News in brief:
– The UNDP has facilitated a $10 million investment under the #HerAfCFTA program to empower women entrepreneurs in Nigeria.
– This initiative provides market access, funding, and networking opportunities while addressing barriers women face in the trade ecosystem.
The United Nations Development Programme (UNDP) has facilitated a $10 million investment to support women entrepreneurs in Nigeria. This initiative is part of the #HerAfCFTA program under the African Continental Free Trade Area (AfCFTA), which aims to empower women-led businesses by providing access to funding, market opportunities, and business tools.
AfCFTA, an ambitious trade agreement designed to enhance intra-African trade, offers a transformative platform for economic growth. By formalising businesses and expanding market access, the agreement seeks to uplift women entrepreneurs across the continent.
Despite these opportunities, women entrepreneurs face significant challenges such as gender-based discrimination, limited market access, and inadequate business resources. Speaking at the #HerAfCFTA forum in Abuja, UNDP National Programme Specialist Clare Henshaw announced the secured $10 million funding, emphasising that the program aims to address these barriers.
Henshaw shared that the six-month-old initiative has a larger goal of raising $30 million to support women in business. She also highlighted the readiness requirement, urging women entrepreneurs to prepare themselves to seize these opportunities.
UNDP Nigeria Resident Representative, Elsie Attafuah, envisioned a future where Nigerian women-led businesses thrive across industries, from agriculture to fashion. She stressed the importance of collective action among policymakers, entrepreneurs, and business leaders to create an inclusive trade ecosystem.
“Imagine a Nigeria where agro-products meet export demands and women’s voices shape trade policies. This vision begins with you,” she remarked.
