Wema Bank Signs MoU With NYSC To Promote Youth Entrepreneurship


Wema Bank Plc, in its vision of empowering lives through innovation, has signed a Memorandum of Understanding with the National Youths Service Corps (NYSC) to promote youth empowerment in the form of grants and establishment of digital hubs for the training of corps members recently in Abuja.

The MOU would have Wema Bank provide support for the NYSC skills acquisition and entrepreneurship development initiative with N150 million yearly for two years as grants to corps members who are successful in business competitions that would be organized periodically.

Speaking on the MOU, Tunde Mabawonku Executive Director of Retail/Digital Banking at Wema Bank Plc said, “Over the last few years, we’ve looked for opportunities to empower, and we are glad we have this opportunity to work with youth and the next generation. For Wema Bank, we see this as a platform for growth and empowerment. We hope that it’s not just for two years but 12 years, 20 years for the next 79 years this partnership will succeed.”

Explaining further Mabawonku said that the initiative is targeted at empowering 304 ccorps members for a start “Our target is 20% of Corps members. But we expect that over time we will be able to enroll the larger chunk of Corps members on board. We hope they have an open mind and use the skills and knowledge that they’ve learned to impact first themselves and then the larger society.”

On her part, Ngozi Nwatarali, Director, NYSC Skills Acquisition and Entrepreneurship Devt. said, “NYSC providing land for development and construction of accelerator hubs in agreed locations within the six geo-political zones of the federation. Wema Bank will support the NYSC development initiative with N300 Million, N150 yearly for two years.”

The digital hubs are envisaged to provide digital connectivity, support the development of skills to corp members and encourage the use of emerging digital technology, training persons in workstations as skill sharing.

Also, as part of the MOU, Wema Bank will provide mentorship and give Corps members market access. It will also provide digital skills training, coding, data thi, Artificial Intelligence, Robotics, Cyber security, programming language and content creation in all the states in collaboration with Microsoft.

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