The Head of Digital and eCommerce at Stanbic Bank Ghana, Jemila Abdulai, has reiterated the importance of financial institutions empowering young people and women-led businesses through innovative solutions.
Speaking at the 15th Africa Bank Summit in Accra, Ms. Abdulai highlighted the bank’s efforts in supporting the next generation of entrepreneurs.
According to her, financial institutions must go beyond simply offering financial products and instead focus on delivering real value to young people and women. She said, “It’s not enough to simply provide a financial service. The question is, ‘what value are you adding to young people and to women?’ Beyond selling products, we need to co-create solutions that empower them to thrive.”
She further underscored the economic case for focusing on women and youth, citing empirical evidence that shows women not only repay loans but also extend the value of those loans to their communities.
Stanbic Bank Ghana has been at the forefront of this inclusive approach through initiatives like its Stanbic Incubator Ghana that supports young entrepreneurs, women-led businesses, and SMEs. “Through the incubator program, we provide a space for brainstorming, networking, and access to experts within the bank. This is complemented by capacity-building sessions that equip entrepreneurs with the skills to become better financial managers,” she explained.
The bank has also embraced the digital transformation driven by Generation Z, launching a youth banking proposition last year. This initiative addresses the unique needs of young people, simplifying processes like account opening and financial management. “We’ve introduced a chatbot solution on WhatsApp, allowing young customers to check balances, and access other financial services seamlessly,” she added.
Ms. Abdulai emphasized that Stanbic Bank’s efforts are not just about financial inclusion but also about shaping the future of banking. “Gen Z is changing the game, and we’re adapting to meet their needs while preparing for the future of banking,” she noted.
The Africa Bank Summit is a premier annual gathering of financial industry leaders, policymakers, and innovators focused on shaping the future of banking on the continent. The 15th edition explored themes around digital transformation, financial inclusion, and sustainable banking practices, bringing together thought leaders to discuss strategies for bridging the digital divide in Africa.
