Nigeria’s First City Monument Bank (FCMB) is addressing gender inequality in Nigeria’s business sector with its SheVentures programme.
The bank is fostering its inclusive economic environment by providing interest-free loans of up to N10 million and tailored support to female entrepreneurs in the export and agricultural sectors.
Speaking on the initiative, the Managing Director of FCMB, Yemisi Edun, said that the beneficiaries would also receive exclusive business management training and mentorship opportunities as well as creating a comprehensive support system for business growth.
“This initiative aligns with the bank’s mission of promoting inclusive and sustainable development by connecting people, capital, and markets across Africa.
“Our revamped zero-interest loan offering is tailored to offer sustainable benefits. It marks another milestone in our commitment to empower Nigerian businesswomen to contribute more to export trade, agribusiness, and the economy.
“The enhanced intervention is part of our Export Readiness Programme aimed at supporting women in the SME ecosystem to scale beyond their local markets by connecting them with other businesses globally and leveraging the vast opportunities of globalization,” the report by Vanguard newspaper quoted Edun as saying.
In her remarks, Nnenna Jacob-Ogogo, Head of SheVentures of the bank, described the zero-interest loan offering as a game-changing opportunity for female entrepreneurs.
“SheVentures addresses a critical need, as 52% of women-led firms identified lack of access to funding as a major constraint. We are passionate about empowering female entrepreneurs, helping them build their businesses, and improving the overall success rate of women-owned or run businesses. We urge them to take advantage of this opportunity,” she added.
GIK/APA
Nigerian bank, FCMB offers zero interest loans to female entrepreneurs
