Wema Bank Logo.
According to Wema Bank, women and the agricultural sector are the bank’s priorities for the $50 million credit facility agreement from the ECOWAS Bank for investment and development.
The revelation was made during the signing ceremony in Lome, Togo, by Rufai Oseni, the managing director of Wema Bank.
Providing clarification on the facility’s allocation strategy, the head of Wema bank stated, “Banking without impact or value is nothing, which is why we continue to find new ways to positively impact the lives of our customers and our society. Our mission is to empower lives through innovation, and over the years, we have developed innovative ways to achieve it. With each solution, partnership, and initiative, we have evolved into a multifarious support system and enabler across different areas of the national ecosystem and through this partnership, more lives and businesses will be impacted nationwide.” Oseni stated.
George Donkor, the President/Chairman of the ECOWAS Board of Directors, highlighted the significance of women’s empowerment and the necessity of continuing to supply agricultural sector actors with resources to improve production, add value to the ecosystem, and increase trade returns for socioeconomic development and growth.
He acknowledged the contribution of Wema Bank to the growth of the Nigerian economy and emphasised the role the credit facility plays in advancing the Sustainable Development Goals.
Additionally, it supports SDGs 2 and 5. SDG 5 addresses gender equality, and SDG 2 emphasises the need to guarantee food security for all people, including those living in subregions and the global community, according to Donkor.