Woman Africa Presents N5m grant to female entrepreneurs, Urges government on improve ease of doing business

360 Woman Africa, a leadership and business skill development non-profit organization collaborated with African Industries Group (AIG), Nigeria’s steel manufacturing company has presented an N5 million grant to female entrepreneurs. The grant was given to women entrepreneurs to strengthen their businesses and it also urged the government to improve the business environment in the country.

Yvonne Ofodile, the convener of 360 Women Africa, while speaking at its 2023 Enterprise Summit and Grant Awards in Lagos, spoke of the challenges that women encounter in doing business. She said that the initiative provided socio-economic empowerment and women’s engagement through educational opportunities.

Ofodile also called on the government to ensure good policy formation, access to funds, and opportunities to leverage the untapped potential of human resources. She also highlighted the importance of improving the ease of doing business in the country.

“Government policies play a huge role in the success or failure of businesses. For instance, the recent naira policy and its impact on business, sales dropped, and inflation has eaten deep causing a traumatic effect on the economy. Another major issue is the access to funds and human resource capital.”

“Regardless of the challenges brought about by stifling economic environment, entrepreneurs should be attentive and look for ways in which they can stay innovative by employing new technologies and opportunities to push their brands and business.”

The grant was won by four winners who were chosen among 2000 applicants from its Enterprise Skill Development MBA programme. The first prize is a cash award of N2 million with 6 months of Business Mentorship and Office Space. The second and third-prize winners were given N1.5 million and N1 million respectively. They also received 6 months of Business Mentorship and Office Space. The fourth winner was awarded N500,000 with one-year mentorship.