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Access Bank champions sustainability goals through CSR projects
Access Bank as a financial institution dedicated to impacting lives has developed initiatives to support different aspects of society. Herbert Wigwe, the Group Managing Director/ CEO of Access Bank at a press conference with World Finance stated that “Over the past decade, our sustainability journey has led us to restructure our business operations and develop new strategies that aim to create a brighter future for our customers and the wider world, this journey has not been easy, but our commitment remains unwavering. It is, after all, the only approach that can deliver long-term prosperity.”
Taking a look into these initiatives, which range from gender equality to youth empowerment, Access Bank has set a benchmark for other financial institutions. The-Malaria-to-Zero innovation was set in place as a financing platform to aid private sectors to get the equipment and resources necessary to abate at least one million malaria cases and deaths by 2020. The “W” Initiative was created to empower women entrepreneurs in the society; it includes skill development programs exclusive to women, mentoring programs, and maternal health services which are aimed at the development and strengthening of women in society. Sponsorship of the Access Lagos City Marathon was kicked off to enhance economic development as well as promoting sports and a fitness lifestyle in the country.
Furthermore, health awareness programs have been structured to support the World Health Days, with offerings such as free testing, medication, counselling and consultation, symposia, conferences, walkathons, community engagements, and media campaigns. These are executed locally and across every area of the country to raise awareness about the different health-related issues in society. The Green Bond initiative was created to finance environmentally friendly projects, these projects cover renewable energy, flood defence and agriculture irrigation projects. The benefits of the Green Bond project include funding a range of climate-related initiatives, access to capital for sustainability-related projects, attract new investors and also transition from fossil fuel.
The diverse CSR initiatives that Access Bank has championed have opened up a new world to the society through economic growth, inclusive banking and global placement. It has also set a standard for other financial institutions to grow the society in which they thrive. This, in the long run, has created an eco-system where sustainability takes precedence over short term investment.
FirstBank, a leading financial institution and provider of financial inclusion services in West Africa, announces the achievement of ₦1 trillion in cumulative instant digital loan disbursements. This accomplishment further consolidates the Bank’s reputation for innovation, leadership in financial inclusion, and commitment to customer empowerment within.
Since its inaugural digital loan in August 2019, FirstBank has developed an unconventional and robust digital lending ecosystem designed with Artificial Intelligence and Machine Learning, to improve access to finance, especially to the high-risk customer segment. The Bank created a multi- channel loan disbursement service that requires no collaterals, zero documentation and is void of human interactions. Through its FirstAdvance, FirstCredit and AgentCredit products, 1.5 million unique borrowers enjoyed instant and secure access to credit. This is irrespective of whether they are salary earners, non-salary earners, or micro business owners. They also have the convenient options of accessing these loans through platforms such as *894# (FirstBank’s USSD service), FirstMobile, LitApp and the FirstMonie Agent App.
Regarding this milestone, Chuma Ezirim, Group Executive, e-Business & Retail Products at FirstBank, stated: “This success underscores our ongoing commitment to innovation and a customer-focused approach, which are central to FirstBank’s core values. Beyond achieving substantial figures, we remain dedicated to fostering opportunities for financial independence across Nigeria in particular, and in Africa at large.’’
He added, “We value the trust our customers place in us to support their financial aspirations. Our efforts to advance digital lending will persist, especially to the excluded and underserved customer segments, while effectively managing risks in the process.”
FirstBank currently disburses about N1 Billion daily in digital loans, demonstrating its commitment to fostering an inclusive, technology-driven future for Nigerians. By consistently investing in advanced technologies and developing customised financial solutions, the Bank seeks to improve the financial well-being of individuals and businesses across the nation.
FirstBank, the West Africa premier financial institution and financial inclusion services provider, has strengthened its partnership with the United Nations Global Compact (UNGC) to reaffirm its commitment to driving sustainable finance and unlocking capital for development. This ongoing partnership was reinforced at the recently concluded Fourth International Conference on Financing for Development (FfD4) hosted by the United Nations Department of Economic and Social Affairs (UN DESA) in Seville, Spain.
The FfD4 Conference brought together global leaders, policymakers, and private sector experts to discuss innovative solutions to address the growing SDG financing gap and unlock capital for development in fragile and underserved regions.
FirstBank’s Chief Risk Officer, Patrick Akhidenor, represented the bank at the conference and highlighted two FirstBank flagship initiatives driving resilience finance in Nigeria: The Solar Equipment Financing initiative and the revamped FirstGem Fund. The Solar Equipment Financing initiative offers tailored financing options for the purchase and installation of solar power systems, ensuring access to clean, reliable, and affordable energy solutions. The FirstGem Fund, a women-focused proposition, provides single-digit interest loans to women entrepreneurs without collateral requirements, targeting funding gaps in critical sectors.
‘’We are committed to driving sustainable finance and unlocking capital for development,” said Patrick Akhidenor. “Our partnership with UNGC and participation in the FfD4 Conference demonstrate our dedication to innovative finance solutions that address the SDG financing gap.”
Sanda Ojambo, CEO of UNGC, emphasized the need for innovative, inclusive financial models for underserved regions. “The private sector must play a central role in shaping fit-for-purpose, scalable finance solutions,” she said. “De-risking tools and blended finance can help unlock capital and drive meaningful impact.
FirstBank’s partnership with Development Finance Institutions (DFIs) and its SMEConnect hub demonstrate its capacity to lead efforts in sustainable finance. The bank provides training, networking, and tailored financing to SMEs across various sectors, including education, healthcare, and retail
Access Holdings PLC, the parent company of Access
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