Financial Inclusion

FirstBank is a strong advocate within the financial industry and globally for gender equality and economic empowerment.

Empowering Women

At FirstBank, we believe Women’s Inclusion is the process through which women expand and recreate what it is that they can be, do, and accomplish in circumstances where they were previously disadvantaged. Women in Nigeria and indeed globally continue to be at a distinct disadvantage to men, whether economically, socially, financially or culturally. With the appropriate structures and guidance, women can achieve significantly more. Women’s Economic Empowerment is therefore the ability for women to enjoy their right to control and benefit from resources, assets, income, as well as the ability to manage and improve their economic status and well-being. Women’s inclusion simply means giving women the ability to fully and genuinely participate economically, socially, and politically.
There is a strong business case for enhancing the contribution of women at senior levels to the achievement of organisational objectives.

There also exists a strong ethical, public and humanitarian case for the increased involvement and participation of women.

To further demonstrate the Bank’s commitment to women empowerment, the Board in line with its corporate responsibility & sustainability goals has appointed the Board Risk Management Committee and the Corporate Responsibility & Sustainability Committee headed by the CRO of the Bank to oversee Corporate Responsibility & Sustainability. Women’s economic empowerment is vital to the agenda of the committees which have a charter that summarises the functions and expected responsibilities, the committee is empowered to successfully embed and implement CR&S objectives across the bank’s operations and activities.

FirstBank is a great advocate within the Nigeria financial industry in the global movement for gender equality and economic empowerment envisioned through the introduction of a uniquely designed bespoke product by the Bank as a platform to advance the course of women of all demographics in different sectors of the economy amongst other initiatives. The market impact of FirstGem in the 3-year anniversary of the product launch has witnessed tremendous growth in numbers and volumes. As of August 30, 2019, 68,050 women (corporate and individual, including staff) currently own and operate the FirstGem account with a seating balance of over N4billion. From industry statistics, the Bank is currently posting the No. 1 position in terms of number and deposit portfolio of women-owned bank accounts compared with peer banks.

Another innovative milestone demonstrated by FirstBank in support of gender equality and diversity is the creation of the FirstGem Online Community. This is an online platform that provides information on a wide range of issues affecting women from lifestyle, politics, business ideas, skills acquisition, etc. It also features blogs and posts videos of high-profile women of influence providing mentorship nuggets and providing answers to a variety of life, career and business/social issues as guides for women. As of date, over 6,000 women have subscribed and like the platform with a lot more women showing interest in the value offerings of the platform.

Another innovative milestone that FirstBank had demonstrated in support of gender equality and diversity in favour of women is the creation of the FirstGem Online Community. This is an online platform that provides information on a wide range of issues affecting women from lifestyle, politics, business ideas, skills acquisition, etc. It also features blogs and posts videos of high-profile women of influence providing mentorship nuggets and providing answers to a variety of life, career and business/social issues as guides for women. As of date, over 6,000 women have subscribed and like the platform with a lot more women showing interest in the value offerings of the platform.

The growth and success of women-owned businesses is one of the most profound changes taking place in the business world today. Our Bank aligns with this global trend and is demonstrating its support and active participation through innovative empowerment programs it will continue to reel out in support of women development in the medium to long term. (see our CR&S report for details).

FirstGem

FirstGem is a bespoke solution designed to foster the empowerment of women across the socio-economic strata. FirstGem having recorded significant milestones, is a product that is ideal for all women aged 18 years and above, whether working professionals or entrepreneurs; and it comes in two variants, savings and current accounts.

FirstBank Women Network

FirstBank Women Network is aimed at addressing the gender gap at senior levels and tapping the opportunities presented by enabling women to contribute even more when provide with the necessary strategic support and an intentionally enabling environment.

This includes providing a platform that enables women to become more engaged in their workplace, set and achieve goals, have greater influence in their lives and achieve more of their potential. The initiative was launched during the International Women’s Day (IWD) celebration that held on the 8th of March 2018 with the theme #PressforProgress.

1. Career Management: Created to influence and develop women; through several technical and personal development programmes and equip and encourage women to continue their pursuit of a career in core banking.

2. Programmes, events and networking opportunities: Responsible for creating intentional plans and to expose more women to networking opportunities through seminars, conferences, and events which will build their confidence to take on higher responsibilities, and seek opportunities for public speaking

3. Personal Branding: Responsible for Impression management, improving communication and presentation skills to ensure women are well equipped to compete internally and externally in addition to epitomising the FirstBank Woman.

4. Mentoring, Coaching & Sponsorship: Provides mentoring, coaching and sponsorship opportunities; aligned with existing mentoring programmes, for increased women specific focus and intentional growth and advancement.

5. Support & Welfare: Creates the required systems through counselling, support and welfare where necessary; to provide the emotional support needed to advance and attain leadership positions.

6. Financial Planning & Empowerment: Create Financial education programmes targeted at helping women develop the right mindset towards achieving financial independence and security in retirement.