For many villagers in the rural areas of Nigeria, personal banking is pricey in ways you can never imagine.
First, you have to consider the cost of reaching the nearest branch, then the cost of transporting yourself there — this usually takes up a day’s labor. For the banks, installing ATMs in villages without reliable electricity is problematic. This is why WEMA bank has taken on the challenge by creating mobile branches that are powered by solar, making them the first Nigerian bank to do so. Their objective is to make banking services available to everyone in all parts of the country, especially in underserved markets.
According to Mr. Damola Bolodeoku, Wema Bank’s head of e-business:
“At Wema Bank, we are committed to making banking as convenient as it can be for our customers, and we achieve this using technology, while adhering to global best practices.
Being an environmentally responsible company, our mobile branch is powered by solar energy – a first in the Nigeria’s banking industry. “
Their mobile branch is aptly named “Wema Bank on Wheels.” The new truck is also fitted with two automated teller machines (ATM).
I am not sure how many have been deployed so far, but this is definitely a welcome development.