Wema Bank Partners NBC, SMEDAN to Empower Women in Business

Kayode Tokede

Wema Bank has partnered with Naija Brand Chick (NBC) and Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) to promote intra-continental trade and empower women in business. 

This was disclosed yesterday at a briefing to announce the trade fair, which would hold August 17 and 18 in London. 

Speaking, Divisional Head, Retail and SME, Wema Bank, Ayodele Olojede said the partnership seeks to address the challenges faced by women in international trade, where only 15 per cent of businesses engaged in international trade are led by women, according to the World Trade Organization (WTO).

“In Africa, women only produce one-fourth of the total generated exported value, despite making up 50 per cent of the population. As a purveyor of wealth for over 8 decades, we understand that the economic prosperity of our people is directly related to ours. Africa, especially Nigeria, can only grow if we trade amongst ourselves and with other countries, regions, and continents.

“Through this partnership, we aim to increase investment, integrate Nigerian exporters into the global value chain, and facilitate foreign exchange collections using digital collection tools.”

Also speaking, the Director General of SMEDAN, Charles Odili applauded the efforts of Wema Bank at empowering women owned businesses and SMEs in the country in recent years, saying that the agency would be collaborating with the bank to make the London event a success.

He revealed that his agency would work with relevant government agency to make sure all the entrepreneurs who would be going to London for the exhibition are granted visa. 

Also speaking, Tola Johnson Special Assistant to the President on Job Creation, Office of the Vice President, lauded the bank’s initiative at empowering SMEs and women in recent years through the Sara initiative.

Jhonson said his office was ready to partner with the Wema Bank on programs in the next few months to boost SMEs and create jobs for Nigerians, especially the youth.