Abuja — The United Nations Development Programme (UNDP) has facilitated $10 million in investment from trade lender for business women in the country.
This lift is coming under the recently launched #HerAfCFTA initiative of UNDP which is aimed at helping women entrepreneurs in Nigeria as part of the African Continental Free Trade Area (AfCFTA).
The programme offers support in areas such as: capacity building, market access, trade facilitation, business networking, investment, and digitalization.
The AfCFTA is a trade agreement that aims to boost intra-African trade and promote economic development. It presents opportunities for women entrepreneurs to formalize their businesses, access new markets, and grow their businesses.
Women entrepreneurs on the continent have been reported to be facing challenges ranging from gender-based violence, limited market access, and lack of access to business tools.
Speaking at the #HerAfCFTA forum in Abuja with the theme: Empowering Women-led Micro, Small, and Medium-sized Enterprises for continental trade opportunities, the UNDP National Programme Specialist, Ms. Clare Henshaw said the UN agency under the #HerAfCFTA has been able to successfully facilitated the $10 million as seed projects.
At the forum, which is in collaboration with Women Chambers of Commerce, Industry, Mines and Agriculture, Henshaw also disclosed that there would be more funding for women and youth in business but they have to be ready.
She said: "As we speak, not only have they successfully facilitated $10 million investment from trade lenders to seed projects, just one business, we've also been able to pile up a number of businesses and partners that are coming your way, if only you are ready."
She revealed that the six months old #HerAfCFTA initiative has a target of raising $30 million to support women in business.
On her part, UNDP Nigeria Resident Representative, Ms. Elsie Attafuah, speaking on equipping the women to break the barriers confronting them, said the initiative focuses on equipping them with tools needed to succeed within the AfCFTA ecosystem.
Attafuah who was represented by the Senior Economic Advisor, UNDP, Mr. Tony Muhuuza, stressed that the initiative is unlocking a wealth of information for Nigerian women entrepreneurs, while at the same time widening their network.
The UNDP Nigeria Representative said: "Our #HerAfCFTA initiative focuses on equipping women with tools they need to succeed in the continental trade ecosystem. Under this initiative, we at UNDP have designed three key components to address the unique challenges that women face and to ensure their success in this new trade environment.
"Under #HerAfCFTA, we focus on equipping women entrepreneurs with insights and tools they need to navigate regional and international trade.
"By providing access to market intelligence, policy support and capacity building, we empower women to make informed decisions that enhance their competitiveness.
"We are unlocking a wealth of information for Nigerian women entrepreneurs. Number two is her network. Collaboration is very, very key to scaling up success.
"And this component creates platforms for enhanced business-to-business connections and digital networking. From virtual matchmaking events to in-person dialogues like the one we are having today, our AfCFTA network is about building bridges, fostering relationships that can lead to transformative trade opportunities. The third is her facility.
"This is about scaling a business require resources and her facility will actually focus on normalizing the financial, technical support needed to make that happen.
"From trade facilitation to investment in logistics to branding and export processes, our facility component ensures that women entrepreneurs are equipped to scale their operations and compete effectively in both the local and regional markets. Today's masterclass and sessions are an embodiment of this vision.
"By focusing on market intelligence, branding, compliance, and trade facilitation, we are not only addressing immediate challenges but also equipping our entrepreneurs with the tools and knowledge to cross borders, shatter glass ceilings, and redefine trade across Africa."
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She said she sees a continent where women are in forefront of development.
She further said: "Imagine a Nigeria where women-led businesses thrive, where agro-products are scaled to meet export demands, where garments and handmade goods are displayed proudly in shops across Africa, and where women voices shape trade policies and negotiations. This vision will actually start with you.
"As we move forward, we implore you to make collective commitments.
Policy makers, women partners, business leaders, and entrepreneurs, we need to build a trade ecosystem that is inclusive, innovative, and impactful.
" As I conclude, let us ensure that the AfCFTA becomes a living testament to Africa and to make sure that we invest in the greatest resource that its people have, especially the women that have the potential to turn these possibilities into realities."
