Now with the number of women growing in the entrepreneurial and innovative spaces, the bar is being raised. To this end, several developmental programmes are being designed to equip them with the skills they need to grow amid harsh economic realities. Correspondent Funk Adoji reports.
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Research shows that 83% of Nigerian women consider themselves entrepreneurs. A recent report from the National Bureau of Statistics indicates that women own around 40% of small businesses in Nigeria. These figures reflect a growing shift, as more women take up intensive training and mentorship opportunities to strengthen their ideas, improve their skills, and position their ventures for growth.
One of the latest efforts supporting this shift is the Women Investment Readiness Accelerator, created as an outgrowth of the Africa Social Impact Summit, a forum where innovators and entrepreneurs from Nigeria and across Africa access investment. Organizers say the programme was developed to address a significant gender gap. Even though women own a large share of small businesses, far fewer female-led ventures are accessing funding compared with male-led ones.
A major challenge women face is visibility. Many participants say there is still a lingering societal bias that affects how female entrepreneurs are perceived. One of them explained that many people “neglect the fact that … we are in a society where people don’t necessarily think women can do a lot of things right.” This bias, she noted, often makes women “blindsided,” restricting the attention and support their businesses receive.
After several weeks of hands-on training, participants in the accelerator are now implementing strategies designed to strengthen their innovative ideas and business operations. Organizers say the programme provides critical support, especially for women-led ventures that struggle to secure funding and technical assistance.
They also point out that there are many ways to support women even beyond what this initiative offers. There are countless creative opportunities and alternative pathways to help women succeed. By increasing their capital base and improving their business acumen, the accelerator gives participants leverage and improves their chances of expanding and eventually attracting larger investments from banks or other financial institutions.
The programme aims to close the gap between businesses with the potential to scale and the resources required to achieve that growth. This vision stretches beyond Nigeria, reaching into other parts of Africa and beyond. With new skills, stronger ideas, and a clearer sense of direction, many of the women say they are ready to compete, innovate, and contribute to economic growth. For them, this programme marks the beginning of new opportunities.
