August 14, 2022
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Unity Bank seeks to improve women SMEs in Nigeria, launches yanga account – NIGERIAN TRIBUNE

  • November 24, 2021
  • 4 min read
Unity Bank seeks to improve women SMEs in Nigeria, launches yanga account – NIGERIAN TRIBUNE

Tribune Online – Breaking News in Nigeria Today
Unity Bank PLC is seeking to improve Small and Medium Enterprises (SMEs) of women in Nigeria through training, Investment encouragement and micro-financing.
Speaking in Mararaba, Nasarawa State, on Tuesday, at the launch of the Yanga account, the Managing Director of Unity Bank Plc, Mrs Tomi Somefun, said “the Yanga Account is an extremely important step for us as a Bank because it is one step that brings our services closer to my fellow Nigerian women as Unity Bank makes the efforts to further expand its retail footprints in the market.
“At Unity Bank Plc, we have devoted the past few years to constantly innovating with banking solutions to enable us to drive more financial inclusiveness in different market segments, but the Yanga Account is introduced as a bold attempt to directly cater to women and their respective businesses.
“As recent research by Enhancing Financial Innovation & Access (EFInA) has shown, Women need economic opportunities if countries are to realise the full potential of their human capital. Financial inclusion can benefit individuals, families, and businesses, supporting key outcomes such as GDP growth” She stated.
Somefun explained that the “Yanga Account is a woman-centric product that is targeted at empowering women-owned micro small and medium enterprises, MSMEs (both new and existing businesses).
“The benefits for signing up to Yanga Account is what we have summed up as ‘The Yanga Experience’. What this means is that as we target every woman in our mass-market retail space, they will enjoy many benefits including stress-free savings and investment, access to the services of dedicated Sales Agents, Agency Banking services close to the location of their businesses, special business seminar and training on how to grow business, access to microloans, customized debit cards and other bundled e-banking products.
“Yanga account will also be incorporating an affordable Health insurance scheme not only as a part of the product bouquet underpinning the Bank’s belief in health and wellness which translate to wealth creation but also to drive insurance penetration which is presently at 2 per cent in Nigeria.
*We, therefore, believe that this will provide essential ingredients to growing a business as well as adding greater value for Yanga account holders.
“This product is open to all market women whether you live in the village or in the city, it covers all the women who are into all kinds of businesses including farming, fashion design, tailoring, frozen food, pastry and baking, cosmetics, jewellery designs and making, skincare, eateries and restaurants, etc.”
She said the “Yanga Account is conceived and designed for the financial literacy and empowerment of Nigerian women. It is about making sure that our women who make up 55 per cent of the financially excluded Nigerians have access to basic and life-changing financial services.
“At Unity Bank, through products like Yanga Account, we continue to align with the vision of the Central Bank of Nigerian and the financial services ecosystem to provide needed support for Nigerian women by enhancing access to wealth-creating opportunities in the financial services sector,” the MD stated.
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