African Development Bank has approved a $61 million financing package aimed at supporting women-led businesses in Nigeria, as part of broader efforts to expand financial inclusion and strengthen female entrepreneurship across Africa. The initiative, announced in May 2026, will provide funding and capacity-building support for women-owned small and medium-sized enterprises, as reported by TheGuardian.
The package is expected to improve access to credit for female entrepreneurs who often face structural barriers in securing financing from traditional banking institutions. Officials say the programme will target sectors including agriculture, trade, manufacturing, healthcare, and technology, where women-owned businesses play a growing role in employment and economic activity.
The funding forms part of the AfDB’s broader Affirmative Finance Action for Women in Africa initiative, which seeks to unlock billions of dollars in financing for women entrepreneurs across the continent. According to the bank, Africa faces a financing gap estimated at more than $40 billion for women-led businesses, limiting growth and economic participation.
Analysts say the intervention could help stimulate job creation, boost productivity, and strengthen Nigeria’s small business ecosystem at a time when access to affordable capital remains a major challenge. The move also reflects increasing recognition among development institutions that supporting women entrepreneurs is critical to inclusive economic growth and long-term development across Africa.
