Wema Bank has empowered over 500,000 Nigerians with approximately N109 billion through its Corporate Social Responsibilities (CSR) and Corporate Social Investment initiatives across the country. The bank disclosed that it provided uncollateralized loans totaling N58.9 billion to women-led MSMEs via the SARA initiative and invested N50 billion in its Sustainable Finance scheme, among other impactful programs.
Transitioning from Corporate Social Responsibility (CSR) to Corporate Social Investment (CSI) since 2018, Wema Bank’s MD/CEO, Mr. Moruf Oseni, highlighted five core Corporate Social Investment pillars: Economic Empowerment, Education, Environment, Finance & Health, emphasizing the bank’s far-reaching impact on beneficiaries nationwide.
The bank launched a Green Energy Finance Facility to support SMEs and individuals in reducing emissions through power generation, offering opportunities for SMEs to access up to N10 million for renewable energy solutions.
Additionally, Wema Bank is dedicated to Sustainable Finance, striving to decrease financed emissions by reducing lending to high climate risk sectors and promoting investments in sustainable segments like renewable energy, waste management, gender finance, and smart agriculture. Over N50 billion has been invested in sustainable businesses, fostering sustainable practices through forums, training, and webinars.
Addressing gender finance gaps highlighted by reports from AfDB and the World Economic Forum, Wema Bank’s SARA initiative aims to bridge the gender equality gap through diverse empowerment programs tailored for women across workplace, community, and marketplace segments.
