Women have the highest incidence of poverty and suffer from its consequences the most, yet they also have the most direct impact on their families.

From entrepreneurship to agriculture, women significantly contribute to the economic growth.   In its report highlighting the impact of women on Nigeria’s economic development, PwC Nigeria, Advisory partner and Chief Economist, Andrew Nevin, indicated that women account for 41 percent ownership of micro-businesses in Nigeria, with 23 million female entrepreneurs operating within this segment.

The strong entrepreneurial spirit and resilience of women no doubt makes them a major force in the contribution of the micro business sector.

Our perspective on the import of women to the micro business segment is inspired by my mother who was a shop owner. I experienced firsthand the challenges my mother, like other shop owners, faced in the running of her business – issues of lack of access to formal banking institutions, inventory management, access to capital, and so on.

In fact, the formal banking institutions, have denied them access to both small amounts of financing as well as safe place to save their money.