First City Monument Bank (FCMB) has launched an innovative initiative to tackle gender inequality in Nigeria’s business landscape. The SheVentures programme offers zero-interest loans of up to ₦10 million to female entrepreneurs, focusing on the export and agricultural sectors.
Key Highlights:
- Zero-interest loans up to ₦10 million for women-led businesses
- Tailored support for export and agricultural sectors
- Exclusive business management training and mentorship opportunities
- Part of FCMB’s Export Readiness Programme
FCMB’s Managing Director, Yemisi Edun, emphasised the programme’s significance: “Our revamped zero-interest loan offering is designed to provide sustainable benefits. It underscores our commitment to empowering Nigerian businesswomen, enabling them to contribute more significantly to export trade, agribusiness, and the overall economy.”
The initiative addresses a critical need in Nigeria’s SME ecosystem. According to Nnenna Jacob-Ogogo, Head of SheVentures, “52% of women-led firms identify lack of access to funding as a major constraint. We’re passionate about helping female entrepreneurs build their businesses and improve their success rates.”
Impact and Reach:
- Nearly ₦780 million in zero-interest loans have been disbursed since 2019.
- 334 women-owned SMEs are supported nationwide.
- Aligns with FCMB’s mission of promoting inclusive and sustainable development.
The National Bureau of Statistics reports that women own a significant portion of Nigeria’s 41 million SMEs. FCMB’s SheVentures programme aims to leverage this potential, connecting female entrepreneurs with global markets and opportunities.
For female entrepreneurs looking to scale their businesses beyond local markets, FCMB’s SheVentures programme offers a comprehensive support system. It combines financial assistance with training and mentorship, creating a solid foundation for business growth and success in the global marketplace.
To learn more about the SheVentures programme and how to apply, visit FCMB’s official website or contact your nearest FCMB branch.