Sterling empowers 2,500 female entrepreneurs, moves to ‘democratise’ credit access
Sterling Bank
Sterling empowers 2,500 female entrepreneurs, moves to ‘democratise’ credit access.
Sterling Bank Plc continues to push the borderlines of the bank as Nigerians know it, with the Managing Director, Abubakar Suleiman, disclosing at the weekend that the institution is extending credit to all its customers.
Engaging thousands of his followers on X (formerly Twitter), Suleiman said customers could access N1 million at the 48-hour zero-cost window, one per cent flat-fee after 48 hours and monetary policy rate (MPR) plus seven per cent (34.5 per cent at the current MPR) after seven days.
The conditions, he said, reflected the bank’s commitment to “fair credit access”.
Sterling Bank had recently waived transfer charges for its customers and followed up with free bus commuting, telling its competitors that this is the way to go. With its latest offering, the bank may ‘democratising’ credit access.
Meanwhile, Sterling Bank’s OneWoman initiative is empowering 2,500 female entrepreneurs by giving them free access to the Goldman Sachs 10,000 Women online programme.
In partnership with the International Finance Corporation (IFC), the initiative is equipping female entrepreneurs with the skills and resources to scale their businesses and drive growth.
The comprehensive curriculum, which is delivered through the University of Leeds, equips business owners with practical tools for their business growth, covering essential areas including financial management, marketing, leadership and expansion strategies.
The programme stands out for its emphasis on real-time application, allowing entrepreneurs to immediately implement their learning for tangible business improvements.
Group Head of Consumer Finance at Sterling Bank, John Obichie, emphasized the impact female entrepreneurs have been at the heart of shaping the Nigerian economy of the future and Sterling Bank is committed to accelerating their success.
“Through this initiative, we are going to equip 2,500 women with world-class business education, strategies, and networks they would need to scale. So, we are not just supporting businesses but creating a pathway for growth and global scale to compete,” he said.
