The Bank of Industry (BoI) on Wednesday announced that it has donated more than N13billion ($41.6million) to 232 enterprises owned by women in the country. This aims to help women contribute their quotas to Nigeria’s socio-economic development.

The Group Head of Gender Business at BoI, Adebisi Ajayi, disclosed this during the bank’s celebration of International Women’s Day, in Lagos. Ajayi noted that from 2007 to date, 57, 850 jobs have been created as a result of the bank’s initiative which consists in providing funds to women entrepreneurs. An additional 79, 000 jobs are expected by 2019.

She said, “women have played a vital role in the development of Nigerian economy and BoI has increased women and youth entrepreneurship capacity by encouraging the use of Information and Communications Technology (ICT) to boost businesses.”

Women entrepreneurs in the country lack access to capitals. This according to the Divisional Head of Large Enterprises at BoI, Joseph Babatunde, was due to financial institutions’ demand for collaterals. “It is projected that by 2025 if more women are encouraged to embrace business, the overall GDP will be $28 trillion,” he added.

Anita Fatunji