National Wire About Nigerians, Nigerian Business and Other Stories
The Bank of Industry has said itsloan exposure to enterprises owned and promoted by women has hit N13bn, notingthat plans are underway to improve access of related businesses todevelopmental financing.
It said this in astatement, adding that this was in furtherance of efforts to support thediversification programme of the Federal Government and create employmentthrough empowerment of women entrepreneurs
The statement quoted the ManagingDirector, BoI, Mr. Waheed Olagunju, as saying this at an event tagged ‘Bebold for change’, to commemorate the 2017 International Women’s Day.
He said thatthere was a need for women-owned businesses to take bold decisions in drivinggrowth as well as social and economic change.
Executive Director, Micro-Enterprises, BoI, Mrs. ToyinAdeniji, stated that though portfolio lending to women had doubled, denotingthat women were doing a lot economically, there was a lot more to be donein improving women’s access to finance.
He said, “Womenare playing a vital and key role in the economy. Women should be involved inpolicies and decision making in a world where they struggle to be seen andrespected. Thirty per cent of registered businesses are led by women, areflection of the fact that women are economic forces and drivers of social andeconomic change.”
One of thebeneficiaries and Chief Executive Officer of SecureID Limited, Mrs. KofoAkinkungbe, was quoted as saying that her firm had started a backwardintegration agenda to increase sourcing of raw materials locally.
Another womanentrepreneur and the Chief Executive Officer of ReelFruit, Affiong Williams,explained that the depreciating value of the naira had further promoted exportamong operators.
Similarly, theCEO of PathCare Laboratories, Dr. Pamela Ajayi, was quoted as saying that therewas a need for government to prioritise the health and educational sectors forfinancing, considering the impact of the sectors on the nation’s well-being,adding that the lingering recession had further made businesses to renegotiateterms of trade and explore cheaper ways of doing business.
The DivisionalHead, Large Enterprises, BoI, Joseph Babatunde, was said to have urgedsuccessful women entrepreneurs to promote mentorship as part of measures toimprove the growth of women-owned businesses, while emphasising the need toencourage value-addition by many enterprises.
