SheVentures, the dedicated women-banking arm of First City Monument Bank (FCMB), has formalized a strategic alliance with the Women Enterprise Alliance (WENA) to bolster the growth and sustainability of women-owned businesses in Nigeria’s North Central region. This partnership signifies a concerted effort to address the unique challenges faced by women entrepreneurs and provide them with the necessary resources to thrive in a competitive business environment. The official signing ceremony, held at WENA’s headquarters in Abuja, marks the commencement of a comprehensive program designed to empower over 150 women-led small and medium-sized enterprises (SMEs) across local, state, and regional levels. This initiative underscores the commitment of both organizations to fostering inclusive economic growth and empowering women as key drivers of economic development.
The core components of the SheVentures-WENA partnership revolve around providing holistic support to women entrepreneurs. This includes facilitating access to finance, a crucial element often lacking for women-owned businesses. The program will connect these businesses with potential investors and lending institutions, enabling them to secure the capital required for expansion and operational needs. Beyond financial assistance, the partnership will also focus on creating market opportunities for these businesses. This involves linking them with potential buyers, distributors, and supply chain networks, expanding their reach and market penetration. Recognizing the importance of continuous learning and development, the collaboration will offer capacity building programs, equipping women entrepreneurs with the skills and knowledge necessary to manage and grow their businesses effectively. These programs will cover various aspects of business management, including financial literacy, marketing strategies, operational efficiency, and leadership development.
Furthermore, the initiative emphasizes enterprise development, providing women entrepreneurs with mentorship, business advisory services, and networking opportunities. This comprehensive approach ensures that women-owned businesses receive not just financial support but also the guidance and resources needed to navigate the complexities of the business world. A significant incentive within this program is the provision of business grants. The top three performing SMEs emerging from the regional programs will be awarded grants of up to ₦5 million from selected investors and partners. This injection of capital will serve as a catalyst for growth, enabling these businesses to scale their operations and achieve greater impact within their communities.
The leadership of both SheVentures and WENA have expressed their enthusiasm for this partnership and its potential to transform the landscape for women-owned businesses in the North Central region. Nnenna Jacob-Ogogo, Group Head of SheVentures at FCMB, highlighted the organization’s dedication to unlocking the potential of women entrepreneurs across Nigeria. She emphasized the belief that empowering women economically is a fundamental driver of inclusive growth and community development. Through this collaboration with WENA, SheVentures aims to equip women in the North Central region with the necessary financial resources, tools, skills, and market exposure to thrive and contribute significantly to the region’s economic prosperity.
Florence Onwumere, Head of Organisation and Programmes at WENA, echoed this sentiment, expressing excitement about partnering with SheVentures, a brand that shares WENA’s mission of uplifting women entrepreneurs. This collaboration represents a significant step towards expanding access to crucial resources and shaping the next generation of business leaders in underserved regions of Nigeria. The North Central region, often overlooked in development initiatives, stands to benefit significantly from this focused effort to empower its women entrepreneurs. By providing them with the necessary support and opportunities, the SheVentures-WENA partnership aims to unlock the untapped potential of this region and drive sustainable economic growth.
The SheVentures-WENA partnership signifies more than just a collaborative effort; it represents a shared vision for inclusive growth and a commitment to empowering women as catalysts for economic development. This initiative heralds a promising new chapter for women-led businesses in Nigeria, providing them with the resources, support, and opportunities they need to flourish. By fostering an environment conducive to their success, this partnership contributes not only to the economic advancement of the North Central region but also to the broader goal of gender equality and economic empowerment across Nigeria. The provision of grants, access to finance, market opportunities, capacity building, and enterprise development support will collectively create a more equitable and prosperous future for women entrepreneurs in the region and beyond. This comprehensive approach underscores the importance of not just providing financial assistance but also equipping women with the skills, knowledge, and networks necessary to navigate the complexities of the business world and achieve sustainable success.
