The African Development Bank Group has committed $750,000 in grants to support women-led businesses across Nigeria under a three-year programme aimed at improving access to finance, strengthening entrepreneurship and creating jobs.
The funding will be shared equally among three Nigerian institutions, with each receiving $250,000 to provide business development support to female entrepreneurs.
The AfDB disclosed this in a statement issued on Friday, announcing a partnership with the Lagos State Employment Trust Fund under the second cohort of its Women Entrepreneurship Enablers Project.
According to the statement, the three beneficiary institutions are the Lagos State Employment Trust Fund, the Pan African Women Empowerment Network and ImpactHER Foundation.
The LSETF will receive $250,000 to support 610 women-led businesses, while PAWEN and ImpactHER will each receive an equivalent amount to implement interventions targeting female entrepreneurs.
The statement read, “The African Development Bank Group and the Lagos State Employment Trust Fund have launched
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