For countless women across Nigeria, the dream of growing a business often ends at the doorstep of a bank — where funding seems out of reach. But that story may finally be changing.
The Bank of Industry (BOI) has launched a groundbreaking initiative — the Guaranteed Loans for Women (GLOW) Fund — setting aside ₦10 billion to empower women-owned and women-led enterprises nationwide.
The fund isn’t just about lending money; it’s about rewriting the rules that have long excluded women from equal financial access. Designed with flexibility and inclusivity in mind, GLOW offers guaranteed, low-interest loans with simpler requirements and extended repayment options — the kind of support that allows women to focus on building, not just surviving.
Empowering Nigeria’s Female Trailblazers
According to BOI’s Managing Director, Olasupo Olusi, the initiative is rooted in a simple truth — that Nigerian women are already among the world’s most active entrepreneurs. With more than 23 million women running businesses and accounting for over 40% of the nation’s micro-enterprises, the real challenge isn’t drive or talent — it’s access to fair funding.
“Women are the backbone of innovation and community development,” Olusi said. “Our goal is to make financing simpler, faster, and more transparent, so they can do what they do best — create, lead, and transform lives.”
The GLOW Fund forms a key part of the BOI’s 2025–2027 strategy, which places gender inclusion at the heart of Nigeria’s economic growth plans.
How the GLOW Fund Works
The programme provides guaranteed loans to registered women-led businesses in Nigeria across all sectors — from fashion and farming to tech and trade. Applicants can access flexible loan amounts at reduced interest rates, with minimal collateral.
But GLOW goes further than finance. Beneficiaries also receive mentorship, business support, and visibility within Nigeria’s entrepreneurial ecosystem — giving them the tools and networks to scale sustainably.
Applications are open through BOI’s official portal. Interested entrepreneurs are required to submit verifiable business documentation, demonstrate growth potential, and commit to using funds strictly for expansion.
Fueling the Next Generation of Women Founders
The launch of GLOW comes at a time when access to capital remains one of the biggest barriers to women’s progress in business. Many startups led by women operate informally or close due to lack of funding, even though studies show that women-led ventures have a higher rate of reinvestment in their communities.
By introducing a guaranteed loan model, BOI aims to change this narrative — helping women move from small-scale operations to thriving enterprises that create jobs, spur innovation, and build stronger local economies.
Beyond Loans — Building a Movement
BOI’s initiative is more than a policy; it’s a promise of partnership. The GLOW Fund envisions a Nigeria where financial doors are no longer locked to half its population — and where women are not just running businesses but shaping industries.
In Olusi’s words:
“It’s not just about giving out loans; it’s about building confidence, strengthening communities, and proving that when women succeed, nations prosper.”
Applications for the ₦10 billion GLOW Fund are now open on www.boi.ng — and for many Nigerian women, it may be the spark their dreams have been waiting for.
