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LAGOS, NIGERIA – OCTOBER 27, 2025 – The Alternative Bank (‘AltBank’) has announced the launch of The Alternative Bank-Utiva Women in Tech Scholarship, a landmark initiative designed to empower women entrepreneurs with digital skills, innovation design, and business growth training.
The announcement was made during a high-level virtual convening held on Friday, October 24, 2025, to commemorate the International Day for Rural Women.
The scholarship programme, which begins in November 2025, forms part of the Bank’s wider Corporate Social Investment commitment to bridge gender and digital divides, equipping women with tools to scale their enterprises and strengthen their participation in the emerging digital economy.
Speaking during the event, Korede Demola-Adeniyi, Executive Director (South) at The Alternative Bank, described the initiative as both symbolic and strategic.
“Women are the heartbeat of food systems, the lifeline of families, and the silent architects of community resilience. Empowering rural women is a moral imperative as much as it is smart economics and a cornerstone of sustainable national growth. The doors of The Alternative Bank remain open, ready to partner, finance ideas, and co-create sustainable solutions that empower women and strengthen communities”, Demola-Adeniyi said.
Eyitayo Ogunmola, Chief Executive Officer of Utiva, expressed optimism about the partnership’s potential to redefine access to digital opportunities for women, saying, “At Utiva, we believe that when women are equipped with the right digital skills, they don’t just transform their businesses they transform their communities.
“This partnership with The Alternative Bank is about creating pathways for inclusion, innovation, and long-term economic empowerment for women who are shaping the future of enterprise in Africa.”
The virtual convening, themed ‘Rural Women and MSMEs: Driving Sustainability, Strengthening Economies, Securing Our Shared Tomorrow,’ brought together thought leaders, policymakers, and development partners to celebrate, empower, and advocate for rural women across Nigeria and Africa.
The event aligned with the global observance of the United Nations’ Rural Women’s Day.
Hon. Gift Johnbull, Senior Special Assistant to the President on Community Engagement (South-South), reaffirmed the Nigerian Federal Government’s commitment to women’s empowerment.
“Women in our rural areas are farmers because most of our rural communities are agrarian communities, and they are the reason why we have food in our cities and on our tables. They make up to 70% of our food system in this country and worldwide.
“Yet they are facing barriers like access to education, finance, and other productive opportunities. We acknowledge that and are making progress to ensure these barriers are totally eradicated from our society”, she stated.
From the United Nations, OsaloboOsemhenjie, Programme Specialist at UN Women, highlighted ongoing interventions supporting women’s economic advancement and called for a joint stakeholder effort to address existing gaps. “Let us commit to changing this narrative by investing in rural women’s leadership, expanding access to finance, fostering digital and entrepreneurial skills, (providing) mentorship programmes for young women and consultancy services through affirmative procurement. Only then will we unlock a future that is not only sustainable but equitable,” she said.
A key highlight of the event was the thematic presentation by Kemi Ayanda, Economic Development and Trade Strategist for Africa and the Middle East. She challenged participants to rethink traditional development models, asserting that true transformation begins not with funding but with reimagining systems that recognise resilience as an economic asset and women as critical stabilisers.
Other notable speakers included Her Excellency Hajia Fatima Dikko Radda, wife of the Executive Governor of Katsina State; Mrs. Ellen T. Johnson, Country Head of Commonwealth Businesswomen Africa (Gambia); Judith Libaisi Kayoni, Global Rural and Social Development Expert (Kenya); Dr. Hadiza Yaro, Anglophone West Africa Sales Manager, SAKATA Vegetables Europe SAS, and Ameena Buhari-Mohammed, Private Banking & Wealth Management Lead at The Alternative Bank.
The Alternative Bank’s observance of the International Day for Rural Women underscores its mission to drive sustainable, inclusive, and ethical finance models that unlock opportunities for women-led enterprises, strengthen local economies, and contribute to Nigeria’s long-term digital and economic resilience.
About The Alternative Bank
The Alternative Bank commenced its journey in January 2014 as a non-interest banking window in Sterling, with a vision to create a dynamic banking experience that respects individuality and speaks the language of its customers/partners.
In July 2023, the Central Bank of Nigeria issued a Banking License to The Alternative Bank, enabling it to operate as a fully-fledged, standalone bank. Guided by its Advisory Committee of Experts (ACE),
The Alternative Bank ensures all its operations align with the ethics of Non-Interest Banking. For more information, please visit www.altbank.ng.
