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The Bank of Industry (BOI) has reaffirmed its commitment to providing financial solutions for female entrepreneurs in Nigeria, particularly in the sectors of commerce, industry, mines, and agriculture. This pledge was made at an event commemorating International Women’s Day, co-hosted by BOI and the Women’s Chamber of Commerce, Industry, Mines, and Agriculture (WCCIMA) in Lagos.

The event, themed “Empowering Women Entrepreneurs: Unlocking Sector-Focused Financing Solutions,” brought together over 80 women-led businesses to address critical financing gaps and explore actionable solutions. It also marked the launch of the Project Guaranteed Loans for Women, a N10 billion fund in partnership with WCCIMA aimed at supporting female entrepreneurs.

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In his address, BOI’s Managing Director and Chief Executive Officer, Dr. Olasupo Olusi, emphasized the bank’s 2025-2027 strategy, which prioritizes gender-focused financial inclusion. He noted that Nigeria leads globally in women’s entrepreneurial activity, with 23 million female entrepreneurs accounting for 41% of the country’s micro-businesses.

“Women entrepreneurs drive innovation, create jobs, and strengthen communities. However, financing remains one of their biggest challenges. Our goal today is to listen, demystify financing processes, and build a strong network that fosters sustainable growth,” Dr. Olusi stated.

To bridge the financing gap, BOI introduced the BOI Impact Fund, which will provide both equity and debt financing for entrepreneurs, with a special focus on women-owned enterprises. Additionally, BOI has invested $2 million in Aruwa Capital, a female-led investment firm, and partnered with the African Guarantee Fund to provide a $50 million partial risk guarantee for women-owned micro, small, and medium enterprises.

The Director-General of WCCIMA, Dr. Weyinmi Eribo, stressed the urgent need for sector-focused financing for women. “Women entrepreneurs account for over 40% of Nigeria’s small and medium-sized enterprises, yet many remain excluded from mainstream financing due to systemic barriers,” she said.

Dr. Eribo commended BOI for launching the GLOW Fund and pledged that WCCIMA, in partnership with BOI, will ensure that the funding initiatives translate into measurable impacts for female entrepreneurs

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