As a product targeted to boost the Nigerian women
entrepreneurs, the initiative was intended to create Yanga Experience, from
promoting the business, capacity building to health insurance scheme for Yanga
Account holders.
A statement by the Bank said that the benefits for signing
up to Yanga Account are summed up as ‘The Yanga Experience’. This means that as
we target every woman in the mass-market retail space, the Yanga account
holders 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.
Speaking at the launch of the product in Abuja on Tuesday,
the Managing Director/Chief Executive Officer of Unity Bank Plc, Mrs. Tomi
Somefun stated the “Yanga Account is being launched as a bold attempt to
directly cater to women and their respective businesses.”
The Unity Bank Boss, therefore, asserted that the Account
“is open to all market women in farming, fashion design, tailoring, frozen
food, pastry and baking, cosmetics, jewellery designs and making, skincare,
eateries and restaurants, etc. whether living in the communities or cities.”
“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% of the financially excluded Nigerians have access to
basic and life-changing financial services.”
Recent research by Enhancing Financial Innovation &
Access (EFInA) has shown that “Women need economic opportunities if countries
are to realize the full potential of their human capital. Financial inclusion
can benefit individuals, families, and businesses, supporting key outcomes such
as GDP growth”.
Speaking further, Somefun said: “The 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% 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.
“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”.
Also, speaking, Group Head, Retail, SME Banking and
E-Business, Unity Bank Plc, Mr. Funwa Akinmade said: “the official launch of
the Yanga Account is an extremely important step for us as a Bank because it is
one step that brings our services closer to 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.
“Unity Yanga is a well-packaged banking product that
combines several services that most small businesses owned by women will need
to become profitable. We are optimistic that Nigerian women will embrace the
Yanga Account and leverage its full benefits to grow their businesses.”
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