In the last decade, Nigeria’s finance industry has made significant strides in increasing the representation of women. No sector’s success is more quantifiable than that of the banking sector. At the publishing of this report, of Nigeria’s 24 commercial banks, eight have women as Chief Executive Officers (CEO), a historic
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Women’s financial inclusion and economic empowerment are critical building blocks in development. Between now and 2030, the target date for the United Nations Sustainable Development Goals, the inclusion of women in the financial sector and their economic engagement and empowerment will unlock major milestones on the road to a more
By Jennifer Iwueze, Women’s World Banking Research Specialist Among Nigerian consumers, spending on e-commerce currently accounts for an estimated $12 billion per year. By 2025, that spending is projected to swell to $75 billion in annual revenues. Numerous factors are driving significant growth in this sector, including an increase in
By Tokunboh Ishmael, Managing Director and co-Founder, Alitheia Capital What is good for gender equality is good for the economy and society as well. – McKinsey & Company An estimated 120 million Nigerian women are susceptible to the health consequences of firewood use. Of this, about 95,000 die each year
By Mehrdad (Mehi) Mirpourian, Senior Data Analyst, Research, Monitoring and Evaluation, at Women’s World Banking “There have been as many plagues as wars in history; yet always plagues and wars take people equally by surprise.” – Albert Camus, The Plague Introduction Businesses function in environments that are agile and hard
Collaboration in Nigeria: Key Takeaways from the Making Finance Work for Women Digital Financial Inclusion round-table discussion
This post was written in collaboration with CBN In January this year, the Central Bank of Nigeria (CBN) unveiled the revised National Financial Inclusion Strategy (NFIS 2.0). NFIS 2.0 has set a target of a national exclusion rate of 20% by 2020 (down from 46.3% in 2010). In order to
Women’s World Banking partnered with the Central Bank of Nigeria to convene key stakeholders in Lagos to discuss current barriers and forward-thinking strategies that will make financial services and products more accessible for women.
The lessons we’ve learned from this work have formed the foundation for our new strategy to advance financial inclusion for women at scale globally.
In order to better serve low-income women in Sub-Saharan Africa with financial products, Women’s World Banking and Financial Sector Deepening Africa (FSDA) partnered together to increase the capacity of leading financial institutions in Nigeria, Tanzania and Malawi.
Women’s World Banking applied different approaches in Nigeria and Pakistan to increase both the acquisition of women customers as well as women’s engagement with digital financial services.
The Central Bank of Nigeria announced that the country would not be meeting its 2020 financial inclusion targets. Nevertheless, developments in biometric ID, regulatory sandbox, industry partnerships and agent network growth are on the horizon to put the country back on track.
Diamond Bank CEO Uzoma Dozie chats with CNBC Africa on the bank’s partnership with Women’s World Banking and FSDAfrica.
Women’s World Banking hosted a workshop in Nigeria for our partners on advancing women’s financial inclusion through digital financial services.
Women’s World Banking hosted a digital financial services workshop in Nigeria to facilitate peer learning among financial institutions leveraging digital technology to serve low-income women.
PRESS RELEASE | Diamond Bank, Women’s World Banking host global discussion on digital financial services for women
Diamond Bank today joins Women’s World Banking to host a global discussion on the role of digital financial services in empowering low-income women who do not have access to formal financial products. During a three-day workshop, discussants from the Central Bank of Nigeria, MTN Nigeria, Diamond Bank Plc, Jazz of Pakistan, BIMA of Cambodia and Women’s World Banking will examine the best practices in developing, enhancing and delivering world-class digital financial services to women.
Agency banking is one of the most promising that can overcome women’s obstacles to financial access.
Our team applied user experience testing to optimize mobile banking services for low-income women in Nigeria.
An interview with the Head of Financial Inclusion at Diamond Bank (Nigeria) on the bank’s push to serving the unbanked, especially low-income women.
Women’s World Banking went to Lagos to join Diamond Bank in launching their agency banking model for Nigeria’s un- and underbanked population.
A case study on the experience of Nigeria in implementing promising approaches to gender-focused financial inclusion policies.
Our latest project with Diamond Bank in Nigeria, Y’ello, is highlighted.
Women’s World Banking worked with Diamond Bank to design a loan that uses clients savings behavior to help them get access to credit quickly and easily.
Women’s World Banking worked with Diamond Bank to conduct extensive research on the Nigerian youth market to design savings accounts that fit their specific needs.
Produced by Diamond Bank (2015)
Cathleen Tobin is cited in this article about financial inclusion in Nigeria.
Director of Product Development Cathleen Tobin discusses how Diamond Bank leveraged technology to reach the low-income market.
In 2012, an estimated 64 percent of Nigerians were unbanked and had never accessed any formal financial services or products, a number that is higher for women: nearly 73 percent of all Nigerian women are unbanked. This number does not include figures for the underbanked—men and women who have had
Diamond Bank PLC has announced its 2013 Quarter 3 results, reporting a 10% growth in profit before tax when compared to the corresponding period of 2012. The bank posted a profit before tax of N25.6 billion.
Women’s World Banking and Diamond Bank (Nigeria), with the support of Visa, developed a savings product to promote financial inclusion for low-income un(der)banked women in the country.
The Post Nigeria featured the launch of BETA Savings, a project Women’s World Banking developed with Diamond Bank to provide easy savings accounts to low-income women in Nigeria.
A growing chorus of voices is calling for a shift away from cash-based economies in the developing world. For governments, non-governmental organizations and companies focused on expanding financial access to the underserved, it is fast becoming a top priority. Not only is it too costly and unsustainable to reach people