A coalition of women entrepreneurs, under the banner of the ‘We Want More Campaign’ (#WEEwantMore), has commended Access Bank’s announcement of a $100 million facility to support Micro, Small and Medium Enterprises (MSMEs).
The News Agency of Nigeria (NAN) recalls that the women launched the WEEwantMore campaign online in April, in the form of a petition, to draw the attention of the government and financial institutions to the funding challenges faced by women entrepreneurs.
In a statement issued to journalists on May 12, it was noted that the online petition garnered the signatures of no fewer than 2,500 Nigerian bank customers, all supporting the call for increased funding for women-led businesses.
The coalition appealed to the government and financial institutions to allocate at least 40 per cent of MSME loans specifically to businesses owned by women.
However, it commended Access Bank in a separate statement on Monday for recently announcing a $100 million facility to support MSMEs, with at least 30 per cent earmarked for women-led enterprises.
According to the coalition, the move has been welcomed by gender advocates and campaigners behind the WEEwa₦tMore initiative, making it a step towards bridging Nigeria’s financial inclusion gap for women.
It noted that the facility, which is backed by global development finance institutions including DEG, FinDev Canada, ILX, and OeEB, will provide crucial funding to women entrepreneurs.
The coalition further stated that many women continue to face persistent barriers in accessing loans due to discriminatory collateral requirements and systemic exclusion from traditional financial systems.
Joy Una of Gatefield, a non-governmental organisation (NGO), was quoted as saying, “This is the kind of bold, targeted commitment that women have been calling for.
“For far too long, women have carried the economy on their backs while being locked out of the capital needed to grow their businesses.
“Dedicating 30 per cent of this facility to women is not just progress; it is proof that advocacy works.
“The WEEwantMore campaign, launched in April by a coalition of women leaders and advocates, issued an open letter to Nigerian financial institutions and policymakers, demanding concrete action to close the funding gap for women-owned businesses.
“Among their demands are gender-based lending targets, dedicated credit funds, and simplified access to government intervention loans. Over 60 per cent of Nigerian women entrepreneurs cite lack of access to capital as their greatest challenge.
“Although women own more businesses than men in Nigeria, male-owned businesses consistently earn more revenue, largely due to better access to finance and resources. This announcement by Access Bank must be the beginning of broader structural reform.
“We count this as a win, but we won’t stop pushing until every financial institution in Nigeria sees women not as charity cases, but as the backbone of our economy,” Una added.
The statement also quoted Fifehan Osikanlu, Founder of Eden Group, an NGO, as saying that Access Bank’s announcement sends a strong signal that gender-responsive financing is not only possible, but essential for Nigeria’s economic growth.
According to her, Eden Venture Group, in partnership with Gatefield, launched the #WEEwantMore campaign to advocate for precisely this kind of institutional commitment.
She added that such commitments need to be replicated across the financial sector to close persistent gender gaps and unlock broader national prosperity. (NAN)
