Union Bank has partnered with its parent company, TGI Group and Women’s World Banking, to introduce the ‘Digital Supplier Credit’ solution under its women’s banking proposition, álpher.
The ‘Digital Supplier Credit’ solution is designed to address the financial needs of women-led small businesses in urban centres in Nigeria centres and provide access to credit for stock sustenance, replenishment, and progressive growth, along established supply lines from Fast-Moving Consumer Goods (FMCG) companies.
Leveraging behavioural science and the Women’s Centred Design methodology and backed by the London Stock Exchange Group (LSEG) Foundation, this initiative aims to co-create a sustainable and scalable solution that will significantly enhance access to financial services for women entrepreneurs.
Women’s World Banking is a renowned global organisation specialising in designing and investing in financial solutions, institutions, and policy environments within emerging markets.
Their focus on creating economic stability and prosperity for women, their families, and communities aligns perfectly with the objectives of the ‘Digital Supplier Credit’ solution. With an extensive network spanning 34 countries, serving more than 160 million women clients through 69 financial services providers, Women’s World Banking has consistently driven impact through scalable, market-driven solutions, gender lens private equity funds, and leadership and diversity programs.
Speaking about the partnership, Vivian Imoh-Ita, Head of Retail Banking and Digital at Union Bank, said, “We are delighted to partner with Women’s World Banking and our parent company TGI Group to launch the ‘Digital Supplier Credit’ solution. Our commitment to empowering women-led businesses remains unwavering, and we believe this initiative will have a transformative impact on the entrepreneurial landscape in urban centres. Through this collaboration, we aim to foster financial inclusion and catalyse sustainable growth for women entrepreneurs.”