Access Bank’s Victor Etuokwu on the role of women to the financial services sector

Women empowerment and gender equality are not just economic issues but crucial for the evolution and sustainability of society. This assertion was made by Victor Etuokwu, Executive Director at Access Bank, during an interview with CNBC Africa's Christy Cole at the 59th Annual General Conference of the NBA. Etuokwu highlighted the pivotal role of women in driving economic growth and emphasized the importance of empowering women across various sectors to achieve societal advancement. Access Bank's strategic collaboration with the NBA over the past decade has facilitated initiatives to support women in business, young professionals, and families, aiming to enhance financial inclusion and create a more equitable society. Access Bank recognizes women as a significant economic force, with women accounting for 92% of household expenditure. Etuokwu emphasized that decision-makers in industries such as banking and financial services must understand and engage with this influential demographic to drive business success. In line with this commitment, Access Bank established a dedicated department called the Women Bank and Team, focusing on empowering women through the 'W initiative'. This initiative incorporates women into various programs, including young professionals, women in business, and women and family segments, providing financial and capacity-building support. One of Access Bank's notable achievements in empowering women in business is the provision of over one billion in loans to female entrepreneurs last year. These initiatives aim to not only support women in business but also recognize the critical role women play in advancing families and communities. Etuokwu emphasized that the empowerment of women is essential for addressing societal challenges such as poverty and crime, which are often rooted in the lack of opportunities and support for women. Furthermore, Access Bank extends its support to families facing challenges in conceiving children through programs like in vitro fertilization (IVF). By offering financial assistance for IVF treatment, Access Bank has enabled families to fulfill their dreams of having children, symbolizing the bank's commitment to building a more inclusive and supportive society. Etuokwu highlighted the significance of these initiatives in not only providing financial support but also in addressing deeper societal issues and promoting overall well-being. The collaboration between Access Bank and the NBA underscores the importance of creating an enabling legal environment that supports gender equality and women empowerment. By advocating for laws that are fit for purpose and advancing initiatives to empower women across sectors, Access Bank aims to drive sustainable economic and social progress. Etuokwu emphasized that the bank's focus is not solely on financial gains but on contributing to the development and upliftment of society as a whole. In conclusion, Access Bank's unwavering commitment to gender equality and women empowerment reflects a broader societal vision of inclusivity and progress. Through strategic partnerships, dedicated initiatives, and a holistic approach to empowerment, Access Bank is not only transforming the financial services sector but also contributing to the advancement of women, families, and communities at large.