Nigerian retail lender, Unity Bank Plc, is set to engage about 5 million Micro, Small and Medium Enterprises (MSMEs), operated by women in the South West region.
At the official unveiling of the Yanga Account for the South West region held in Ibadan, Oyo State, on Tuesday, the Bank pledged its unwavering commitment to empowering women to enable them to overcome every obstacle to accessing quality banking services needed to boost their businesses.
Yanga Account is a complete suite of services designed to promote financial inclusion among women through stress-free savings and investment, and access to services by dedicated sales agents.
It also includes agency banking services close to their business locations, special business seminar and training on how to grow business, access to microloans, customized debit cards and other bundled e-banking products.
The Yanga Account is conceived and designed for the financial literacy and empowerment of Nigerian women. It is about making sure that our women, who make up 55% of the financially-excluded Nigerians, have access to basic and life-changing financial services.
Speaking at the event, the Managing Director/Chief Executive Officer of Unity Bank, Mrs. Tomi Somefun, said: “the Yanga Account heralds a new dawn for my fellow women operating businesses in South West Nigeria.
She reiterated that the product is open to every woman across sectors or region, saying: “The Yanga Account is conceived and designed for the financial literacy and empowerment of Nigerian women. It is about making sure that our women, who make up 55% of the financially-excluded Nigerians, have access to basic and life-changing financial services.”
Also speaking, the Bank’s new brand ambassador, King of Boys star, Sola Sobowale, invited all Nigerian women who operate businesses in the South West to embrace the incredible opportunities offered by the Yanga account to grow their businesses.
Sobowale insisted that no woman will be left behind, noting that “This is the first time that a bank will specifically design a product to cater to women, and I am excited about the inherent benefits of this account and the endless possibilities that it brings to my fellow women. I invite all my fellow women in South-West Nigeria to sign up for the Yanga Account and watch their levels change.”
On his part, Group Head, Retail, SME Banking and E-Business, Unity Bank, Funwa Akinmade, said: “Female-led MSMEs in South West Nigeria continue to play pivotal roles in the contribution of the MSMEs to the economy of Nigeria and that has informed this special activation of Yanga account in Ibadan today.
“The Yanga account is a well-packaged banking product that combines several services that most small businesses owned by women will need to become profitable. We are optimistic that Ibadan women and all others across South West Nigeria will embrace the Yanga Account and leverage its full benefits to grow their businesses.”