9 Payment Service Bank (9PSB), Nigeria’s digital payment service bank, dedicated to enhancing financial inclusion, has reaffirmed its commitment to supporting Nigerian women entrepreneurs and Small and Medium-Scale Enterprises (SMEs) through its agent banking business opportunities. These opportunities aim to boost their revenue and enhance their living standards. This pledge was reiterated at the 2024 South-West Women Chamber of Commerce and Industry Emerging Market Summit and Expo, held at the Lagos State Co-operative Federation (LASCOFED).
The event, themed “Women Entrepreneur as Catalyst for Sustainable Development and Economic Growth,” aimed to empower over 500 women participants with entrepreneurship skills and foster market linkage for economic growth. Attendees included women entrepreneurs and SME owners from across the South-West region, who have been making significant contributions to society through their initiatives and businesses.
During the event, Kunle Isiaka, representing Branka Mracajac, the CEO and Managing Director of 9 Payment Service Bank, commended the resilience and impactful contributions of women to their communities. He emphasized the importance of financially including and empowering women, noting that many lack basic financial knowledge and access to formal financial services, which affects their business operations.
Isiaka referenced a report by EFInA, which highlighted that a considerable percentage of Nigerian adults, particularly women, are financially excluded. Despite this, a significant portion of the population owns mobile phones, presenting an opportunity for digital financial services. In Lagos State alone, millions of adults lack access to formal banking services, with a significant portion engaged in businesses or trading.
In response to these challenges, 9 Payment Service Bank is focusing on consolidating efforts to address financial inclusion gaps. Despite limitations on providing loans due to licensing restrictions, the bank is actively working to support women through agent banking training programs aimed at empowerment.
Isiaka emphasized the importance of strategic partnerships within the industry to drive financial inclusion effectively. Additionally, he highlighted the progress made in establishing a robust agent network, with a significant portion of agents being women. He assured continued support for merchants in the payment services industry through engagement and assistance from Service Location Partners.
9 Payment Service Bank operates as a registered Nigerian bank under the approval of the Central Bank of Nigeria (CBN), offering unique banking services to the underbanked, unbanked, and individuals with bank accounts. Through its fully digital bank and agency network, 9PSB aims to provide seamless online and offline banking experiences for everyone. For more information, visit www.9psb.com.ng.
