Nigeria’s Tier-1 lender, Access Bank, is celebrating Tracy Batta, one of the beneficiaries of its W Power loan product, who has just been named by Forbes Africa in it’s prestigious and much covetted 30 under 30 list for 2020.
“Helping female businesses grow through discounted access to finance is one of the many unique value propositions under the Access Bank’s W Initiative. Tracy Batta, co-founder, SmoothieExpress and a W Power Loan beneficiary recently emerged on Forbes Africa’s 30 under 30 list,” the bank said in a statement.
Tracy Batta co-owns Smoothie Express, a healthy focused brand known for providing consumers with healthy fast foods. Prior to her recognition under the 2020 class of Forbes Africa’s 30 under 30, Tracy was recognized under Business Day’s Top100 Fastest Growing SMEs. She has since grown to become a household name in Lagos.
According to the bank, since its launch in 2018, the W Power loan has impacted the businesses of growing female entrepreneurs with N14 billion for expansion while seeking opportunities and exposure to the global market.
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Speaking on the impact of the W Power loan on female owned businesses, Ada Udechukwu, head, Women Banking at Access Bank says, “Ensuring access to affordable finance for SMEs and opportunities to access new markets is an integral part of Access Bank’s economic ecosystem for SMEs. Since the introduction of the W Power loan, more women can now sit at the helm of entrepreneurial affairs and grow their businesses to be internationally recognized. We strengthen female-owned SMEs in Nigeria by being a pillar for them to lean on for growth and expansion”.
The statement explained that Access Bank’s support for female-owned home-grown businesses is undeniable and that this is evident in the resultant benefits from its discounted financing initiative, The W Power Loan.