Nigeria’s largest commercial bank, Access Bank Plc hosted a one-of-a-kind roundtable discussion under its transformative “W” Initiative, focusing exclusively on empowering women in the events sector at the bank’s headquarters on Tuesday in Lagos.
This initiative underscored the bank’s commitment to fostering growth and providing tailored solutions for the ever fast changing, dynamic and influential industry as the “W” Initiative is poised to proffer customized solutions to address the emerging challenges in Nigeria’s Event Industry.
The “W” initiative, a one-stop center of all Access Bank’s women empowerment offerings is fully prepared to boost capacity of female entrepreneurs who currently dominate the event sector as the bank goes beyond internal strategies and engages directly with industry stakeholders to gain a profound understanding of their challenges and aspirations 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.
Attendees voiced their challenges to scale including increased moratorium periods, lower interest rates, installment payment plans for essential equipment, exhibition platforms for brand visibility, streamlined documentation processes for loan acquisition, and seamless account opening procedures.
Abiodun Olupitan, Group Head of Women Banking at Access Bank Plc, addressed these concerns, stating:
“You hear a lot of people talk about loans and they want training and support. When they say support, everything I hear is loan and training and that already we have. However, we might not call it a name (like) ‘loan for caterers’, so maybe you’re waiting for that.”
“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 concluded.
Gbemisola Ajibulu, Team Lead for Women Banking at Access Bank Plc, highlighted the significance of the events industry, valued at over N20 billion, and the bank’s dedication to creating fit-for-purpose products that cater to the unique needs of this burgeoning sector.
The event also provided a valuable networking opportunity for industry players. Brand Storyteller, Bolanle Olosunde-Jenrola led an engaging session titled: “Optimizing Social Platforms for Brand Visibility,” equipping attendees with actionable strategies to enhance their global brand presence through social media.
Leaders from prominent industry associations, including the Rental Professional Society of Nigeria, Association of Venue Owners of Lagos, Professional Food Service Owners Providers of Nigeria, Association of Event Vendors of Nigeria, and Association of Party Planners of Nigeria, were also in attendance.
As a highlight, Ogunmuyiwa Oyelola Sarah, an excited bride-to-be, won an extraordinary wedding package comprising a fully decorated event centre, a three-tier cake, traditional Alaga service, event management and coordination, and a media team – all complimentary for her upcoming nuptials.
The roundtable discussion is one of many “W” Initiative sessions aimed at empowering women across diverse industries and regions in Nigeria.
About the “W” Initiative
The “W” Initiative is Access Bank’s comprehensive centre for women empowerment offerings. These offerings encompass capacity-building programs, mentorship opportunities, and maternal health services, all designed to contribute to a stronger, more sustainable society.
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.