Sterling Bank Strengthens Support for Women Entrepreneurs with OneWoman Financing Dialogue in Lagos

Sterling Bank Strengthens Support for Women Entrepreneurs with OneWoman Financing Dialogue in Lagos

Sterling Bank has reaffirmed its commitment to advancing women-led businesses in Nigeria by convening key stakeholders at the OneWoman “Funding Her Future” Breakfast Dialogue in Lagos, aimed at addressing financing gaps and building sustainable support systems for female entrepreneurs.

Sterling Bank, through its women-focused initiative, OneWoman, has brought together women entrepreneurs, development finance institutions, and ecosystem leaders to explore practical solutions for improving access to finance and long-term growth for women-led businesses in Nigeria.

The high-level dialogue, held in Lagos, created a platform for cross-sector engagement on how to unlock inclusive and sustainable financing pathways while strengthening the broader support systems required for women entrepreneurs to thrive.

Speaking at the event, the Managing Director and Chief Executive Officer of Sterling Bank, Abubakar Suleiman, said the initiative was designed to move beyond conversations to actionable outcomes.

According to him, the dialogue reflects the bank’s commitment to translating shared aspirations into measurable impact for women in business.

In remarks delivered on his behalf by the Chief Growth Officer, Edward Ogunmekan, Suleiman described the gathering as a convergence of finance, enterprise, inclusion, and sustainable economic development.

He noted that the initiative is anchored on the belief that economic prosperity is driven by strategic investments in people, ideas, and high-potential sectors, which informed the creation of the OneWoman platform.

Suleiman explained that the initiative operates on three core pillars—capital, capacity, and community—emphasising that access to finance alone is insufficient without the right ecosystem support.

“Women-led businesses require not just funding, but also the networks, skills, and institutional backing needed to scale sustainably,” he stated.

The event featured panel sessions with representatives from funding institutions, women-focused organisations, and entrepreneurs, offering insights into available financing opportunities and the structural challenges limiting women’s access to credit.

Also speaking, the Head of the OneWoman Initiative, Ezinne Nwokafor, highlighted the persistent financing gap faced by women in Nigeria, noting that a large proportion remain excluded from formal credit systems.

She cited data indicating that women entrepreneurs contribute significantly to the micro, small, and medium enterprise (MSME) sector, yet face an estimated $42 billion annual financing gap, according to the International Finance Corporation.

Nwokafor further explained that barriers such as limited asset ownership, social norms, and inadequate financial visibility continue to affect women’s ability to secure loans, with rejection rates higher compared to their male counterparts.

Despite these challenges, she said the OneWoman initiative is positioned to bridge the gap through integrated solutions that combine financing, mentorship, capacity building, and community support.

She disclosed that in 2025 alone, the initiative disbursed N43.9 billion in loans to 2,450 female entrepreneurs, trained over 6,000 women, and reached approximately 380,000 beneficiaries across various segments. She added that the initiative aims to provide N500 billion in loans to one million women by 2030.

In his remarks, Akporee Idenedo, Divisional Head of Commercial Banking, reiterated the bank’s commitment to strengthening the capacity of women entrepreneurs, stressing that skills development remains critical to building a resilient business ecosystem.

The “Funding Her Future” Breakfast Dialogue forms part of Sterling Bank’s broader strategy to deepen financial inclusion and drive enterprise development among women, positioning them as key contributors to Nigeria’s economic growth.