Wema earmarks N8.9bn for women-run businesses restates commitment to supporting women

The MD/CEO of Wema Bank, Moruf Oseni has stressed the need for inclusion and equity for women in the workplace, saying all hands must be on deck to ensure a good representation of both genders.

He stated that Wema Bank would continue to be deliberate in supporting and promoting women, disclosing that the bank earmarked N8.9 billion as uncollateralized loans and also supported Nigerian businesses run by women.

Oseni spoke at the Wema Bank International Women’s Day programme, tagged: “Empowerment through finance,” held in Lagos.

He said: “Let’s talk about their (women) offerings here and why it’s important to commit to these. The first thing we need to talk about is why support women? It’s extremely important. I’ve never seen a plane that will fly on one wing. It’s important to ensure that there’s inclusion and equality in the workplace for women. We are very deliberate in WEMA, as we make sure we recruit a good number of women.

“We make sure women are guided through their career. We also ensure we create an enabling environment for them and they’re not disadvantaged against the men. But we want to show that we’re not just talking about it, we want to put our words to action.

“That is why we do these kinds of programmes. This is just one of the events we do. There’s a proposition we have specifically for women called SARA for Women. And in that proposition, we have a lot of products, which includes mentoring and coaching.

“It’s important that we put our money where our mouth is. Quite a number of businesses we also curate and we finance are also for women. But it’s not just giving them financing, we’re making sure that those businesses are successful and they’re able to have societal impact.

Oseni added that it was important to ensure more women are in Science, Technology, Engineering and Mathematics (STEM), saying they should be represented in the digital space.

On her part, Chairman Wema Bank Board of Directors, Oluwayemisi Olorunshola stated that the bank’s female focused proposition, SARA has transformed many lives, providing physical, financial, intellectual and other relevant resources for their personal and professional success.

“Wema Bank recognizes the indispensable role of women in shaping a prosperous society. Celebrating women aligns with the bank’s commitment to fostering an inclusive environment where women can thrive and achieve their fullest potential.”