Access Bank Expands Women’s Empowerment, Relaunches ‘W’ Initiative in Southern Africa

Nume Ekeghe

Access Bank Plc has reaffirmed its commitment to empowering women in Southern Africa by relaunching its flagship ‘W’ Initiative in Zambia and Botswana.

As part of the bank’s broader strategy to drive financial inclusion and economic growth, the initiative offers an array of financial services specifically tailored to meet the needs of women, ranging from savings products to business loans and mentorship programs.

Access Bank in a statement yesterday, noted that the revamped ‘W’ Initiative seeks to elevate women in business and leadership by offering customised financial solutions, promoting financial literacy, and creating opportunities for professional development.

Speaking at the relaunch event in Zambia, Deputy Managing Director of Access Bank Plc, Chizoma Okoli, emphasised the transformative potential of these programs.

She said: “Empowering women is a cornerstone of Access Bank’s mission to drive economic growth across Africa. Through the ‘W’ Initiative, we aim to provide tailored financial solutions while fostering environments where women can thrive as business owners, professionals, and community leaders.”

It also stated that during her visit to Zambia, Okoli met with Zambia’s Vice President, Mrs. W.K. Mutale Nalumango, to discuss strategies for improving women’s participation in the nation’s economic development.

In support of the country’s welfare programs, Access Bank Zambia pledged K500,000 towards nutritional programs overseen by the Vice President’s office. Nalumango lauded Access Bank’s efforts, underscoring the essential role women play in driving Zambia’s economy.

“It is crucial for women to recognise the value they bring and be vocal about their achievements. Self-promotion and self-advocacy are critical for women and girls to advance, and initiatives like the ‘W’ Initiative provide the support they need,” Nalumango stated.

In Botswana, Access Bank also relaunched the ‘W’ Initiative, introducing a range of innovative financial products designed specifically for women, including health, vacation, and educational loans, as well as high-interest savings accounts.

Managing Director of Access Bank Botswana, Sheperd Aisam, described the initiative as a “transformative platform” that provides not just financial products but also the tools and networks women need to succeed.

“We are proud to launch the ‘W’ Initiative in Botswana. Our goal is not only to provide financial products but to inspire and empower women across all sectors of society,” Aisam noted.

Access Bank has long been a champion of gender equality, investing over N338.6 billion in financing for more than 3.6 million women across Africa. One of the initiative’s key offerings is the ‘W’ Health Loan, designed to support women’s health needs through discounted financing. This product includes the Maternal Health Service Support (MHSS), which provides financing for fertility treatments, natal care, and specialized health services. The MHSS, currently active in Nigeria, Ghana, Rwanda, Mozambique, and Zambia, has already provided financing worth N245.5 million to over 160 women, resulting in the birth of 104 babies.

Running in 12 African countries, the ‘W’ Initiative stands as a testament to Access Bank’s commitment to fostering women’s empowerment.

Through innovative financial solutions and a dedication to social impact, the bank continues to open doors for women to access opportunities that enable them to lead, grow, and succeed in their personal and professional lives.