By Aduragbemi Omiyale
Business grants worth N1.4 million have been given to three female entrepreneurs in the Medium, Small and Medium Enterprises (MSMEs) sector in Nigeria.
The funding support was provided to the female-owned MSMEs by AXA Mansard as part of its continued commitment to women and the sector, which has been described as the engine room of the economy.
The financial package will help the small business owners to boost their operations.
The beneficiaries are Ms Lawon Ajoke of Calcium Hub, who got N1 million; Ms Ngozi Ada Onyekwelu of Ibbie Gold Smart Cards, who received N200,000; and Ms Taiwo Esther of Damseth Enterprise, who also received N200,000.
The trio were picked at the International Women’s Day Pitch Competition organised in partnership with SME 100 Africa in Lagos recently.
The business pitch competition, aimed at supporting female entrepreneurs in Nigeria, “is another way AXA is demonstrating its commitment to the causes of women and stimulating the MSME sector in Nigeria,” according to the Head of Marketing at AXA Mansard, Mr Olusesan Ogunyooye.
He disclosed that the programme provided a unique opportunity for women from various works and socioeconomic classes to showcase their innovative ideas and solutions in sectors such as food, tech, fashion, and fragrance, creating an atmosphere filled with excitement, enthusiasm, and a strong sense of community.
Mr Ogunyooye stressed the importance of investing in women, saying that it is not just the right thing to do; but also aligns with AXA’s purpose of acting for human progress.
He explained that AXA believes the future of women shouldn’t be at risk; hence investing in their economic empowerment is a crucial part of women derisking their future.
“Women are very important in the socio-economic interplay. But more important are women who run MSMEs. We are all aware that MSMEs are the lifeblood of any economy.
So, the more of them we empower, the more jobs we can create, the more wealth can be distributed. This grant for us at AXA is the right thing to do in a lot of ways and we are looking to do more for the Nigerian women and MSMEs,” he stated.
Business Post reports that the business pitch competition received numerous entries from women across different sectors, but after a rigorous selection process, shortlisted participants were selected to participate in the competition.
AXA Mansard is a leading financial services provider committed to helping individuals and businesses achieve their financial goals.
With a focus on insurance, asset management, health insurance, and pension fund administration, we strive to provide innovative solutions that meet the evolving needs of our clients, helping them progress in their daily lives.
