LAGOS: The second Gender Impact Investment Summit concluded with a strong commitment from public and private sector stakeholders to advance actionable strategies aimed at improving access to impact capital for women-led businesses.
The summit, held on Wednesday, September 25, 2024, brought together stakeholders from various sectors to tackle the critical challenges faced by women entrepreneurs in securing financing and to drive impactful solutions that promote gender-inclusive investments.
During the summit, the Minister of Women Affairs and Social Development, Barr Uju Kennedy-Ohanenye, emphasised the importance of breaking down the barriers that have hindered women-led businesses from accessing capital. She expressed the commitment of the President Bola Ahmed Tinubu’s administration to women empowerment.
Participants agreed on key strategies to address these challenges, including enhancing capacity building, overcoming legislative hurdles, and adopting gender-responsive investment practices.
Other speakers at the summit include, Mrs Ibukun Awosika, the Chairperson of the Nigerian National Advisory Board for Impact Investing; Oluwole Ajimisinmi, Executive Director, Lagos Directorate and Remedial Assets Management, Wema Bank; Feyisayo Alayande, Executive Secretary, Lagos State Employment Trust Fund and Yemi Keri, Co-Founder, Rising Tide Africa, among other notable speakers.
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In his welcome remarks, the Chair, Impact Investors Foundation, Engr. Afolabi Oladele, called on investors to bridge the financing gap, fuel inclusive enterprises, and support entrepreneurs to create thriving businesses that can contribute to economic development.
“Let us transform our promise into progress, and our aspirations into tangible outcomes. Together, let us bridge the financing gap, fuel inclusive enterprises, and create a Nigeria where entrepreneurs can flourish and contribute meaningfully to our nation’s economic development,” he said.
Some of the key proposed actions were to simplify application processes by reducing excessive documentation and using digital platforms, provision of mobile banking solutions, and automated systems to facilitate quicker approvals and disbursements of funds for women-led enterprises.
While delivering a call to action to key decision makers in the country, the CEO, Impact Investors Foundation, Ms Etemore Glover, said the solutions proffered by speakers at the summit would open up greater opportunities for women entrepreneurs.
She advocated for continuous dialogue and collaboration among all stakeholders to ensure that the strategies proffered are effectively implemented and sustained.
Glover, CEO of Impact Investors Foundation, said, “This summit has been a significant step towards breaking down the barriers that limit access to capital for women-led businesses. The solutions discussed are critical to ensuring that women entrepreneurs thrive in Nigeria’s business landscape.”
The 2nd Gender Impact Investment Summit has set the stage for ongoing efforts to close the gender financing gap, create a roadmap for mainstreaming gender investment policy in Nigeria, and build a more inclusive investment ecosystem where women-led enterprises can thrive and significantly contribute to Nigeria’s economic growth.
