As Nigeria’s financial landscape shifts, women are moving from the fringes to the center of economic leadership. Leading this charge is FSDH Merchant Bank’s Women in Business Initiative (WIBI), which recently celebrated its fifth anniversary. Over the past five years, the bank has channeled more than $3.9 million (₦3 billion+) into women-led enterprises, proving that targeted institutional commitment is the key to unlocking the full potential of the female economy.
Despite the rise of female entrepreneurs in tech, manufacturing, and the creative sectors, structural barriers—particularly limited access to credit—remain. FSDH’s model addresses this through a “finance plus capability” approach.
Breaking the Credit Barrier with Blended Finance
Traditional credit models often disadvantage women due to rigid collateral requirements. WIBI bypasses these hurdles by combining commercial lending with de-risked capital from global partners:
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Concessionary Rates: A partnership with the Bank of Industry (BOI) deployed ₦100 million in loans at a competitive 15% interest rate.
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Risk Mitigation: Collaborations with the African Guarantee Fund (AGF) and AFAWA provide partial guarantees, reducing the risk for the bank and the barrier for the borrower.
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Cash-Flow Lifelines: Over $550,000 (₦500 million+) was provided in short-term, collateral-free facilities to help businesses manage supply chain disruptions and seasonal swings.
The Capability Multiplier
FSDH views capacity building as a fundamental component of financial success, not an optional add-on. Through partnerships with the IFC and the Enterprise Development Centre (EDC), the bank has trained over 500 women to become “investor-ready.”
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Business Fundamentals: Training covers bookkeeping, governance, and financial planning to ensure long-term sustainability.
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Digital Growth: Helping entrepreneurs master customer acquisition and digital marketing.
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The Tech Edge: The Female Founders Growth Programme provided 15 tech-led companies with mentorship and a $10,000 non-equity grant to refine their business models.
Community and Visibility as Currency
The initiative culminates annually in the Women in Business Summit. In November 2025, the summit served as a high-level exchange for leaders in fintech, film, and manufacturing. These platforms provide:
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Strategic Networking: Connecting grassroots entrepreneurs with corporate decision-makers.
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Market Visibility: Elevating women-led brands to attract global investor attention.
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Policy Influence: Creating a unified voice to advocate for gender-disaggregated data and inclusive financial policies.
The Road to 2026: Future-Proofing the Female Economy
As Nigeria targets significant economic expansion by 2026, the financial sector must evolve. FSDH identifies three frontiers for the next phase of gender-smart banking:
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Bundled Solutions: Combining asset financing, insurance, and invoicing tools into single packages.
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Digital Integration: Leveraging mobile-first onboarding and simplified KYC (Know Your Customer) processes to reach informal female traders.
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Data Transparency: Tracking gender-disaggregated performance to refine products and prove the superior repayment discipline often found in women-led portfolios.
The success of WIBI demonstrates that when women are given the right tools—capital, capability, and community—they don’t just participate in the economy; they accelerate it.
