At a forum held in Abuja, Unity Bank unveiled the Yanga account to the women’s group, providing opportunities for the members to benefit from the enhanced product packages targeted at women entrepreneurs with capacity building, MSME financing schemes, affordable health insurance and cash management.

Speaking at the event themed: “Building Sustainable Entrepreneurial and Financial Skills for Women in Challenging Times,” the Divisional Head of Retail & SME Banking at Unity Bank Plc, Mrs. Adenike Abimbola said no fewer than 5,000 women have benefited from the Bank’s partnership with the association through the Yanga savings account offering.

Launched in 2021, the Yanga Savings Account is targeted to boost Nigerian women entrepreneurs, promote their businesses, and improve their skill set, while providing them with access to micro-loans and health insurance.

“The partnership with ANWBN has successfully led to the empowerment of Nigerian women with skills and credit facility with a single digit interest-free loan, which has so far expanded the MSME circle in Nigeria,” Adenike said.

Also speaking, the National Coordinator, ANWBN, Angela Ajala said the association comprises over 90 women business groups with over 5 million members.

She commended Unity Bank for its support and noted that Yanga’s offering resonates with the need “to equip women with the tools, resources, and knowledge needed to thrive as entrepreneurs and financial leaders”.

Recall that Unity Bank recently partnered with SkillPaddy to empower no fewer than 1,000 female beneficiaries in Software Engineering Training, also as part of initiatives to mark International Women’s Day 2024.

The IT skill development and empowerment initiative is intended to bridge talent supply gaps while providing individuals with the opportunity to meet their training goals and launch careers in the tech industry.

About 40 young girls will receive full sponsorship from Unity Bank in the special training initiative which was conceived as part of activities to commemorate this year’s International Women’s Day 2024.

With women making up just 33% of the tech-related workforce globally, this initiative seeks to boost women’s participation in the tech industry by delivering a sustainable, impact-driven programme that addresses gender disparity and deepens inclusion within the tech industry.

All beneficiaries of the programme will be trained on different aspects of software development and provided with mentorship and resources that they need to succeed, including learning life skills like critical thinking, communication, innovation & problem-solving.

Speaking on the partnership, Mrs. Tomi Somefun, the managing director/chief executive officer of Unity Bank Plc, said the initiative aligns with the theme of the IWD 2024, #InspireInclusion, adding that empowering young women reflects the Bank’s commitment to driving inclusion, equality and diversity across industries.

She stated, “As a bank committed to fostering economic empowerment and gender equality, we are proud to partner with SkillPaddy on this initiative to contribute to the training and empowerment of 1,000 female software engineers. Through this programme, we are not only investing in the future of these talented women but also driving innovation and diversity within the tech industry. By providing access to skills training and mentorship, we aim to unlock opportunities and create a more inclusive and thriving digital economy for all.”

You may recall that in line with the Bank’s Corporate Social Responsibility, it also recently partnered with a software training provider, AltSchool Africa to sponsor female students to acquire specialist software development skills.

The International Women’s Day, IWD is a day set aside globally to celebrate the social, economic, cultural and political achievements of women and reflect on action to accelerate gender equality. This year’s theme #InspireInclusion emphasises the importance of creating environments where all individuals, regardless of gender, feel valued, respected, and included.

Partnering with SkillPaddy and other industry experts, the bank aims to equip startups and existing businesses with the skills and resources to develop innovative products and services, create new markets and fast-track their growth.

The bank aims to upskill about one million SMEs through a Technical Assistance grant of N284.7 million from Proparco (the private-sector arm of the French Development Agency) and another N227 million from the African Development Bank (AfDB).

These will enable FCMB to facilitate the successful onboarding and empowerment of SMEs, including women entrepreneurs, under its SheVentures proposition and those operating in high-impact sectors (agriculture, renewable energy, digital).

To kick off the programme, First City Monument Bank awarded N50 million in grants to 200 SMEs who participated in the first training session. This announcement was made at an event celebrating Global Entrepreneurship Week 2023.

“The FCMB Accelerator Programme reaffirms our dedication to empowering businesses effectively,” said George Ogbonnaya, FCMB’s group head of SME banking. “We want to inspire Nigerians to pursue their entrepreneurial dreams and build a portfolio of ready businesses that can transform Nigeria’s economy.”

FCMB is committed to supporting women-led SMEs. “Through mentorship and access to finance, we will continue to empower these incredible entrepreneurs,” Ogbonnaya added.

“This partnership with First City Monument Bank will be a game-changer for SMEs,” said Kunle Erinle, Founder and CEO of SkillPaddy.

“By accelerating productivity, we can unlock doors of opportunity for startups and existing businesses, ultimately boosting Nigeria’s economic growth.”