Wema Bank launches gender-focused loan offerings


Wema Bank Plc has launched a special discounted loan offer for women to mark International Women’s Day (IWD) this year.

The Division Manager, Retail, Wema Bank Plc. Dotun Ifebogun launched the unique loan offer for the genre during a webinar on the topic: “Challenge Today for an Equal Future” held recently to mark the IWD.

Stressing the importance of the offer, Ifebogun was quoted in a statement for saying it is more than a loan, as it also involves extensive training.

“With this package, women can now access business loans at single-digit interest rates. They have insurance coverage for the business and themselves. A particular business owner will also have the opportunity to complete a five-day business training at Wema Bank SME Business Training School, ”said Ifebogun.

He asserted that Wema Bank will continue to help women face challenges and promote gender inclusion through thoughtful initiatives such as new loan package, health programs, business counseling, financial education. , among others.

“This year, we challenged the lack of access to finance for women, focusing on cheaper loans and financial literacy for women through targeted training.

“With this offer, we are going beyond the simple donation of funds and fundraising; we extended it to training and expanding the knowledge base of these women to make sure that the people we give this loan to can build on it and grow, ”said Ifebogun.

Executive Director, Business Support, Wema Bank, Folake Sanu, opened the webinar which addressed the challenging societal norms of women reaching their potential in entrepreneurship and the workplace.

Team Leader, Business Process Re-Engineering, Wema Bank, Chika Adun moderated the webinar.

Panelists for the webinar included Founder of the Green Investment Club and Certified Financial Education Instructor Tomie Balogun; Dupe Akinsiun, Global Leadership Development Expert, and Chief Knowledge Officer, Wofin Tech Limited, Omilola Oshikoya.

Reiterating the importance of building capacity and building confidence, Akinsiun said women need to be clear about the expectations and standards they set for themselves.

“Avoid cultural limitations and mentalities, recognize your weaknesses and build on your strengths by helping others through thick and thin.

“People struggle because they believe they have no weaknesses. It breeds internal conflict and makes you feel uncomfortable and sees you as a fake.

Balogun stressed the importance of training, development and financial literacy, regardless of the volatile interest rate and rising inflation.

“Money is just a tool. The way you use it is what makes the difference. When you are building wealth, you have to have an abundance mentality and not a scarcity mentality, ”she said.

Balogun added, “Take ownership of your personal finances. It is not something that you can outsource. It would help if you got a financial education to understand how you spend, how you budget, how you save, how to plan and invest.

“You have to think about saving and not spending on frivolities. Prepare, build and develop your skills. This is how we aspire. Being perceived as difficult as a boss is not a function of gender but of the dynamics of the workplace.

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