Stanbic IBTC Raises Women’s Hope, Launches Blue Blossom Community

Omolabake Fasogbon

Stanbic IBTC Holdings, a member of Standard Bank Group has unveiled its “Blue Blossom Community”, in support of women’s cause across the country. 

According to the organisation, the Blue Blossom community is a gathering of women from diverse backgrounds to support each other, while leveraging various benefits offered by the financial institution to meet the unique needs of the Nigerian woman.

The bank noted that the initiative arose from the existing gender inequality in financial services limiting women’s potential. 

The World Bank findings revealed that women comprise 43.83% of the labour force, while 43% of businesses worldwide are owned by women.

But according to Rockefeller Philanthropy Advisor (RPA)’s Gender Centre of Excellence, 98% of women still lack access to formal credit markets inspite of their prospect and contributions to economic activities.

The limitations also extend to education and healthcare and economic autonomy, amongst others.

Executive Director, Business and Commercial Banking at Stanbic IBTC, Remy Osuagwu reiterated that women are the backbone of the society and should be accorded maximum support. 

He added that the community was initiated to break barriers for women as young as 18, and ease their access to financial and non-financial services as well as nurture them into their best versions. 

He said, “When women are exposed to and groomed in the art and science of business, coupled with receiving equitable financial services with affordable credit facilities, their potential for growth, leadership, and success is boundless.”

Also, Executive Director of Stanbic IBTC Trustees Limited, Emi Agaba-Olojo urged women to maximise their gifts of organisation and nurture in business, career, and family. 

Agaba-Oloja listed more benefits of the community as free business clinic, career or business development sessions, mentorship through masterclasses and access to chess account for children or wards, amongst others. 

The bank’s Head of Consumer Clients, Sadiya Ojo added, “The community is open to every woman, and you do not necessarily need to own an account with Stanbic IBTC to be a member of the Blue Blossom community. However, to have unhindered access to financial services, you may need to open an account.”