At its headquarters in Lagos on Tuesday, Access Bank Plc, the biggest commercial bank in Nigeria, organised a unique roundtable conversation on women’s empowerment in the events industry as part of its revolutionary “W” Initiative.
The “W” Initiative is positioned to offer specialised solutions to solve the rising issues in Nigeria’s event industry, underscoring the bank’s commitment to promoting growth and offering customised solutions for an ever-changing, dynamic, and influential industry.
The “W” initiative, which serves as a one-stop shop for all of Access Bank’s services pertaining to women’s empowerment, is ready to increase the capacity of female entrepreneurs who currently rule the event industry. This is because the bank goes beyond internal strategies and engages with industry stakeholders directly in order to gain a thorough understanding of their goals and challenges through a strategic roundtable discussion.
The roundtable featured insightful breakout sessions where attendees were segmented into sub sectors such as event decorations, rentals, and event planning. Representatives from Access Bank and the W Initiative led constructive discussions, actively listening to the specific needs of each sub-segment.
Increased moratorium periods, reduced lending rates, installment payment options for necessary equipment, exhibition platforms for brand awareness, faster loan acquisition documentation processes, and easy account creation procedures were among the barriers to scale that attendees voiced. Concerning these issues, Abiodun Olubitan, Group Head of Women Banking at Access Bank Plc, said: “You hear a lot of people talk about loans and they want support and training.” All I hear when they say support is that we already have loans and training. You might be waiting for that, though, since we might not refer to it by a name like “loan for caterers.”
“There is a big umbrella of loans which we call the W Power Loan which is available for market expansion or business expansion as the case may be. It’s available for working capital. It’s available for asset acquisition, every of those loan needs fall into this basic category. So, already, we have something for them but then, we are now trying to bring it to their fore.” She added.
Access Bank Plc’s Gbemisola Ajibulu, Team Lead for Women Banking, emphasised the importance of the events industry, which is estimated to be worth over N20 billion, as well as the bank’s commitment to developing solutions that are functional and meet the specific requirements of this emerging market.
For industry participants, the event offered a useful networking opportunity as well. During her captivating presentation, “Optimising Social Platforms for Brand Visibility,” brand storyteller Bolanle Olosunde-Jenrola gave participants practical advice on how to improve their online presence on social media worldwide.
Attendees included leaders of well-known industry associations such as the Association of Party Planners of Nigeria, Professional Food Service Owners Providers of Nigeria, Lagos Association of Venue Owners, Rental Professional Society of Nigeria, and Nigeria Association of Event Vendors.
One of the highlights was that Ogunmuyiwa Oyelola Sarah, who is very happy about her forthcoming nuptials, won an amazing wedding package that included a media team, a fully decorated event venue, a three-tier cake, traditional Alaga service, and event management and coordination.
Adding, one of the various “W” Initiative sessions designed to empower women in Nigeria’s many industries and regions is the roundtable discussion. About the Initiative “W” The complete hub for women’s empowerment services offered by Access Bank is called the “W” Initiative. These services, which aim to support a more resilient and sustainable society, include mentorship programmes, maternal health programmes, and capacity-building initiatives.
To explore the full suite of W Initiative offerings, visit: https://www.accessbankplc.com/sustainable-banking/our-community-investment/the-w-initiative or follow @thewcommunity on Instagram
