Stakeholders have called for innovative financial solutions to break systemic barriers faced in the sector, while adding that for a long time, millions of women struggle to access financial services such as loans.
Speaking at this year’s International Women’s Day celebration organised by Union Bank in Lagos, with the theme ‘Inspiring Inclusion, Ability over Gender’, the stakeholders also harped on the importance of initiatives led by regulatory agencies in the sector.
Managing Director, Union Bank, Yetunde Oni, said women have faced systemic barriers that limit their opportunities for advancement, noting that it’s time to focus on their abilities, passion and aspirations.
She stated that women need to be equipped with the knowledge and skill needed to navigate the financial landscape, adding that by providing financial literacy education, entrepreneurship training and access to resources and networks, women can be empowered to take control of their financial future and break through circles of oppression.
She urged stakeholders to develop innovative products and services that meet the needs of financially underserved women. Chief Brand and Marketing Officer, Union Bank, Olufunmilola Aluko, said the firm believes in recognising and celebrating every individual’s talent irrespective of gender or narrative, adding that gender should never be a barrier to achievement.
“Union Bank, at its core, stands for equal representation and acknowledgement of the incredible skills and ability women bring to the table notwithstanding the industry or enterprise they engage in. The message behind this year’s theme is a call for everyone to strive for a fair, equitable world where individuals are judged and assessed on the depth of their capability rather than their biological makeup,” she added.
While the Advocacy and Communications Lead, Enhancing Financial Innovation and Access (EFInA), Chinasa Collins-Ogbuo, said there should be more focus on adaptation instead of transformation as gender inequality is an age long belief system; Specialist Advisory Services Africa, Women’s World Banking, Olajumoke Daramola, noted that products should be adapted to women’s realities and peculiar solutions should be created.
