Women Entrepreneurs Express Frustration Over Limited Access to Loans and Financial Inclusion

Women Entrepreneurs Decry Poor Access to Funding, Investment, and Loans

Women entrepreneurs in Nigeria have raised concerns over the lack of access to funding, investment, and loans to grow their businesses, leading to financial dependency and contributing to gender inequality.

In interviews with the News Agency of Nigeria (NAN) in Abuja, women entrepreneurs highlighted the challenges they face in accessing financial resources. Mrs. Maryam Sani, a furniture dealer, pointed out discrimination, limited networking opportunities, and socio-cultural barriers as obstacles for women in business.

Mrs. Happy Moses, a petty trader, shared her struggles with lack of education and financial tools, hindering her business expansion. She emphasized the difficulty in opening a bank account and the reliance on her husband for financial transactions.

Mrs. Kemisola Olumide highlighted the difficulty women face in balancing family life, career, and business opportunities. She questioned the literacy levels of women to excel in e-commerce businesses.

Mrs. Elizabeth Duile, Founder of Civitas Auxillum Foundation, addressed the challenges faced by women in Internally Displaced Persons camps, emphasizing the lack of financial literacy and access to loan facilities.

A survey funded by the African Women Development Fund revealed disparities in funding for female business owners, with only four percent receiving funding compared to 95 percent of male business owners. Añuli Aniebo, Executive Director of HEIR Women Hub, emphasized the need for policy advocacy and capacity building to bridge the gap in accessing funds for female entrepreneurs.

Through collaborative efforts and targeted interventions, organizations are working towards empowering women-owned businesses with equitable access to funding and support, envisioning a future where female entrepreneurs in Nigeria thrive economically.