The Bank of Industry (BOI) has launched a special intervention programme, Project Guaranteed Loans for Women (GLOW), valued at N10 billion, to support female entrepreneurs across Nigeria, the News Agency of Nigeria reports.
The initiative aims to address the persistent financial inclusion gap faced by women in the country, providing them with the necessary capital to scale their businesses and contribute to economic development.
The bank’s Managing Director, Dr. Olasupo Olusi, announced the initiative on Thursday in Lagos, emphasizing that the funding is designed to empower women who are pivotal to Nigeria’s economic growth.
According to him, Nigeria leads the world in women’s entrepreneurial activity, with 23 million female entrepreneurs accounting for 41% of the country’s micro-businesses. However, access to finance remains a significant barrier for many of these women.
Dr. Olusi highlighted that despite the impressive number of women entrepreneurs in Nigeria, many struggle…
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