The International Labour Organisation (ILO) has launched the “Promoting Gender Equality and Formalisation through Women’s Entrepreneurship Development in Nigeria Project” aimed at aiding women entrepreneurs to access, build and grow their businesses.
Launching the project at the UN House, Abuja, the Director of ILO’s Country Office for Nigeria, Ghana, Liberia, Sierra Leone and Liaison Office for ECOWAS, Ms Vanessa Phala, said ILO recognised the role of women in spearheading development equilibrium in Nigeria, hence working with critical partners together to design an action plan that would begin to address some of the issues that were identified by the assessment the ILO was conducting.
She said, “Part of the assessment we are looking at is the access to finance – institutions that have been created by government to provide finance to women entrepreneurs. What the assessment would do is try to understand what the barriers to accessing finance are? Is it that the loans and repayments are not attractive? Is it that the process of acquiring that loan is cumbersome for a woman entrepreneur to even start the application process?”