts designed for long-term wealth building.
“We are proud to launch the ‘W’
Initiative in Botswana, which is designed not only to provide financial
products but also to equip women with the tools, resources, and networks they
need to achieve personal and professional success,” said Aisam. “Access Bank is
committed to inspiring and empowering women across all sectors of society.”
Over the past 17 years,
Access Bank has consistently demonstrated its commitment to gender equality and
women's economic empowerment, expending over N338.6 billion in financing for
over 3.6 million women. The ‘W’ Health Loan, the new umbrella product for all
health loans available under the W Initiative comes in 3 variants. One of these
variants is the Maternal Health Service Support (MHSS) – a flagship product
designed to provide discounted financing for fertility procedures, natal
support and specialized procedures peculiar to women.
The MHSS, which is currently
present in Nigeria, Ghana, Rwanda, Mozambique and Zambia, is positioned to help
women and families overcome barriers to good health and wellbeing. Often
referred to as the ‘baby making product’, the MHSS is a premier product in
Africa which has impacted over 160 women and families with access to finance on
various health procedures worth N245.5 million as well as birthed 104 babies
through the discounted health financing scheme. The 2 additional health loan
variants cover medical emergencies and cancer treatments.
Running in 12 countries
across Africa, the ‘W’ Initiative stands as a testament to Access Bank's
broader commitment to women's empowerment across Africa, ensuring that more
women can access financial opportunities that propel them towards success.
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Access
Bank, a wholly owned subsidiary of Access Holdings Plc, is a leading
full-service commercial bank operating through a network of more than 700
branches and service outlets spanning 3 continents, 23 countries and over 60
million customers. The Bank employs over 28,000 people in its operations in
Africa and Europe, with representative offices in China, Lebanon, India, and
the UAE.
Access
Bank’s parent company, Access Holdings Plc, has been listed on the Nigerian
Stock Exchange since 1998. The Bank is a diversified financial institution
which combines a strong retail customer franchise and digital platform with
deep corporate banking expertise, proven risk management and capital management
capabilities. The Bank services its various markets through three key business
segments: Corporate and Investment Banking, Commercial Banking, and
Retail Banking. The Bank has enjoyed what is arguably Africa’s most
successful banking growth trajectory in the last 18 years, becoming one of the
continent’s largest retail banks.
As
part of its continued growth strategy, Access Bank is focused on mainstreaming
sustainable business practices into its operations. The Bank strives to deliver
sustainable economic growth that is profitable, environmentally responsible,
and socially relevant, helping customers to access more and achieve their
dreams.
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