With its new retail product, the Yanga account, Nigeria’s retail lender Unity Bank Plc has launched a new marketing campaign aimed at millions of female entrepreneurs, particularly the underbanked.
Starting this August, the lender shall deploy strategic marketing campaigns leveraging several channels including the traditional and digital media to drive value proposition and increased adoption of the Yanga product.
The Yanga account, which was launched by the lender in November 2021 in line with Unity bank’s strategic vision of being “Nigeria’s retail bank of choice” debuted in four geographical locations: Mararaba/Nassarawa state, Ibadan/Oyo state, Uyo/Akwa Ibom state and Gombe/Gombe state.
Commenting on the new Yanga Market Penetration Campaign, the Divisional Head, Retail and SME, Mr Olufunwa Akinmade stated that “having launched the Yanga Account, unveiled Veteran Actress, Sola Sobowale as “Mama Yanga”, the new campaign is intended to further provide the engagement platform to empower core target of the product existing in our communities and found amongst millions of underbanked women”.
The product targets women entrepreneurs in the Micro, small and medium enterprises, MSME space, especially the underbanked, offering savings and investment, capacity building, agency banking, dedicated agents, medical insurance and microloans to the women, thereby deepening financial inclusion.
The marketing drive includes a well-targeted television commercial featuring the Bank’s brand ambassador, the award-winning Nollywood actress, Sola Sobowale who was crowned “Mama Yanga” at the launch of the product in November last year because of her strong appeal to the target market. Across the multiple channels deployed for the campaign, “Mama Yanga” will be sharing the stories of how Yanga is empowering women and changing lives across Nigeria.
Yanga is available to all women entrepreneurs nationwide, even as the Bank continues to drive strategic activations of the product across various locations in the country. So far, the activation train has been to Lagos, Nasarawa, Gombe, Akwa Ibom, Port Harcourt and Ibadan.
Seeking to promote financial inclusion and cater to the unbanked women entrepreneurs, the new retail product is designed to deepen its beneficial impact on Micro Small and Medium Enterprises, MSMEs operated by women in the mass-market retail space.
The product comes on the heels of Nigeria’s growing imperative to boost access to financial services by women as a recent EFInA report, suggests, “There are 51 million Nigerian women above 18 years of age, with over 41% of them unbanked.”