Union Bank of Nigeria Plc has announced its membership of the Business Call to Action (BCtA) committed to provide access to financial services to a minimum of 30,000 people from low income communities in 11 states across Northern Nigeria by 2020.
Launched at the United Nations (UN) in 2008, BCtA aims to accelerate progress towards the Sustainable Development Goals (SDGs) by challenging companies to develop inclusive business models that engage people at the base of the economic pyramid. That is those with less than US$10 per day purchasing power such as consumers, producers, suppliers, distributors of goods and services and employees.
The membership reaffirms the bank’s leadership in and commitment to, inclusive and sustainable business initiatives especially for those at the base of the pyramid.
Its initiative under BCtA is expected to tackle financial exclusion in the North through the scale up of dedicated financial products and channels.
This commitment includes the “Project North” initiative, an innovative and strategic approach for the bottom of the economic pyramid, in areas of Nigeria where economic activities are gradually recovering following the 8 year-long battle against terrorist insurgency.
Commenting on the membership, Chief Executive Officer of Union Bank, Mr Emeka Emuwa, said joining Business Call to Action was a logical step to galvanize private sector participation in developing Nigeria following a call to action for an N100billion fund.
