12th September, 2023
First City Monument Bank (FCMB) has launched the SheVentures Export Readiness Programme, a new initiative to support women-owned businesses in Nigeria looking to expand into global markets. The programme will give participants access to insightful knowledge, focused advisory, and zero-interest loans to fund their export trade logistics.
“Our mission with the SheVentures Export Readiness Programme is to support women-owned businesses to export their products and services worldwide,” said Mrs. Yemisi Edun, Managing Director of FCMB. “We provide interest-free loans, training, and mentoring to help overcome common challenges such as lack of financial resources and knowledge gap. Our ultimate goal is to empower Nigerian SMEs to scale beyond their local markets by connecting them with other businesses globally and leveraging the vast opportunities of globalization.”
The SheVentures Export Readiness Program is open to all women-owned SMEs in Nigeria who are interested in reaching new markets and growing their businesses. The program will include a series of training modules on topics such as export market research, product development, and export documentation. Participants will also have the opportunity to receive one-on-one mentoring from experienced exporters.
“Nigerian businesswomen face many challenges in their quest to grow successful businesses,” said Ms. Yetunde Moito, Head of Women in Business (SheVentures) at FCMB. “That is why FCMB is giving added support to businesswomen who own or run a business in Nigeria, providing the support they need to thrive. The SheVentures Export Readiness Programme is a game-changer for Nigerian women entrepreneurs, empowering them to scale globally and bridge the capacity and financial gap hindering their full potential.”
A recent report by the National Bureau of Statistics (NBS) revealed that over 41 million SMEs operate in Nigeria, of which women own 40%. Women’s businesses are expected to create 8.9 million jobs in the next five years, contributing significantly to the country’s economy. This indicates the significant role women can play in the growth and development of the Nigerian economy if provided with the proper funding, capacity building, networking, and other opportunities.
FCMB SheVentures has, over the past four years, impacted the female economy through its various initiatives for women SMEs. The Bank has offered up to One Billion Naira in zero-interest loans to hundreds of women SMEs nationwide and supported thousands of female entrepreneurs through free training, mentorship, and capacity-building programs.
The SheVentures Export Readiness Programme strategically aligns with the government’s efforts to boost the nation’s non-oil exports and foreign exchange earnings. The program empowers women entrepreneurs to actively contribute to realizing this important national goal.
First City Monument Bank (FCMB) is a member of the FCMB Group Plc. The Bank is committed to fostering inclusive and sustainable growth within its communities, and it aims to build a supportive ecosystem rooted in Africa, connecting people, capital, and markets. By offering innovative financial solutions like Energy Finance loans, FCMB is helping to improve the economic well-being of businesses and Nigerians.