BOI Disburses N108 Billion to Women Entrepreneurs, Boosts Gender-Inclusive Financing
In a bold move to bridge the gender gap in entrepreneurship, the Bank of Industry (BOI) has disbursed N108 billion in loans to 921 women-led businesses across Nigeria. This initiative underscores the bank’s commitment to empowering female entrepreneurs by expanding access to finance and business growth opportunities.
Speaking at BOI’s International Women’s Day 2025 event, themed “Accelerate Action,” the Managing Director/Chief Executive Officer, Dr. Olasupo Olusi, acknowledged the strides made in gender equality but emphasized that limited access to financing remains a major hurdle for women entrepreneurs.
Citing the 2024 Global Gender Gap Index by the World Economic Forum, Olusi noted that at the current pace, full gender equality might not be achieved until 2158, far beyond the 2030 Sustainable Development Goals (SDGs) target. Despite this, he lauded Nigeria’s improvement on the index, rising from 139th place in 2023 to 125th in 2024, while stressing the need for accelerated efforts to close the gap.
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To tackle this challenge, BOI has increased its financing allocation for women-owned businesses from 7% to 15%, ensuring more female entrepreneurs can access critical funding for business expansion.
“We have disbursed N108 billion to 921 women-owned and led businesses, but this is just the beginning. Our goal is to dismantle systemic barriers and ensure women entrepreneurs thrive in Nigeria’s economic landscape,” Olusi stated.
BOI is also driving gender-inclusive financing through initiatives such as:
The Women Entrepreneurs Finance Initiative (We-Fi) Code, developed in partnership with the Central Bank of Nigeria (CBN) and the Development Bank of Nigeria (DBN) to enhance financial inclusion for female entrepreneurs.
A $50 million Partial Risk Guarantee (PRG) initiative with the African Guarantee Fund (AGF), offering a 75% risk guarantee for loans, prioritizing women-owned businesses and green MSMEs.
These initiatives reinforce BOI’s commitment to leveling the playing field for women in business, fostering inclusive economic growth, and accelerating Nigeria’s progress toward gender parity and financial empowerment.
