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Tag: Women entrepreneurs

  • MasterCard Index of Women Entrepreneurs released

    The MasterCard Index of Women’s Entrepreneurship (MIWE) was released yesterday. The report showed Nigeria as the Africa country with the highest score in the Women’s Advancement Outcomes category with 62.4 per cent.

    Other Africa countries that also ranked high in the same category are Botswana, Ghana, Uganda and South Africa with 61 per cent, 59.1 per cent, 55.7 per cent and 54.6 per cent respectively.

    The Women’s Advancement Outcomes adjudged countries based on women’s progress and degree of marginalization economically and professionally as business leaders, professionals, entrepreneur and labour force participants.

    The MIWE is a weighted index that helps to better understand and identify factors and conditions that are most conducive to closing the gender gap among business owners in any given economy.

    The three factors include Women’s Advancement Outcomes, Access to Knowledge and Financial Services, and Supporting Entrepreneurial Factors. The Index examined 57 different economies around the globe, including Botswana, Ethiopia, South Africa and Uganda; with Ghana, Nigeria and Malawi as new additions.

    According to the report, it was revealed that 46.4 per cent of businesses in Ghana are owned by women, making it one of the top performing African countries highlighted in the index. African countries also scored highly in women labour force participation – with Malawi at 100 per cent, Ghana at 96.1 per cent, and Ethiopia at 86.6 per cent.

    South Africa excelled in sharing knowledge assets with women and providing financial access, with a score of 84.3 per cent– coming in sixth out of 57 countries. Botswana followed closely with a score of 73 percent.  Botswana and South Africa were the highest scoring African countries in the Index overall with scores of 66.5 per cent and 64.2 per cent respectively.

    When compared to other African markets surveyed Botswana leads the charge with the highest rate of Supporting Entrepreneurial Conditions, at 68.1 per cent, this is an increase of two per cent from last year.

    Indicating that the country has positive Cultural Perceptions of Women Entrepreneurs and Quality of Governance.

     

    The continent scored highly in terms of women Financial Inclusion with South Africa at 98.7 per cent, Ghana scoring 84.6 per cent, and 77.1 per cent in Ethiopia.

    The Index results revealed that female entrepreneurs in developing countries are driven by grit and determination, along with a desire to provide for their families. The findings reinforce that women entrepreneurs are the backbone of economic growth and powerful engines of development and financial inclusion, especially in Africa.  The Index also showed an interesting contrast: women’s progress and advancement as entrepreneurs is not necessarily aligned to the pace of their own country’s economic growth and wealth. In fact, the highest rates of ownership are seen in developing economies where entrepreneurship is typically necessity-driven.

    Women entrepreneurs in Africa and other developing markets have proven to be equally vibrant, resourceful and innovative in finding opportunities to improve their own lives as well as create a better future for their children.

    “Botswana, Ghana and Uganda shine as examples of women’s determination to provide for themselves and their families and Africa excels at creating strong women entrepreneurs with the drive to succeed even in the face of financial, regulatory or technical constraints,” says Beatrice Cornacchia, Head of Marketing and Communications, Middle East and Africa, Mastercard.

    An interesting outcome of the Index is that cultural perceptions of women entrepreneurs in Africa are predominantly positive – at 69.1 percent in Uganda and 67.2 percent in Nigeria, this is well above their Middle Eastern counterparts.

    According to the Index, some women’s inclination towards business ownership may be undermined by limited access to education, financial and entrepreneurial opportunities. These are by no means only African – or developing – countries challenges, however. Women entrepreneurs even in developed nations face cultural and gender biases that restrict them from opening or expanding their own businesses.

     

  • Skye Bank empowers women entrepreneurs

    Skye Bank empowers women entrepreneurs

    Skye Bank Plc is committed to empowering women entrepreneurs across various sectors of the Nigerian economy. This position was further reinforced by the bank when it presented certificates of proficiency to three lucky members of the Skye Pearl community who participated in the just -concluded three-month art of fashion training organised by Ibile Vogue Academy.

    The training, which is a give-back initiative of Skye Bank and Ibile Vogue Academy, entails both executive and full time classes that teaches students everything about fashion; from pattern drafting, colour sequencing, garment construction to soft business skills; as well as provide linkages to help students develop their own clothing line with the aim of grooming top notch fashionprenuers.

    Speaking at the presentation of the certificate, the Head, Retail Banking, Skye Bank Plc Mrs. Ayodele Olojede, lauded the graduands and praised everyone who played a significant role in making the dreams of the participants in the training come true. She challenged them to start adding value with the skills they have acquired, so as to stay competitive.

    Mrs. Olojede also noted that the initiative was embarked upon as part of the gains of being part of the Skye Pearl community. “This, for us, is both a give-back and value add under our Skye Pearl Initiative beyond just funding which a bank is naturally known for adding that, “our aim is to address the peculiar challenges of the woman, the wife, the mother and the professional with a view to empowering her economically.

    Director of Studies, Ibile Vogue Academy, Mrs. Temitope Olanre-Alade, applauded the bank for the initiative and particularly for providing the platform (Skye Pearl) that made it possible for her organization to also give back to society. In her words to the graduands: “You owe Skye Bank and Ibile Vogue Academy immensely and therefore you should do everything within your power to make us proud.”

  • Our success stories, by women entrepreneurs

    They are budding women entrepreneurs with the passion to turn business ideas into reality. Their determination to succeed, against all odds, has paid off. Today, they are role models to other aspiring women entrepreneurs. They shared their success stories during the African Women Power (AWP) Network tagged “Get Connected Business Series” in Lagos.

    Founder, Easyshope-asycook.com, an online groceries business, Mrs Saudat Salami, is on her way to building a business empire. Already, her  company is the toast of customers far and near, seeking fast, convenient and cost-effective grocery shopping experience.

    When The Nation met the successful woman entrepreneur  cum master trainer at the African Women Power (AWP) Network tagged:  “Get Connected Business Series”, held in Lagos, recently, she said  she started the business with the aim of providing support to working women, who may find it difficult managing their homes and work life.

    Mrs Salami was guest speaker at  the forum, which was  created  to provide insights and information needed to help entrepreneurs and employees grow and get to the next level. The entrepreneur, who   pioneered online grocery business in Nigeria, said her company, EasyshopEasycook.com, delivers fresh groceries to customers’ doorsteps.

    Although, she started the business, originally with the target to provide support to working women who may find it difficult managing home and work life, it has since expanded. Today, she catters to the needs of working women living in traffic congested urban areas  such as  Lagos State. She also supports retired, older women who need help with shopping, including people abroad who want to shop for their parents at home in Lagos.

    With more than 25 people on her payroll, Salami is not only an employer of labour, but she has also managed to position herself and her company  in the forefront of developing the agric value chain and food safety standards in Nigeria.

    At EasyshopEasycook, Salami said food waste could be reduced and food prices far cheaper than it is currently  if facilities such as pack houses, cold chain storage and delivery infrastructure are spread across the country.

    In line with her role model status, Salami has been  motivating women, urging them to  take up entrepreneurship.

    However, she is not the only female entrepreneur who has made a success of her career. Future Software Resources Nigeria Limited Managing Director,  and winner of the 2012 Etisalat Nigeria Prize for Innovation, Nkem Uwaje, is also a success story.

    Uwaje created the iConnect project focused on making Information Communications Technology (ICT) and education more accessible to youths in Nigeria.  Her father came up with the name Futuresoft in 1999 when he first incorporated the company. He always told her  that he created the company for her , and when she  was ready to start her own business in 2008, she  inherited it.

    While Uwaje worked for a startup, she realised she  could run the business better than the founder. This gave her the confidence to take the bold step to start her own  company.

    With  $600 as start up capital, she  produced high-quality web solutions at an affordable price and in a timely manner. She then began to re-invest any profit she  made. Since then, she has recovered her  investment and this has been an encouragement for her.

    Uwaje said her long-term goal is to launch various projects  such as iConnect and grow them into self-sustainable business units. This will position the company  as a leading ICT company in Nigeria and West-Africa.

    Asked what were the key things she has learned since starting her business?  She said being bold, patient, never to give up and sticking to  principles are her winning strategies.

    The Founder of the AWP Network, Mary Olushoga, said her organisation recognised women doing amazing work in their various communities.

    Olushoga belongs to a generation of entrepreneurs who caught her teeth in business by understudying her  father who was an entrepreneur. He father owned Fisbol Nigeria Limited. He also worked as a consultant to several  companies such as AJ Seward, Pfizer, Eleganza, Doyin Industries, and Cocosheen, among others.

    This spurred Olushoga to veer into business, starting the AWP network – a platform to empower  small businesses. “We provide valuable access to business resources, educational tools and community support,” she said.

    The idea was to provide a supportive community to African entrepreneurs to grow their businesses that will be sustainable and in turn create jobs.

    So far, AWP Network has  completed a number of entrepreneurial training programmes. These include its training programme for women farmers in Taraba State due to the major sponsorship she received from the Planet Earth Institute. Olushoga said she plans to establish major farming hubs throughout Nigeria.

    Other speakers at the forum  included Director, WAAW Foundation, Tolulope Adeyemo; Founder, Pearls Africa, Abisoye Ajayi and Ubong King.

  • Mentoring walk for women entrepreneurs

    Mentoring walk for women entrepreneurs

    For women trying to start a business, it can be a daunting prospect, which is why The Women Mentoring Women Network, hosted a mentoring walk for  prospective women entrepreneurs in Calabar, the Cross Rivers State capital to help  them  get the guidance they seek.

    It was an opportunity for entrepreneurs to be mentored by industry experts as they make a walk across the ancient city. The Founder/Faculty Lead,  Centre for Career Development, Miss Esther Eshiet, shared her vision, which is to provide support for young entrepreneurs in three ways– inspiration, information and mentoring.

    Miss Eshiet highlighted  the benefits of  mentoring in the lives of young women to include knowledge, experience and access to networks.

    She urged mentees to make good use of the opportunity; managing the privilege and unique perspectives the mentors are bringing to their lives.

    In spearheading the walk, Miss Eshiet walked the streets of Calabar in company of other leading female executives, including Head of Branch, Planned Parenthood Federation of Nigeria, Mrs. Aja Enun; Executive Secretary, Cross River State Investment Promotion Bureau, Tutu Ekeng; Director of Fisheries Department, Ministry of Agricultural Development, Mrs. Maria Ojugbo, Chief Executive and See Babazi World, Doreen Aji, amongst others.

    With a focus firmly on mentoring, the event saw young girls and most active and helpful enterprise investors in the state getting together. While they walk together, women and girls demonstrated the power of sharing successes and challenges and building meaningful connections that boost confidence and promoting growth and leadership.

    For many, the connections they build are the start of an ongoing mentoring relationship. Preceding the mentoring walk was a mentors’ breakfast meeting and a mentees brunch. The 2016 Women Mentoring Walk was supported by Nestle Nigeria and CUSO International and delivered in partnership with Idea Builders Initiative.

    Mentor, Mrs. Maria Ojugbo said: “There is fundamental need to mentor girls in our society, having that anchor  that guides and enables them achieve their goals in life is why I keep signing up as a mentor.”

    Mentee,Teresa Effiong said: “I have nice ideas and grand dreams but my problem is how to achieve them; I am hopeful that my mentor will help me achieve my goals.”

  • Keystone empowers women entrepreneurs

    Keystone Bank Limited has through its Pink Network organised a training programme aimed at growing the businesses of its many female entrepreneurs.

    The training, which held in Lagos, was termed PinkPreneur and it’s the first edition of sessions that would be held regularly. Various facilitators taught on efficiently using social media to promote businesses, business education and importance of creating a sustainable business structure and educating the participants on the benefits of the flagship Pink Account.

    The founder, Masterpiece Resource Development Centre, Mrs. Module Oyekunle, who spoke on discovering and developing their business and career ideas, gave participants business tips on how to properly set up a business in Nigeria and the basic structures one must put in place to  succeed and using the Pink Marketplace to sell and expand their customer base.

    At the training, the Divisional Head, Product and Marketing Support, Keystone Bank, Temitayo Olutoye said the bank is committed to supporting female entrepreneurs, which was the strategic reason for creating the Pink Network and the training sessions.

    On the benefits of the Pink Account, she said: “This account is about financial inclusion and making it possible for women to express themselves. It is also a simple account that speaks to the need of every woman. It is about speaking to the needs of women and bringing us together and letting us express ourselves.”

    She urged the participants to take advantage of its Ecommerce platform as well as the other benefits offered by this account to ease and encourage female entrepreneurs.

    She added: “We also have mentors on the platform and those interested in shopping can go to the market place. Also, those interested in life materials can go to the resource centre. It is a unique platform and it is part of what the brand stands for. For us, it’s about passion, convenience and reliability.”

     

     

     

  • NBC provides trade assets for women entrepreneurs

    The Nigerian Bottling Company (NBC) Limited has instituted a trade asset financing scheme to empower women traders. Under the scheme, NBC would provide the women with trade assets and products for trading where football pitches are upgraded under the COPA Coca-Cola tournament.

    Speaking at the handover ceremony of the trade assets and products at the Jakande Estate Pitch, Isolo, Head, Public of Affairs and Communications, Nigerian Bottling Company (NBC), Mr. Uzo Odenigbo, said women empowerment and youth development remain key focal areas of the company’s interventions as the company continuously partners with communities on shared values.

    “As a business, we leverage women economic power as a force for growth to further our shared objective of social and economic development. Our route to market is leveraged on women entrepreneurs who represent nearly 70 per cent of our dealers, operating our distribution channels and retail outlets across the country. We believe that unleashing the entrepreneurial potential of women is one of the surest ways to make our business sustainable, and one of the most effective and lasting ways we can help families and communities prosper,” Odenigbo said.

    Odenigbo added that NBC has continuously partnered with the communities, identifying women with entrepreneurial mindset, who are diligent and would live up to the expectation of growing their businesses to support their families and communities.

    He noted that the women were exposed to practical business skills training relevant to managing and nurturing a business in a sustainable manner.

    This gesture has again demonstrated NBC’s commitment to empowering local communities and supporting women entrepreneurs. Other beneficiaries of the initiative are community women in Agege, Oworonsoki and Orile in Lagos State. The four communities received upgraded pitches from COPA Coca-Cola as part of their efforts towards developing grassroots football and raising young talents.

  • LCCI Women Group hosts women entrepreneurs confab

    The Women Group of the Lagos Chamber of Commerce & Industry (LCCI) is to host an international conference designed to evolve strategies to increase the participation of Nigerian women in business.

    The conference, slated for Ruby Gardens, 4th Roundabout by Oando Petrol Station, Lekki, Lagos, is billed for October13 according to a statement, signed by the chair of the Women Group, Hon. Adenike Shobajo.

    The theme for the conference is Developing the Next Generation of Female Entrepreneurs.

    Shobajo said: “The conference would bring notable women from diverse backgrounds in business and industry together, to evolve strategies on how to boost women entrepreneurs in the next generation.”

    The special guest of honour for this year’s conference include Chief Dr. (Mrs.) Nike Akande, who is also the Deputy President of the LCCI and a former Minister of Commerce and Industry. Others include Princess Sarah Sosan, and some prominent women leaders from Nigeria and abroad.

    The President of the LCCI, Alhaji Remi Bello is to preside at the one-day event.

    The Women Group of the LCCI is charged with the responsibility of coordinating the activities of female members of the body in the promotion of their businesses and key projects of the LCCI.The group also arranges programmes, geared towards promoting women empowerment.

    It also networks with women organisations at the state, federal and international levels the aforementioned.

  • Ecobank empowers women entrepreneurs

    Ecobank Nigeria is partnering Women’s Entrepreneurship Day (WED) on the hosting of this year’s Women of West Africa Entrepreneurship (WOWe) Festival.

    WOWe Festival 2015 with the theme: Vision to Reality slated for June 25 and 26 will provide the opportunity for female entrepreneurs and corporate professional women with entrepreneurial ambitions, to secure practical information on how to transform their businesses and realise their entrepreneurial ambitions.

    The conference, the bank said in a statement, will also provide a high level networking platform that connects the most influential women entrepreneurs who exchange ideas, address challenges, will uncover new strategies and dialogue on issues relating to entrepreneurship and leadership.

    Deputy Managing Director, Ecobank Nigeria, Tony Okpanachi said the bank decided to partner  the festival because of its belief in female entrepreneurs. He was optimistic that the existing and budding entrepreneurs would find the knowledge sharing from the festival useful.

    “As a bank, it is part of our philosophy to sponsor initiatives such as this. We believe this interactive and engaging dialogue from experts that have been assembled to facilitate at the conference will assist existing and budding entrepreneurs in becoming their own brands and job creators for their societies and have a positive impact on the sub-region economy.”

    Founder, WOWe, Tori Abiola said this year’s festival brings a completely new and superior experience for women entrepreneurs as it incorporates its first exhibition running with co-located seminars for two full days. “This amazing platform will give visitors the opportunity to network, showcase products and give 10 lucky VIP guests the opportunity to pitch to investors looking to fund $1,000,000 towards women driven entrepreneurship ventures at the show.”

    She explained that the event will also feature eight seminar streams, workshops and master classes which will focus on fashion and beauty; technology and digital powerhouses; finance and investments; manufacturing; agri-business; the creative industries – design, media and entertainment; talent and skills management; export.

    She added that attendees will have opportunity to examine future trends favouring women entrepreneurship, identify immediate long and short term needs of definitive industries and uncover up-and-coming technologies that will add value and assist in business growth and overall profits.

  • Skye Bank pledges support for women entrepreneurs

    Skye Bank Plc has pledged to provide female entrepreneurs and professionals with the necessary advisory and technical support services to advance their enterprises.

    Its Executive Director, South South/Southeast,  Mrs. Ibiye Ekong, who spoke at an interactive session with women in business organised by the bank in Lagos, noted that women were known to be better business managers than men, citing the low default rate among female borrowers to their male counterparts.

    She said women were not known for diverting loans to other uses other than what they are meant for and assured that the bank would work to ensure that customised products and banking solutions are developed for them.

    She noted that women in business have been shying away from taking loans to expand their business owing to ignorance and absence of collateral facilities and other factors.

    She also said the forum would enable the bank to know how to prepare the businesswomen to qualify for loans.

    The Skye Bank director said the Central Bank of Nigeria (CBN) and the Bank of Industry’s interventions through the Small and Medium Enterprise (SMEs) loan scheme would assist women to grow their businesses and contribute to employment creation in the country.

    Ekong further disclosed that provision would be made for preferential consideration for the business women in respect of their loan needs against the background of their good credit history and commitment to pay back loans granted to them.

    Skye Bank’s Directorate Head, Corporate Services, Mrs. Abimbola Izu, advised attendees at the breakfast meeting to organize themselves into sector groups for easy access to credit and for benefits derivable from collective action.

    Izu said coming together to advance their business interests would enable women to enjoy the benefits of economies of scale and shared services which might be impossible should they pursue individual course of action. Women drawn from the manufacturing, oil & gas, educational, food, health, consulting, professional association, NGOs and wellness sectors attended the session.

     

     

     

     

     

  • AfDB backs women entrepreneurs

    The African Development Bank (AfDB) has reiterated commitment to supporting women entrepreneurs achieve their goals.

    Florence Kouadio, an Ivorian, said during the bank’s celebration of the International Women’s Day that women can be presidents, bank directors, entrepreneurs, and can drive the African continent forward. Women have a right to be decision-makers, and they are doing it.

    Kouadio said: “Many girls are now going to school unlike before when they remained at home to do household chores as boys pursued education. More women are speaking out against harmful practices such as female genital mutilation, which is prevalent in many African nations,” said the award-winning artist.

    Patricia Anoma Cissé, technical counsellor to Côte d’Ivoire’s Minister of Industry and Mining, observed the need for formulation of policies that benefit women and communities at large. “We have to be very deliberate on making plans with women in mind. We have to work together with them to identify their needs and how these can be met because their participation in policy formulation processes is participation in development,” said Anoma Cissé.

    She cited policies in her country that have encouraged women to come together, forming one of the largest networks, a body of farmers from across the country, which provides food for the entire nation.

    The National Federation of Croppers Cooperatives, supported by the bank, is now marketing products for its members, and consequently supplying different kinds of food items throughout the nation. “Our members are now economically empowered. They are able to earn good income and support their families,” remarked Colette Irié Lou, the group’s chairperson.

    Statistics from World Bank indicate that 75 per cent of women in the country’s rural areas live below the poverty line. “With support to establish income generating activities, women in my country, especially in the villages, can be self-sufficient just as I have become,” said Irié Lou.