Access Bank Plc has entered into partnership with the Lagos State Employment Trust Fund (LSETF) to launch the LSETF W Initiative aimed at economically empowering women in the state.
The initiative, which has a total loan portfolio of N10billion, is targeted at women-owned businesses (with at least 50% ownership share) in operation for 1-5 years.
In his address, Access Bank Group Managing Director, Herbert Wigwe said: “Access Bank is fully committed to bridging the existing gap and provide women with the support they need to successfully implement their business ideas”.
He added: “Looking at the number of women present here today, I don’t think the initial N4billion we set aside to help women will be sufficient and based on that, the initiative fund will be increased to N10billion. Through partnerships with organisations such as LSETF, Access Bank will continue to help women break boundaries, reinvent the status-quo and take advantage of opportunities provided by technology and quality financial systems to make significant impact on the economy of Lagos State and Nigeria as a whole.”