Loans to boost Nigerian women in business

sky news africa loans to grow nigerian women in business


Providing loans and grants to women entrepreneurs will help to grow their business, the newly elected President of Nigeria Association of Women Entrepreneur (NAWE), Mrs. Vera Ndanusa has said.

Ndanusa also said SMEs represent an important component in the nation’s stride towards economic growth and development.

The NAWE President who spoke in a statement sent to our correspondent on Thursday, expressed pride in the performance of women entrepreneurs who had done very well in various businesses in the country and the world at large.

She expressed delight, with the performance of Nigerian women, attributing it to their tenacity and doggedness to survive in a society where women are seen as lesser beings.

The NAWE boss said if women will continue to succeed in entrepreneurship, the government must play its role for the continuous growth of small and medium scale businesses in Nigeria.

“SMEs were the engine room of economic growth of any nation as well as job creation. If the government continues to support women in business as they have shown in recent times, more women will grow to become employers of labour.

“My tenure will work to secure funds meant to create a special window for accessing credit facilities and financing for women to help fund their ideas, innovations and to support their enterprise”, Ndanusa said.

Our correspondent reports that women in Nigeria venture into small-scale businesses, like selling petty items by the roadside. When they save enough money, they branch out to rent a shop and expand their trade.

Microfinance banks have, however through initiatives by nongovernmental organizations (NGOs), targeting women, are slowly gaining more popularity to complement government-orchestrated projects.

Recall that the Nigerian government had earlier pledged to back the Central Bank of Nigeria (CBN) to create a Microfinance Development Fund, but Ndanusa said she wished the government would do more to specifically help businesswomen.


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