<p class="wp-block-paragraph">“As the
foremost bilateral chamber of commerce in Nigeria, we pride ourselves and
understand that supporting women empowerment is paramount to the growth and
development of the nation and it’s in view of this that we put together this
meeting to discuss the ways we can ensure in-depth financial inclusion to
foster empowerment for women entrepreneurship, social enterprise, corporate and
political leadership to bring about socio-economic development in an encompassing
perspective.”</p>



<p class="wp-block-paragraph">The above
was part of the opening remarks by Otunba Toyin Akomolafe, President’s Nigerian
– American Chamber of Commerce, NACC, at the ;
December 2019 Breakfast Meeting with a theme ; Women Empowerment And Financial Inclusion In
The Nigerian Corporate And Social Enterprise. The meeting held in Lagos.</p>



<p class="wp-block-paragraph">Instructively,
issues around women financial empowerment have, over time, arrested the
interest of government and lending institutions. Statistics indicate that over 60% of the Nigerian adult population is now
financially included, however, the financially excluded proportion of the adult
population still remains large </p>



<p class="wp-block-paragraph">In the
light of this, Development Bank of Nigeria,  ;a financial organisation that was created by
the Nigerian Government in partnership with several international bodies to
provide financial support for Micro, Small and Medium Scale Enterprises (MSMEs)
in Nigeria, submitted that the bank is well positioned to meets and offer al that
is required to finance small and medium enterprise.</p>



<p class="wp-block-paragraph">Bonaventure
Okhaimo, the Chief Operating Officer and Prof. Joseph Nnanna, Assistant Chief
Economist, who both represented Mr Tony Okpanachi, Chief Executive Officer,
Development Bank of Nigeria, emphasized the strategic importance of the bank
including graphic details of its continuous supports to business growth. ; They
pointed out that one of the financial aims of the bank is financial inclusion for women, including providing
long term financing and technical assistance for SMEs. ; “We have increased access to financing and we
provide up to 10 years moratorium,” they stated. </p>



<p class="wp-block-paragraph">The bank, with shareholding from In<em>ternational Bank for Reconstruction and Development</em> (<em>IBRD</em>), European Investment Bank, EIB at the moment, has 20 percent of loan disbursed to women; 20 percent to youths; 1 percent to start ups and 5 percent to disadvantaged region. In addition to the Guest Speaker, the meeting had an all-female panel session with women who have not only set the pace but are also trailblazers in their field of endeavour. </p>



<p class="wp-block-paragraph">Ngover Ihyembe-Nwankwo,
Chairperson, Executive Council, WIMBIZ;  ;Violet Abdulkadir, CEO, Time-Tell Nig Ltd;  ;Temitope Iluyemi, Director, Global Government
Relations – Africa, Procter &; Gamble;  ;Victoria Madedor, Head, Business Development
(Agribusiness &; FMCG), BOI Investment and Trust Company Ltd and Ibilola Amao,
Principal Consultant, Lonadek Incorporated as the Moderator. </p>



<p class="wp-block-paragraph">They all jointly explained their commitment to alleviating specific financing constraints that hamper the growth of domestic production and commerce through various corporate and financial supports to fill identified enterprise financing gaps in the MSME segment. Development Bank of Nigeria and Procter and Gamble Nigeria sponsored the meeting which incidentally served as the last Breakfast Meeting for the year 2019</p>



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