Sterling Bank Plc said it is prepared to extend credit worth N1 billion to businesses founded by women across the country with a free interest rate for the first 30 days.
Managing Director and Chief Executive Officer (MD/CEO) of the bank, Abubakar Suleiman, disclosed this in Kano while presenting the keynote address at the fifth edition of the Women Founders Conference.
According to him, the bank is also set to invest another $100,000 in the next two years in such businesses. He noted that the best businesses are those set up to solve social problems.
Suleiman told the audience that as entrepreneurs, women would always be exposed to diverse opinions but that they should always remember why they set up those businesses.
“When a customer continues to validate the product or service of a business as a solution to a problem, then everyone will queue behind it,” Suleiman said.
Head of Sterling’s OneWoman proposition, Ifunanya Ugboko, also said “the collaboration with the Women Founder’s Conference is evidence of Sterling’s commitment to enriching women’s lives”.
Also speaking, a co-founder of Startup Kano, Aisha Tofa, said the project was set up to create a platform for young people to interact, network and provide solutions.