Following the discovery that female controlled over 41 percent of the federation’s micro-businesses, Kolomoni Microfinance Bank has decided to support female-owned businesses in the country with grants.
This puts Nigeria among the highest entrepreneurs globally, as there is insufficient real economic empowerment and inclusion for women across the real economic sectors.
This is just as the Microfinance bank organised a special event for female entrepreneurs during the International Women’s Day, where female owners of businesses shared their experiences in the running of their businesses and present proposals for financial support from the microfinance bank.
The event tagged: “Accelerate Her Growth,” saw five business owners received grants after a competitive pitch among interested participants.
The Kolomoni MFB’s IWD event was designed to celebrate women in business while addressing key needs in the local community due to the spotlight it placed on women entrepreneurs and the tangible support it provided for them.
The attendees were not only inspired by success stories but also empowered with practical tools and connections based on the microfinance bank’s resolve to cater to the real-life challenges and barriers female entrepreneurs face.
One of the beneficiaries of the grants submitted that “this opportunity was more than just financial support, it was a validation of my hard work, a boost of confidence, and a stepping stone toward scaling my business. Thank you so much, Kolomoni.”
Meanwhile, one of the keynote speakers at the event, Ebun Akinwale, declared that running a business is no easy feat -it demands resilience, creativity, and most
importantly, passion.
She captured the audience by sharing her personal journey and unpacking the vital role of passion in entrepreneurship, saying “passion is the fuel that keeps your engine running when everything else fails.”
Though Akinwale acknowledged that passion alone is not enough, she highlighted the inevitable roadblocks that entrepreneurs face, saying “the odds may be against you, but resilience -the ability to pivot and persevere -can be your most powerful tool.”
The management of Kolomoni MFB assembled experts to give the female entrepreneurs present tips that could enhance their efficiency and output in running of their businesses.
Speaking during the event, a seasoned entrepreneur; Odunayo Oyebolu, a marketing strategist with global experience;
Victoria Ajiboye and a finance expert, Simi Ojumu, , shared invaluable insights.
According to Oyebolu, “Your business exists to solve a problem. The better you understand that problem, the better your solutions will be.”
While speaking, Ajiboye chimed in with marketing tips, advocating for the use of micro influencers to reach targeted audiences more effectively.
She said: “They may not have millions of followers, but their smaller, loyal audiences can drive real engagement.”
While speaking, Ojumu adviced all the attendees the need to always keep their books in order. Like every other thing in life, opportunities can only be seized if there is adequate preparation.
She said: “Proper record keeping, budgeting and understanding the cost and revenue drivers of your industry are
some of the key elements to sustainable growth in business.”
However, all panelists unanimously stressed the need for business owners to treat success as a journey rather than a destination and concluded that “Business women must learn to set realistic targets, celebrate small wins, and continuously push forward.”
Moreover, “Accelerate Her Growth” was more than just a gathering -it is the beginning of a movement.
It showcased the resilience, creativity, and determination of Nigerian women entrepreneurs while providing them with the tools to thrive.
As the event highlighted, the future is bright when women are supported and empowered.
and then