NECA set to establish micro-finance for women’s business

By Victor Ahiuma-Young & Kelechi Azubuike

Nigeria Employers Consultative Association, NECA’s Network of Entrepreneurial Women, NNEW, weekend said it planned to set up a Micro Finance before the end of January 2015, to cater for the business needs of women without asking for collaterals.
At a briefing ahead of its maiden annual Conference/Summit, taking place between Thursday October 30 and Friday 31, President of NNEW, Mrs. Lola Okanlawon, lamented the hurdles women entrepreneurs go through when trying to raise funds from the commercial banks.

He noted all these would be things of the past when the Finance bank comes on stream before the end of January next year, saying “NECA’s Network of Entrepreneurial Women, NNEW, the platform established in 2005 by Nigeria Employers’ Consultative Association (NECA) to promote and nurture entrepreneurship among women.

Speaking on the forthcoming summit, she said “The Summit will further promote entrepreneurship among women and youth in Nigeria.

The contributions of women entrepreneurs in nation building have had immense positive impact both on the nation’s economy and the society, as a whole; so much that the federal government has made a whopping 60 per cent allocation of the recent CBN N250 billion Fund to financing the business of women entrepreneurs.

In view of the above, NNEW is hosting aspiring, emerging and established women entrepreneurs at her maiden Summit tagged “The Catalyst 2014”. The objective of the Summit is to re-orientate, inspire, teach and mentor female entrepreneurs on business strategies, techniques and values necessary for successful and sustainable enterprises.

The conference event includes; plenary sessions, syndicate sessions, panel discussion and networking sessions.”

She said the need to equip women became necessary in view of the fact that women entrepreneurs constitute a greater percentage of micro, small and medium enterprises in the country.

“The contributions of women entrepreneurs in nation building have had immense positive impact both on the nation’s economy and the society as a whole; so much that the federal government has made a whopping 60 per cent allocation of the Central Bank of Nigeria (CBN) 250 billion Fund to financing the business of women entrepreneurs,” Okanlawon said.

She said the conference event which includes plenary sessions, syndicate session and panel discussion will also provide opportunities for mentorship, sales, exhibition and networking.

She listed some of the speakers expected at the event to include; Managing Director/Chief Executive Officer, Ruff ‘N’ Tumble, Mrs. Adenike Ogunlesi, Principal Consultant, Toki Mabogunje and Co., Mrs. Toki Mabogunje. Others are Chief Catalyst, OLMed, Mr. Lanre Olusola, Chief Executive Office, Mindplus Facilitation Company Limited, Mr. Noruwa Edokpolor and Principal Consultant, Experiential Consult Limited, Mrs. Aderoju Odunsi.

- Culled from: http://www.vanguardngr.com