Lagos, Nigeria: The Lagos State Government and the African Development Bank (AfDB) have launched a programme to strengthen 610 women-led small businesses in the state, in one of the most targeted efforts yet to close the financing and skills gap facing female entrepreneurs in Nigeria’s commercial capital.
The Affirmative Finance Action for Women in Africa (AFAWA) Women Entrepreneurship Project was formally launched at a signing ceremony at Lagos House, Ikeja, according to Worldstage News. It will be delivered through the Lagos State Employment Trust Fund (LSETF), with Somo Africa as the implementing partner.
What the 610 businesses will receive
The AfDB is backing the project with a seed grant, although the amount has not been disclosed. Selected micro, small and medium-sized enterprises (MSMEs) will receive:
- Training, mentoring and business advisory support
- Help to improve financial management and adopt digital tools
- Preparation to access finance from lenders and investors
- Business connections and links to new markets
Why it matters for women-led MSMEs in Lagos
Women run a large share of small businesses in Lagos, from retail and food processing to fashion and services, yet many struggle to grow because they lack collateral, formal records or access to bank credit. By combining training with preparation for finance, the project aims to make these businesses easier to lend to, not just to support them for a few months.
Governor Babajide Sanwo-Olu, represented at the event by his Deputy Chief of Staff, Sam Egube, said the programme’s success would be measured by its impact on the businesses: how they are managed, their access to markets, their readiness for finance, their sustainability and the jobs they create. Dr Abdul Kamara, Director General and Acting Vice President of the AfDB, described the partnership as a foundation for further interventions across Nigeria.
The Lagos State Commissioner for Wealth Creation and Employment, Akinyemi Bankole Ajigbotafe, was also at the launch.
What to watch
Details on how women-led businesses can apply, the selection criteria and the size of the grant are yet to be announced. Business owners should watch LSETF’s official channels for the application window. Radarr Africa will update this story as details emerge.
