The Women’s Chamber of Commerce, Industry, Mines, and Agriculture (WCCIMA), has applauded the Bank of Industry (BOI) for its ₦10 billion initiative called Project Guaranteed Loans for Women (GLOW) to support female entrepreneurs in Nigeria.
WCCIMA Director – General Dr. Weyinmi Eribo, praised BOI for the GLOW Fund and expressed commitment to ensuring these initiatives yield tangible benefits for female entrepreneurs.
Eribo highlighted the need for sector-specific financing, noting that the financing gap for women-owned businesses in Nigeria exceeds $42 billion.
BOI’s Managing Director Dr. Olasupo Olusi, recently announced the loan, saying the programme aims to close the financial inclusion gap that many women face.
Despite Nigeria having 23 million female entrepreneurs—41% of the country’s micro-businesses—access to finance is a significant challenge.
Dr. Olusi emphasized that BOI is dedicated to overcoming this barrier with the GLOW Fund, part of a broader strategy for gender-focused financial inclusion.
Collaborating with the Women’s Chamber of Commerce, Industry, Mines, and Agriculture (WCCIMA), the GLOW Fund will provide low-interest loans, capacity-building programs, and mentorship opportunities.
Other BOI financial interventions include the BOI Impact Fund and partnerships aimed at enhancing support for women-led businesses.