Wema Bank Plc has launched a special gender discount loan offering to mark this year’s International Women’s Day (IWD).
The Divisional Head, Retail Business, Wema Bank Plc. Dotun Ifebogun launched the unique gender loan offering at a webinar with the theme: ‘Challenge Today for an Equal Tomorrow’ held recently to mark the IWD.
Highlighting the offer’s significance, Ifebogun was quoted in a statement to have said it was more than a loan, as it also involves in-depth training.
“With this package, women can now access business loans at a single-digit interest rate. They have insurance cover for the business and themselves. A particular business owner will also have the opportunity of five days of business training at Wema Bank SME Business Training School,” Ifebogun said.
He affirmed that Wema Bank would continue to support women to confront challenges and promote gender inclusion through thoughtful initiatives such as the new loan package, health schemes, business advisory, financial education, among others.
“This year, we have challenged the lack of access to finances for women, with an emphasis on cheaper loan and financial literacy for women through focused training.
“With this offer, we are going beyond just giving funds and raising finance; we extended it to training and expanding the knowledge base of these women to be sure that the people we give this loan can build on it and grow,” Ifebogun said.
The Executive Director, Business Support, Wema Bank, Folake Sanu, opened the webinar that addressed women’s challenging societal norms to reach their potential in entrepreneurship and the workplace.
Team Lead, Business Process Re-Engineering, Wema Bank, Chika Adun moderated the webinar.
Among the panelists at the webinar were Founder, Green Investment Club and certified financial education instructor Tomie Balogun; Global Leadership Development expert Dupe Akinsiun, and Chief Knowledge Officer, Wofin Tech Limited, Omilola Oshikoya.
Reiterating the importance of building capacity and confidence, Akinsiun said women needed to be clear on expectations and standards they set for themselves.
“Avoid cultural limitations and mindsets, acknowledge your weaknesses and leverage your strengths through the help of others against all odds to rise.
“People struggle because they believe they do not have weaknesses. This breeds internal conflict and makes you feel uncomfortable and see yourself as fake.”
Balogun dwelt on the significance of training, development, and financial literacy regardless of the unstable interest rate and rising inflation.
“Money is just a tool. The way you use it is what makes the difference. When you create wealth, you need to have an abundance mindset and not a scarcity mindset,” she said.
Balogun added, “Take ownership of your personal finance. It is not something you can outsource. It would help if you got financial education to understand how you spend, how you budget, how you save, how to plan and invest.
“You must think about saving and not spend on frivolities. Prepare, build and develop your competence. That is how to aspire. Being perceived as difficult as a boss is not a function of gender but about workplace dynamics.”