EHIME ALEX, Lagos
Polaris Bank Limited has pledged to use its Polaris Pearl Account to equip women entrepreneurs with the requisite knowledge, skills, and support to run businesses profitably.
The announcement came on Monday according to a statement made available to NATIONAL ACCORD.
The Bank explained that the Polaris Pearl Account had followed from its interaction with women across the country, after it has discovered that most women are unable to access finance to either stabilize or scale their businesses mainly because of a lack of awareness on how to leverage bank funding to drive and sustain profit.
Its finding, according to the bank is contrary to popularly but erroneously held view that unavailability of finance is the main challenge facing the average business woman.
Speaking on the benefits of the Polaris Pearl Account, Mrs Adebimpe Ihekuna, Group Head, Products and Market Development, explained that lack of proper guidance on access to opportunities is also a major hindrance to women in their entrepreneurial ventures.
She noted that “we have carefully designed Polaris Pearl Account for women or groups of women entrepreneurs who initiate, organize, and operate a business enterprise to fulfill an existing need for the purpose of making profit.”
Furthermore, she affirmed that “with Polaris Pearl, Women Entrepreneurs do not only have access to collateral-free loans but are also regularly supported in understanding vital aspects of business development such as business training, business tips and positioning for new opportunities. We also support them with requisite skills on emerging local and global trends that may impact their businesses”.
According to her, “many women entrepreneurs who have embraced the Polaris Pearl product have so far enjoyed numerous incentives such as business name registration, health check, business plan development, and a host of other value-adding benefits.”
Speaking on the value proposition of the Polaris Pearl, the Bank’s Acting Managing Director/CEO Mr Innocent Ike, explained that “Polaris Bank is a member of the United Nations Environment Programme Finance Initiative (UNEP FI) and hence a critical stakeholder in the global conversation about gender inclusion and women empowerment especially in enhancing their access to finance and business opportunities.”
Ike noted that bringing empowerment to Nigerian women constitutes one of the six pillars of Polaris Bank’s corporate citizenship and sustainability focus.
“Polaris Pearl account can be opened through the Bank’s account opening portal at https://accounts.polarisbanklimited.com/opening/ or visit any of our SurePadi agents in your neighbourhood, as well as any Polaris Bank branch closer to you,” the bank stated.
Polaris Bank is a future-determining Bank committed to delivering industry-defining products, and services, across all sectors of the Nigerian economy.