Revealed! Bank of industry announces special loan for women

• The Bank of Industry launched Project Guaranteed Loans for Women, a N10 cardinal peculiar involution program.
• The MD of the slope stated that the backing is meant to empower women, who are captious to Nigeria's economical growth
• The programme aims to span the persistent spread successful fiscal inclusion that women look crossed the country

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

Project Guaranteed Loans for Women (GLOW), a peculiar involution inaugural worthy N10 billion, was introduced by the Bank of Industry (BOI) to assistance female entrepreneurs passim Nigeria.

Women entrepreneurs thrust innovation, make jobs, and fortify communities. Photo Credit: Contributor
Source: Getty Images

Dr. Olasupo Olusi, the bank's managing director, made the announcement Thursday successful Lagos, highlighting that the financing is intended to empower women, who are indispensable to Nigeria's economical development.

According to NAN, the programme intends to adjacent the ongoing fiscal inclusion spread that women successful the federation face by giving them the backing they request to turn their enterprises and enactment economical growth.

He claims that with 23 cardinal pistillate entrepreneurs moving 41% of the nation's microbusinesses, Nigeria leads the satellite successful women's entrepreneurship. For galore of these women, however, fiscal access continues to beryllium a large obstacle.

Despite the singular fig of women entrepreneurs in Nigeria, Dr. Olusi pointed retired that galore of them find it hard to get the superior required to grow their companies.

He said BOI is dedicated to tackling this contented done strategical programs specified arsenic the GLOW Fund, which is simply a constituent of the bank's larger 2025–2027 program to springiness gender-focused fiscal inclusion apical priority.

“Women entrepreneurs thrust innovation, make jobs, and fortify communities. However, financing remains 1 of their biggest challenges. Our extremity contiguous is to listen, simplify financing processes, and physique a beardown web that fosters sustainable growth,” Olusi stated.

Financing remains 1 of their biggest challenges for women. Photo Credit: Contributor
Source: Getty Images

Dr. Olusi besides described different BOI fiscal interventions aimed astatine supporting women entrepreneurs, specified arsenic the BOI Impact Fund, a $2 cardinal concern successful AruwaCapital, a female-led concern firm, and a 50 cardinal partial hazard warrant concern with the African Guarantee Fund.

The GLOW Fund, created successful concern with the Women’s Chamber of Commerce, Industry, Mines, and Agriculture (WCCIMA), is intended to provide low-interest loans, capacity-building programs, and mentorship opportunities to assistance women-led businesses flourish.

Moniepoint launches tech programme for women

Legit.ng reported that 1 of Nigeria’s starring fiscal technology companies, Moniepoint has announced the enlargement of its Women successful Tech Programme, increasing its internship from 10 to 15 to span the sex spread successful the tech sector.

The institution said the strategy offers applicants the accidental to articulation antithetic teams crossed unreality engineering, backend engineering, method merchandise management, information engineering, systems administration, method support, and idiosyncratic experience.

Tagged Dream 15, the programme volition alteration the participants to embark connected a six-month internship, wherever they volition beryllium exposed to nonstop mentorship, competitory salary, enactment tools, branded items, and imaginable full-time employment based connected performance.

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Source: Legit.ng