A new financial inclusion initiative to empower about 50,000 female Cash In and Cash Out (CICO) agents across Nigeria has been launched by Access Bank Plc.
This is in partnership with the Gates Foundation, and MicroSave Consulting (MSC). It is expected to increase the participation of women in agency banking by providing them with training, financial support, and digital tools to serve their communities.
At a press briefing in Lagos, the lender said the programme would run for three years, with a focus on rural and underserved areas, especially in northern and central Nigeria.
The initiative will be funded by the Gates Foundation. It will also play an advisory and monitoring role to ensure proper execution and its long-term success.
The Group Head of Agency Banking and Financial Inclusion at Access Bank, Ms Chizoba Iheme, said, “We aim to impact 50,000 female CICO agents by empowering them to perform more transactions and gathering gender-disaggregated data to understand their behaviour.”
According to her, Access Bank’s journey in supporting women began as early as 2013 through the Beta Proposition, and the bank has maintained over 70 per cent female participation in its current Beta Friends workforce.
“While Nigeria is working towards nationwide electrification, we have partnered with a credible solar company in the interim to support agents in off-grid communities,” she added.
Also, the Senior Retail Advisor of Access Bank Mr Robert Giles, said, “All of the projects that we do are here for the long term.
“We practice sustainable banking principles, and our intention is to deliver better outcomes for our agents, who are our customers.
“People prefer to be supported by agents rather than visiting a bank branch, as it saves time and allows them to continue their business activities,” he said.
An Associate Partner at MSC, Mr Akshat Pathak, while speaking, said, “Agent networks are critical to improving financial inclusion in any country. Female agents, in particular, play a vital role in empowering female consumers.
“Research from Bangladesh, India and Ethiopia has shown that women feel more confident interacting with female representatives—not just for transactions, but also for financial advice.”