Connect with us


Wema Bank, BOI align forces over Sara by Wema



Wema Bank Plc, the pioneer of Nigeria’s first fully digital bank ALAT, has empowered over 100 women in the Micro, Small and Medium Enterprises (MSME) sub-sector. The business advisory seminar, tagged ‘Running A Profitable Business’ brought women entrepreneurs together from the bank’s Lagos Region. 

Speaking at the event, Mrs Aramide Awosanya, Regional Manager, Lagos Mainland, Wema Bank, said the initiative was taken to complement the policy of the Central Bank of Nigeria, which aims at MSME development in the country.

It would be recalled that the CBN launched the MSME Development Fund in 2013 with a share capital of N220 billion. The Fund was established in recognition of the significant contributions of the MSME sub-sector to the economy and the existing huge financing gap.

Awosanya said Wema Bank is working with the Bank of Industry (BOI) to assist women entrepreneur to maximize the enormous financial benefits available within the Sara by Wema community.

According to her, Sara by Wema is a community that gives women the capacity to participate in, wholly contribute to and fully benefit from the growth opportunities available in Wema Bank. In her words, “it is fuelled by our conviction that women across all socio-economic backgrounds deserve as many opportunities as they can get to achieve financial independence and economic growth.”

Head, Inclusive Banking, Wema Bank Plc, Okwuchi Ugorji; Chief Personality Officer, Inventivo, Sade Odunaiya; Head, Sustainability, Wema Bank Plc, Abimbola Agbejule; Managing Director, Mona Matthews, Monalisa Abimbola Azeh and Deputy Manager, Gender Business, Bank of Industry (BoI), Jimoh Amdala, at the SARA by Wema Seminar on running a profitable business held in Lagos…on Thursday.

She stated that the community is open to all Nigerian women who own startup enterprises as well as those that are low-income earners and stay-at-home entrepreneurs.

Mrs Sade Odunaiya, keynote speaker at the event and Certified Business Coach with ActionCoach, addressed participants on “Growing Your Own Business’. In her presentation, she noted that 80% of new enterprises fail within their first 5 years of operation, while another 80% of those who survived that period also fail within the next 5 years.

On the way forward, she advised participants to ensure they master their production systems, guide against misplaced priority, collate feedback from customers and also put in place procedural manuals for all team members.

Similarly, Mrs Jimoh Amdala, Deputy Manager, Gender Business, BOI, said her management partnered with Wema Bank with a view to enlightening women about the best way to package their applications for credit facilities from Wema Bank.

Speaking on “How to Fund Your Business”, Amdala disclosed that the BOI has identified the basic impediments working against entrepreneurs in applications for loans. She also stated that BOI does not give loans to businesses that would not be able to repay. Her words: “We give loans at a very minimal rate but must be convinced of your viability to pay back.

Managing Director, Mona Matthews, Monalisa Abimbola Azeh; Chief Personality Officer, Inventivo, Sade Odunaiya; Regional Manager, Lagos Mainland, Wema Bank Plc, Aramide Awosanya, at the SARA by Wema Seminar on running a profitable business held in Lagos…on Thursday

However, Amdala disclosed that when women approach the BOI for loans, their documentation, most of the time, is not complete. According to her, the management of BOI is always ready to give a helping hand to any application by women because the financial institution believes that any support given to a woman connotes support to a nation.

Meanwhile, Awosanya revealed that Wema Bank will take the Sara by Wema women empowerment initiative to other parts of Nigeria for the benefit of women entrepreneurs across the country. “We shall take the initiative to Abuja before theend of the year and later to other parts of the country,” she said.

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply


Facebook employee reportedly commits suicide by jumping from office building



A Facebook employee has reportedly committed suicide by jumping from the fourth floor of Facebook’s headquarters in California.

According to TIME, the unnamed Facebook employee reportedly jumped from the fourth floor of one of the company’s headquarters in Menlo Park, California. He was found unresponsive and declared deceased at the scene shortly after 11:30 a.m. Thursday, September 19, according to the Menlo Park police department.

A spokesperson for Facebook confirmed the devastating incident, as the company plans to contact the victim’s family before releasing the identity to the public.

“We were saddened to learn that one of our employees passed away at our Menlo Park headquarters earlier today,” the company said. “We’re cooperating with police in their investigation and providing support to employees. While the family is being notified, we have no information to share.”

Facebook employee reportedly commits suicide by jumping from office building

The City of Menlo Park confirmed that there was “no foul play involved in this apparent suicide.” 

The employee is currently only identified as a full-time software engineer at Facebook

Continue Reading


Glo Recognizes Brilliant Students At UNIBEN



Five best-performing students of the University of Benin (UNIBEN) have been appreciated and presented with smart phones by Nigeria’s digital transformation leader, Globacom, in conjunction with its technology partner, Huawei.

The gesture was part of the corporate social responsibility initiative of the two companies, wherein outstanding students of Nigerian universities are rewarded with ICT solutions. The companies said the initiative is part of their commitment to promoting scholarship among the youth.

Apart from the five UNIBEN undergraduates who received the smartphones, the institution also got internet routers complete with data bundles.

In a brief ceremony, UNIBEN Deputy Vice Chancellor, Administration, Prof. Ikponwonso Omoruyi, noted that the gadgets, namely five routers for the school and smartphones fully loaded with Glo data for five final year students of the University with best CGPA points, would encourage the students and the staff of the institution to continue to pursue academic excellence.

 “What you have done will encourage the pursuit of academic excellence and ease the data needs of the university community. The gesture will also strengthen the bond of friendship between Globacom and the University of Benin,” he said.

The student beneficiaries were also full of appreciation to Globacom for the gesture. One of them, Promise Ekpo Osaine of the Department of Computer Engineering, said, “I feel amazed, dumbfounded, in fact I don’t know the adjective to describe how I am feeling right now. All through my five years in school, I have never experienced an event such as this where students are rewarded for academic excellence. This has really encouraged me in pushing myself further in my academic pursuit and ensuring that I graduate in flying colours. I will encourage those who are not Glo subscribers to join the network”.

Another student beneficiary, Kelvin Okoawo, of the Department of Business Administration, spoke in the same vein, stating, “I only see things of this nature on television and I am glad I am a beneficiary today. I am so happy. Big shout out to Globacom for encouraging me to work harder in my studies”.

The other beneficiaries of the largesse are Igbo Emmanuel Chibizor of the Computer Science Department, Chioma Faith Onuchukwu of the Faculty of Law and Emmanuella Uche Chuwueta of Animal Science department.

In his own remarks, Globacom’s Regional Manager, Activation, Mr. Obiora Ezeora, expressed appreciation to the University of Benin officials for the warm reception accorded to Globacom and its partner. He called on the university community to continue to support Globacom, pledging that the company would continue to strive for excellence

Continue Reading


FirstBank Supports Educational Institutions With FirstEdu



Nigeria’s premier and leading financial services provider, First Bank of Nigeria Limited, has announced its educational solution – FirstEdu – specifically designed to enhance the educational facilities in schools. The FirstEdu product includes FirstEdu loan and FirstEdu portal.

FirstEdu loan is targeted at private Nursery & Primary and Secondary schools to assist the schools in achieving their desired growth in the medium and long-term. The product provides funding to replace old furniture and equipment, pay staff salaries, purchase brand new or fairly-used buses as well as refurbish dilapidated buildings and classroom blocks. With this product, school owners/proprietors can stay ahead of competition at all times.

The product enables the schools to access facility with no tangible collateral, apart from domiciliation of school fees account with the Bank.

In addition, FirstEdu portal is a modular and robust web-based enterprise portal that enables Tertiary educational institutions manage academic, administrative, professional, logistics and payment challenges. The basis for its robustness is to take the stress of logistics, administrative and payment challenges off the institutions, as they focus on meeting their year-long, medium and long-term objectives.

The product features and benefits include; e-Learning, virtual library and facilitation of exchange programmes with foreign educational institutions; academic & student events/time-table/calendar management; school fees payment via the internet; online information and result checking; interactive community forum between students and teachers. It also affords applicants the opportunity of enrolling from the comfort of their homes or any location around the world; no licensing, installation and maintenance cost and plugs avenues for revenue leakages amongst others.

According to Chuma Ezirim, Group Executive, e-Business & Retail Products, First Bank of Nigeria Limited, “with FirstEdu, private schools across the various tiers of education in Nigeria; elementary, secondary and tertiary, have the right tool to boost their business to the level they desire. With over N5 billion loans already disbursed to schools this year alone, we are committed to supporting growth in this key sector of our economy.”’

For further information on FirstEdu, visit the FirstBank branch nearest to you or contact us on our social media channels.

Continue Reading