N環球 
Lagos teams up with African Development Bank to back 610 women-led businesses
The Lagos State Government and the African Development Bank launched the AFAWA Women Entrepreneurship Project on Oct 14, offering training, mentoring and finance-readiness support to 610 women-led MSMEs.
Why it matters
The Lagos State Government and the African Development Bank (AfDB) on Oct 14 formally launched the Affirmative Finance Action for Women in Africa (AFAWA) Women Entrepreneurship Project at the Banquet Hall, Lagos House, Ikeja. The programme targets 610 women-led micro, small and medium-sized enterprises, aiming to tackle persistent barriers to finance, improve enterprise survival and expand women's participation in the state's economy.
Full report
Participating businesses will receive training, mentoring and business advisory services to strengthen operations, improve financial management, adopt digital tools and prepare to approach appropriate sources of finance. The intervention will also facilitate business connections and market linkages to help women entrepreneurs reach more customers.
The programme is implemented through the Lagos State Employment Trust Fund (LSETF), with Somo Africa serving as the implementing partner. The bank is providing a seed grant to support the intervention; the amount was not disclosed.
Speaking on behalf of Governor Babajide Sanwo-Olu, Deputy Chief of Staff Sam Egube said women remain central to Lagos' commercial activity across markets, neighbourhoods and sectors, but limited access to resources constrains their expansion. "Supporting women-led enterprises is not merely an investment in individual entrepreneurs but a strategic investment in the wider Lagos economy," he said.
AfDB Director-General and Acting Vice-President Abdul Kamara told the launch that finance alone would not resolve the difficulties facing women entrepreneurs, arguing businesses also need technical expertise, management capacity and investment readiness to use financing effectively.
Commissioner for Wealth Creation and Employment Akinyemi Bankole Ajigbotafe called the partnership an important step toward women's entrepreneurship and economic independence. The announcement did not specify beneficiary selection criteria, the grant amount or a disbursement timetable.
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