Wema Bank partners with NBC & SMEDAN for Women in Business

In a joint collaboration, Wema Bank, Naija Brand Chick (NBC) along with Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) promotes intra-continental trade while empowering women in business being with NBC Trade Fair in London.

The trade fair shall take place on August 17 and 18, 2024. During the declaration of the trade fair, Wema Bank articulated that the alliance has been made with an intent of gap bridging between Nigerian exporters and the global market. It will facilitate the collections of foreign exchange while driving socioeconomic transformation in favour of women in Nigeria.

Ayodele Olojede, Divisional Head of Retail and SME at Wema Bank stated that this collaboration between the firms looks forward to address the challenges that women face in international trade where only businesses’ 15% is engaged in women-led international trades, as per World Trade Organization (WTO).

She said, “In Africa, women only produce one-fourth of the total generated exported value, despite making up 50 per cent of the population. As a purveyor of wealth for over 8 decades, we understand that the economic prosperity of our people is directly related to ours. Africa, especially Nigeria, can only grow if we trade amongst ourselves and with other countries, regions, and continents.”

Adding to the statement, she stated, “Through this partnership, we aim to increase investment, integrate Nigerian exporters into the global value chain, and facilitate foreign exchange collections using digital collection tools. The partnership will also provide shared market insights, business networking opportunities, and financing to support women in business.”