Wema Bank, NYSC partners to Launch Nationwide Youth Empowerment Initiative

Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first-fully digital bank, ALAT, has collaborated with the National Youth Service Corps (NYSC) to launch the NYSC-ALAT Accelerator Programme, a strategic partnership to enable smooth and profitable entry into the labour market for young Nigerians through the NYSC scheme.

The NYSC-ALAT Accelerator Programme is an initiative targeted at equipping youth under the NYSC, with resources for skill acquisition, job acquisition and career development, to reduce unemployment and underemployment rates, thereby stimulating economic performance and national development. This partnership was officially unveiled at the Memorandum of Understanding (MoU) Signing Ceremony in Abuja, Nigeria.

The pioneering programme will empower NYSC members with grants and funding to help them build sustainable streams of income, and provide cutting-edge digital training in areas such as design thinking, artificial intelligence, programming languages, and content creation, in collaboration with Microsoft. Participants will also access mentorship opportunities and undergo a business plan competition to not only help them curate the perfect business plan but also substantially reward the best ideas that foster entrepreneurship and job creation; additionally providing loans for all participants.

In his address, Mr. Tunde Mabawonku, Wema Bank’s Executive Director of Retail and Digital, highlighted the essence of the groundbreaking partnership.

“Wema Bank, with 79 years of financial inclusion, is committed to empowering lives through innovation. This partnership with NYSC is a platform for the growth and development of Nigerian youths, intertwining digital technology with daily life and driving economic growth. Our vision is to provide the youth with tools that will accompany them beyond their service year, shaping their career and adult life,” he said.

Mr. Ayodele Folorunsho Omotade, representing the Director-General of NYSC, expressed gratitude to Wema Bank for their support and commitment to driving the programme.

“This MoU signifies our combined efforts towards wealth creation and the economic advancement of Nigerian youth. With Wema Bank’s support, we look forward to opening up career opportunities for our members and contributing to the development of a digitally skilled workforce,” he added.