Lagos State Government Partners With Access Bank To Fund Women Entrepreneurs

Written by on September 5, 2019

Lagos State Governor Mr. Babajide Sanwo-Olu on Wednesday launched ‘LSETF W-INITIATIVE’ to provide funding for women entrepreneurs in the State.

The LSETF W-INITIATIVE, is a special intervention fund contributed between the Lagos State Employment Trust Fund and Access bank Plc, to provide access to affordable finance for female-owned businesses in Lagos State.

The scheme, which targets between 5,000 and 10,000 women, was launched by Governor Sanwo-Olu as part of activities marking his 100 days in office.

The event was attended by various women groups and entrepreneurs led by the president (Iyaloja-General) of Market Women Association, Chief Folashade Tinubu-Ojo.

The Governor said the initiative was a measure to drive up financial inclusion among women and create financial access for SMEs in state, emphasising that it will also provide support to businesses to stimulate growth and consequently create employment for the teeming young population in the State.

In his remarks, the CEO and Group Managing Director of Access Bank Plc, Herbert Wigwe said, “Access Bank is fully committed to bridging the existing gap and provide women with the support they need to successfully implement their business ideas.”

He said Access Bank has a long history of supporting female empowerment, offering over 8,000 personal loans valued at over N10.6billion since 2018, with over 330 loans given to women in business valued at over N16.6billion.

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