Stakeholders in the public and private sectors on Wednesday proferred strategies to improve access to finance and impact capital for women-led businesses.
The stakeholders expressed their views while deliberating on critical challenges women in business faced at the second Gender Impact Investment Summit, held in Lagos.
The summit brought together stakeholders from various sectors of the economy to address the critical challenges faced by women entrepreneurs in securing financing and to drive impactful solutions that promote gender-inclusive investments.
In her address, the Minister of Women Affairs and Social Development, Barr Uju Kennedy-Ohanenye, said that it was important to break down the barriers that hindered women-led businesses from accessing capital.
Kennedy-Ohanenye expressed the commitment of President Bola Tinubu to women empowerment and sustainability in the business world.
In his welcome remark, the Chairman, Impact Investors Foundation, Mr Afolabi Oladele, called on investors to bridge the financing gap and fuel inclusive enterprises.
Oladele, also an engineer, said that it was crucial to support entrepreneurs to create thriving businesses that can contribute to economic development.
“Let us transform our promise into progress, and our aspirations into tangible outcomes,” he said.
The Chief Executive Officer, IIF, Ms Etemore Glover, delivered a call to action for key decision makers in the country.
Glover said that the solutions proffered by the speakers at the summit would open up greater opportunities for women entrepreneurs.
she advocated for continuous dialogue and collaboration among all stakeholders to ensure that the strategies proferred were effectively implemented and sustained.
“This summit has been a significant step towards breaking down the barriers that limit access to capital for women-led businesses.
“The solutions discussed are critical to ensuring that women entrepreneurs thrive in Nigeria’s business landscape,” she said.
The News Agency of Nigeria(NAN) reports that some of the key strategies presented by the stakeholders to address these challenges include
Other actionable strategies reached were; simplified application processes by reducing excessive documentation and using digital platforms.
Also, provision of mobile banking solutions, and automated systems to facilitate quicker approvals and disbursements of funds for women-led enterprises.
Among the speakers at the summit are, the Chairperson of the Nigerian National Advisory Board for Impact Investing, Mrs Ibukun Awosika, the Executive Director, Lagos Directorate and Remedial Assets Management, Wema Bank, Mr Oluwole Ajimisinmi.
Also, Executive Secretary, Lagos State Employment Trust Fund, Feyisayo Alayande, and Co-Founder, Rising Tide Africa, among others. (NAN)