Access to Finance Summit for Women-Led MSMEs
Belema Kalada Meshack-Hart
Engage Empower Educate Initiative
Suite 402C Nawa Complex
According to Pricewaterhouse Cooper (PwC), women in Nigeria account for 41 percent of the ownership of micro-businesses in the country. Women entrepreneurs are boosting industries, fostering innovation, and creating jobs all across the world. However, they are frequently limited by systemic challenges including limited access to finance or capacity-building opportunities, and they also encounter severe legal, cultural, and societal difficulties in many low-income nations
Women participate in the economy primarily through entrepreneurial businesses, most of which are Micro, Small, and Medium Enterprises (MSME). MSMEs employ 84% of Nigeria’s labor force and contribute 48.47% to Nigeria’s GDP. However, in Nigeria, 54% fewer MSMEs have female ownership than in sub-Saharan Africa as a whole. Only 16.8% of small enterprises and 12.2% of medium enterprises are owned by females in Nigeria, compared to 35% and 29% in sub-Saharan Africa (Mastercard)
Access to Finance is often cited as one of the major factors impeding the growth of women-owned businesses in developing countries. The key barriers include lack of ownership of collateral – as tradition would seldom cede property rights to women; coupled with the absence of credit histories – owing to the fact that most women businesses are informally organized.
A recent World Bank report on the “Investment Climate in Nigeria” showed that capital rather than productivity narrows the range of activities in which women engage. The report also showed that most women (76 percent) rely mostly on internal funds and retained earnings and that only about 1 percent obtain capital from the formal financial sector. The report substantiates that formal financial institutions, especially banks, have not supported women, entrepreneurs, as much as they could have (Halkias et al., 2011).
Small and medium-sized Enterprises (SMEs) in market economies are the engine of growth and development. SMEs contribute to sustainable growth and employment generation in a significant manner and Increasing access to finance for women-owned or operated businesses is a sound strategy for financial institutions if they are to establish a foothold in the SME space.
Therefore, supporting women’s entrepreneurship by means of training and granting financial support is a crucial step to take towards guaranteeing the contribution of women to national economic development.
Having been involved in capacity building and business training for women entrepreneurs for over 4 years through the prestigious African Women Summit, Built to Last series, and other projects, Engage Empower Educate Initiative highlighting the various challenges faced by women entrepreneurs present; The Access to Finance Summit for Women-led MSMEs In Nigeria.
The Access to finance summit will unlock financial opportunities available to women-led Medium scale medium enterprises (MSMEs) in Nigeria. It will provide a shared platform for diverse stakeholders, and financial institutions to expose opportunities for women businesses to secure funding and boost economic growth in Nigeria.
It will also create an opportunity for women-led businesses to be trained appropriately in structuring, creating organizational systems, and positioning their businesses to access finance.
This conference will bring together over 500 female business owners, financial institutions, and investors to exchange candid views on ways to overcome challenges to unlock financing opportunities and enable women businesses to secure funding. we will also stream online to our database of over 10,000 women.
The main objective of the summit is to create awareness of financial opportunities available to women entrepreneurs and facilitate the development of innovative credit solutions to help unlock commercial financing for women-owned small and medium-sized enterprises.⦁ The summit will bring together some of Nigeria’s leading financial institutions and experts on alternative finance to educate women on the available financial opportunities in this rapidly-growing sector.
- To break down barriers especially lack of access to finance and help women entrepreneurs in Nigeria advance their business and uplift their communities
- Provide capacity building to enable financial institutions to exhibit the financial product & services available to women MSME in Nigeria
- Building the capacity of women entrepreneurs, and connecting them to financial institutions and networks, so that they can access funds to expand their businesses to the next level.
- To highlight the various funding streams small-medium businesses can tap into – including peer-to-peer lenders, equity funds, invoice discounters, crowd funders, and locally-based small business loan funds.
- The Summit will support women entrepreneurs by scaling up access to finance, markets, networks and mentors, and information. It will also assist financial institutions in connecting them to women in business.
At the end of the summit,
- Women will be exposed to strategies to mobilize funding and finance to scale their SMEs.
- Be trained on the appropriate structure to enact in their business in order to gain finance
- Boost economic activity, and enable the expansion of old businesses, leading to increased productivity and growth.
Details of the Event
Theme: Harnessing Financial Opportunity for Women-Led MSMEs in Nigeria
Date: Sunday 20th November 2022
Venue: Waterfall Event Centre Ikeja, Lagos
GOLD: Five (5) Million Naira (Headline Sponsor)
- A keynote session at the summit.
- Be part of the panel session to talk more about your product offers for women MSMEs
- Exhibition spot at the Access to Finance Summit
- Acknowledgment at the beginning, at all the breaks during the summit, and at the end of the summit.
- Special recognition award for supporting MSMEs
- Access to our database of over 10,000 women across Africa
- Brand awareness with logo on our website for five (5) months and across all social media and all publicity materials for the summit
- Three (3) Month feature on our monthly newsletter highlighting your product and services to over 10,000 women.
- Branding of inside and outside of the venue
- Access to the panel session at the summit to talk more about your product offers for women SMEs
- Brand awareness with Logo on website for three (3) months and across all social media and all publicity material
- An exhibition stand at the Access to Finance Summit.
- Acknowledgment at the beginning and end of the summit.
- One-month feature on our newsletter highlighting your product and services to our database of over 10,000 women across Africa
- Branding of outside the venue of the summit
Note: Only Eight (8) Spot Available
Bronze: One (1) Million Naira
- Be a part of the Bank Panel session to create awareness of your product offers for women SMEs
- Brand awareness with logo on our website for one (1) month and across all social media and publicity materials for the summit.
- Exhibition stand at the Access to Finance Summit
- Branding of outside the venue of the summit
- Acknowledgment at the end of the summit.
All payments are to be made to
Account Name: Engage Empower Educate Initiative
Account Number: 2033311566 (Naira)
Bank Name: First Bank Nigeria
ABOUT ENGAGE EMPOWER EDUCATE INITIATIVE
Engage Empower Educate is a non-governmental organization founded in 2018 and focused on providing solutions to issues relating to the effective participation of women and girls in promoting peace, security, prosperity, and development in Africa. We are driven by the commitment to empower women and girls and reverse the gender inequality that exists in access to education, finance, governance, and technology.
We can be reached via email address email@example.com or these phone numbers: +2348035762639, +23408133384466, For more information kindly visit our website www.engageafrika.org