NAN-HE-15
Membership
By Chinyere Joel-Nwokeoma
Lagos, Jan. 17, 2018 (NAN) Union Bank of Nigeria (UBN) Plc has joined the membership of Business Call to Action (BCtA) with a commitment to provide access to financial services to a minimum of 30,000 people.
The bank made this known in a statement on Wednesday in Lagos.
It stated that the bank would provide financial services to 30,000 people from low income communities in 11 states across Northern Nigeria by 2020.
It noted that BCtA was launched at the UN in 2008 with the aim of accelerating progress toward Sustainable Development Goals (SDGs) by challenging companies to develop inclusive business models that engage people at the base of the economic pyramid.
The bank added that BCtA engages people with less than 10 dollars
per day purchasing power – as consumers, producers, suppliers, distributors of goods and services and employees.
It said that the bank’s membership of BCtA reaffirmed its leadership in, and commitment to inclusive and sustainable business initiatives, especially for those at the base of the pyramid.
The statement indicated that the bank’s initiative under BCtA was expected to tackle financial exclusion in the North through dedicated financial products and channels.
It added that “this commitment includes the “Project North” initiative, an innovative and strategic approach for the bottom of the economic pyramid, in areas of Nigeria where economic activities are gradually recovering following the eight year-long battle against terrorist insurgency.”
The statement pointed out that the bank had launched UnionKorrectDaiDai under Project North, a tenored savings product in selected states across Northern Nigeria for the benefit of low income earners.
It quoted Mr Emeka Emuwa, the bank’s Chief Executive Officer, as saying “joining BCtA would galvanise private sector participation.
“Joining Business Call to Action is a logical step for us as we work to galvanise private sector participation in developing Nigeria following our call to action for a N100 billion fund.”
Emuwa said the bank would continue to develop sustainable products and services that would address poverty and financial inclusion in line with its commitment to support communities where
it operate. (NAN )
JNC/HA
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Edited by Hadiza Mohammed-Aliyu