Zenith Bank to expand women's access to finance with Z-Woman
Zenith Bank said Z-Woman account holders stand a chance to receive loans of up to N10 million at single-digit interest rate.
Zenith Bank Plc, a leading Nigerian commercial bank, has introduced a new product to its customers, called Z-Woman. The product is aimed at expanding access to financial services to female business owners, thereby empowering female entrepreneurs.
According to a statement released by the bank, Z-Woman account holders stand a chance to receive loans of up to N10 million at single-digit interest rate. With Z-Money, customers will also enjoy free digital skills training and have access to free exhibition stands at Zenith Bank events. The account also provides many other benefits that will help female entrepreneurs grow their businesses and increase sales.
According to the World Bank, women entrepreneurs face significantly greater challenges than men in gaining access to financial services, even though female-owned small and medium-sized enterprises (SMEs) accounted for 30-37 per cent of all SMEs in emerging markets as of 2014. Access to credit can open up economic opportunities for women, and bank accounts can be a gateway to the use of additional financial services.
Group Managing Director/Chief Executive of Zenith Bank Plc, Ebenezer Onyeagwu, said Z-Woman offers women the opportunity to enjoy a partnership with the Zenith Bank brand. "The Z-Woman account is designed to address the unique needs of women-owned businesses and offer them unmatched services that empower them to achieve more," Zenth Bank said in a statement sent to Financial Nigeria.
The bank said its commitment to world-class service standards has led to several recorgnitions and product innovations over the last couple of months, including the “Zenith Timeless Account," which allows Nigerians aged 55 years and above to bank for free. The bank also operates the “Zenith Save for Me”, a high interest target savings account. Its “Dubai Visa Service” on the Zenith Internet Banking platform allows convenient application and payment for visas to Dubai.
Zenith Bank was voted the most customer-focused bank in Nigeria for the Retail and SME segments in the 2018 KPMG Annual Banking Industry Customer Satisfaction Survey (BICSS). Recently, the bank won the Best Bank in Retail Banking and the Bank of the Year at the 2019 BusinessDay Banks and Other Financial Institutions (BOFI) Awards, and was ranked as the Best Digital Bank in Nigeria 2019 by Agusto & Co.
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