Wema Bank Unveils Product for Women

Wema Bank, the custodian of Nigeria’s first fully digital bank, ALAT, announced its women proposition – Sara by Wema – at the 2019 Songversation with Aramide. The event was a night of conversation and music, which took place recently, at Terra Kulture in commemoration of the international women’s day.

Speaking at the unveiling, Managing Director/CEO of the bank, Mr. Ademola Adebise, in a statement, described Sara by Wema as “a vibrant community designed to give the Nigerian woman the capacity to participate in, wholly contribute to and fully benefit from growth opportunities that help maximise their personal and /or business goals.”

He said the initiative was prompted by the management’s conviction that women across all socio-economic background deserve to attain their desired goals and aspirations.

“The concept is designed to grow with women – as their expectations evolve, Sara will too,” he added.

On the benefits accruable to women from the community, Adebise listed access to low interest business loans, assistance with a business pitch to access specialised funding from different institutions, free SME support and business advisory services, deals and discounts with different partners, and access to high interest savings plans are some of the gains.

According to him, women are also open to capacity building through financial literacy and career/business development training; discount at select women-owned businesses; access to automatically open Royal Kiddies and Purple Account for children, wards and staff as well as access to attend Wema Women Network events.

Adebise, highlighted the importance of women to economic development process of any nation; stating that from the family level to the national level their contribution to the development process cannot be underestimated.

Corroborating him, the Executive Director, Business Support, Wema Bank, Mrs. Folake Sanu, who was also present at the event, said Sara by Wema is open to all Nigerian women across all socio-economic classes.

She added that the community specifically targets female-owned and managed SMEs, registered and unregistered businesses, start-ups, and mothers, workers and salaried women, and low income earners.

Sanu, also revealed that to join the Sara community, prospective woman can sign up on ALAT or visit any branch of Wema Bank once they present a government-issued identity card (driver’s license, voter card, international passport or national identity card) and a utility bill not older than three months.