Following its observation that female entrepreneurs are vital to Nigerian’s present and future economy, Kolomoni Microfinance Bank has decided to support female-owned businesses in the country with grants in order to boost the nation’s economy.
The microfinance bank, based on World Bank data, discovered that 41% of the federation’s micro-businesses are controlled by women.
Organising an event for female entrepreneurs on International Women’s Day, Kolomoni invited female owners of businesses to share their experiences in the running of their businesses and present proposals for financial support from the microfinance bank.
The event tagged: “Accelerate Her Growth,” saw five business owners received grants after a competitive pitch among interested participants.
Kolomoni MFB’s IWD event was designed to celebrate women in business while addressing key needs in the local community due to the spotlight it placed on women entrepreneurs and the tangible support it provided for them.
The attendees were not only inspired by success stories but also empowered with practical tools and connections based on the microfinance bank’s resolve to cater to the real-life challenges and barriers female entrepreneurs face.
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One of the beneficiaries of the grants submitted that “this opportunity was more than just financial support, it was a validation of my hard work, a boost of confidence, and a stepping stone toward scaling my business. Thank you so much, Kolomoni.”
Meanwhile, one of the keynote speakers at the event, Ebun Akinwale, declared that running a business is no easy feat -it demands resilience, creativity, and most
importantly, passion.
She captured the audience by sharing her personal journey and unpacking the vital role of passion in entrepreneurship, saying “passion is the fuel that keeps your engine running when everything else fails.”
Though Akinwale acknowledged that passion alone is not enough, she highlighted the inevitable roadblocks that entrepreneurs face, saying “the odds may be against you, but resilience -the ability to pivot and persevere -can be your most powerful tool.”
The management of Kolomoni MFB assembled experts to give the female entrepreneurs present tips that could enhance their efficiency and output in the running of their businesses.
While Odunayo Oyebolu, a seasoned entrepreneur; Victori Ajiboye, a marketing strategist with global experience; and Simi Ojumu, a finance expert, shared invaluable insights at the event.
