Unity Bank launches Yanga account

Nigeria’s retail lender, Unity Bank Plc, has launched Yanga Account, a new retail product designed to deepen beneficial impact on Micro Small and Medium Enterprises  (MSMEs) operated by women in the mass market retail space.

As a product, Yanga is targeted at boosting women entrepreneurs, from promoting the business, capacity building to health insurance schemes for account holders.

• NIGERIA DAILY: Why States Cannot Survive Without Federal Allocation
• Boko Haram forcing parents to withdraw children from schools, Niger raises alarm

The Yanga account holders will enjoy many benefits including stress-free savings and investment, access to the services of dedicated sales agents, agency banking services close to the location of their businesses, special business seminars and training on how to grow business, access to microloans, customized debit cards and other bundled e-banking products.

Speaking at the launch of the product in Abuja on Tuesday, the Managing Director/Chief Executive Officer of Unity Bank Plc, Mrs Tomi Somefun said:  “Yanga Account is being launched as a bold attempt to directly cater to women and their respective businesses.”

“The Account is open to all market women in farming, fashion design, tailoring, frozen food, pastry and baking, cosmetics, jewellery designs and making, skincare, eateries and restaurants, etc. whether living in the communities or cities.”

She explained that Yanga Account is about making sure that women who make up 55% of the financially excluded Nigerians have access to basic and life-changing financial services.”

Also, speaking, Group Head, Retail, SME Banking and E-Business, Unity Bank Plc, Mr Funwa Akinmade said: “ Yanga is a well-packaged banking product that combines several services that most small businesses owned by women will need to become profitable.

“We are optimistic that Nigerian women will embrace the Yanga Account and leverage its full benefits to grow their businesses.”