Wema Bank Receives International Recognition For Positive Impact

Wema Bank has received a total of three awards of excellence at The Digital Banker Global Sustainable Finance Awards Gala 2024, one of which was for impacts made in the digital space.

The awards received include; Outstanding Sustainable Finance – SME Finance, Best Digital Platform for Sustainable Finance and Sustainable Finance Professional of the Year – Africa.

The Digital Banker Global Sustainable Finance Awards is an international award ceremony dedicated to honouring and celebrating the world’s preeminent, groundbreaking and cutting-edge financial service institutions who are distinguished for their unrivalled standards in incorporating environmental, social and governance (ESG) considerations, as well as driving sustainable finance and responsible investment practices across products, services, solutions, projects and initiatives.

Providing unbiased and objective benchmarks for the global industry, this award recognises outstanding players across the world who are transforming the industry by setting new milestones for sustainable impact, positively enhancing triple bottom line profitability, and benefiting all key stakeholders.

Recognised for its pivotal role in pioneering sustainable finance solutions and raising standards of excellence across the Nigerian financial services industry, Wema Bank received multiple accolades at The Digital Banker Global Sustainable Finance Awards, emerging winners across three award categories.

The first is the Outstanding Sustainable Finance category which was awarded to the Bank for its remarkable SME Finance offering; the second, Best Digital Platform for Sustainable Finance, awarded to the bank for its cutting-edge fully digital bank, ALAT; and the third, Sustainable Finance Professional of the Year in Africa, awarded to the Bank’s head of Corporate Sustainability and Responsibility, Abimbola Agbejule.

From launching Africa’s first fully digital bank, ALAT, in 2017 to championing paperless operations across major touchpoints, and proliferating digital empowerment for diverse Nigerians across the nation, Wema Bank has earned a formidable reputation as a pioneer of digital innovation and sustainable impact in Nigeria.

The bank continues to empower lives through various solutions and initiatives like the FGN-ALAT Digital Skillnovation Programme, NYSC-ALAT Accelerator Programme and Hackaholics, among others, promoting sustainable development for customers of all ages. Beyond these, Wema Bank’s Green Energy Finance Facility has served as a gamechanger for sustainability in Nigeria, providing up to N10 million in uncollateralized loans and N750 million with collateral, specifically for the purchase of renewable energy solutions.

In view of the bank’s exceptional footprints across digital and sustainability, Wema Bank is unarguably not just a pioneer of sustainable innovation but also an enabler.

Representing the managing director of Wema Bank, Moruf Oseni, the bank’s Chief Digital officer, Olusegun Adeniyi, received the first two awards on behalf of the bank, underscoring the bank’s commitment to utilising digital innovation for sustainable impact.

“Digital is in the core of our DNA at Wema Bank, and it runs through all we do. It is undeniable that digital is the future so to ensure that our customers continue to thrive sustainably, we have undertaken the responsibility of championing digital empowerment with attention to sustainable societal impact; as captured in our sustainability vision, ‘providing digital solutions for societal impact’.

This vision continues to fuel our actions and solutions, and we are honoured that our impact is being recognised. ALAT stands as the standard in the financial services industry, being the first fully digital bank in Africa and through ALAT, we have been able to reduce footfall in physical locations as well as reduce carbon footprint across our touchpoints by digitising processes,” he pointed out.

Wema Bank’s Head of Corporate Sustainability and Responsibility, and recipient of the third award, Sustainable Finance Professional of the Year in Africa, Abimbola Agbejule, further charged institutions to intentionally promote sustainability for the benefit of the Nigerian people. According to her, “This is a testament to all the good work that we do at Wema Bank, and I must say thank you to all the sustainability champions bank-wide who continue to help us implement the sustainability and ESG initiatives that we design for the Bank.”

The managing director of The Digital Banker, Nirav Patel, added that, “This is a truly special occasion as we recognise, honour and celebrate industry leading initiatives introduced by worldwide financial services organisations as they leverage innovation and technology to deliver unique solutions that truly incorporate the principles of sustainable and responsible banking.”

Wema Bank continues to reset standards in the Nigerian financial services industry and is fast penetrating the international landscape, pioneering futuristic solutions and positively transforming lives.