At the second Gender Impact Investment Summit held in Lagos on Wednesday, key stakeholders, including the Minister of Women Affairs, Uju Kennedy-Ohanenye, and Ibukun Awosika, Chairperson of the Nigerian National Advisory Board for Impact Investing, urged the removal of barriers preventing women-led businesses from accessing crucial capital.
Kennedy-Ohanenye, represented by her Special Adviser, Fatima Abdullah, emphasized that improving capital access for women entrepreneurs is a priority for her ministry. “This is not just another directive; it is a transformative step that underscores this administration’s commitment to level the playing field for women entrepreneurs. We are working hard for women to access capital, which will drive economic growth,” she stated, urging collaboration to dismantle financial barriers.
In her opening remarks, Awosika highlighted the role of impact investing in enhancing women’s contributions to the nation’s economic development. Engr. Afolabi Oladele, Chairman of the Impact Investors Foundation, called for efforts to bridge the financing gap and support entrepreneurs in creating thriving businesses that contribute to economic growth.
Participants proposed several key actions, including simplifying application processes by reducing excessive documentation, implementing mobile banking solutions, and creating automated systems for quicker fund approvals and disbursements for women-led enterprises. They also stressed the importance of capacity building, overcoming legislative hurdles, and adopting gender-responsive investment practices.
Ms. Etemore Glover, Chief Executive Director of the Impact Investors Foundation, described the summit as a significant step toward addressing the barriers limiting access to capital for women-led businesses. She asserted, “The solutions discussed are critical to ensuring that women entrepreneurs thrive in Nigeria’s business landscape.”
The Gender Impact Investment Summit aims to close the gender financing gap, create a roadmap for mainstreaming gender investment policy in Nigeria, and build a more inclusive investment ecosystem where women-led enterprises can flourish and significantly contribute to the country’s economic growth. Other speakers at the summit included representatives from Wema Bank, the Lagos State Employment Trust Fund, and Rising Tide Africa.