Alitheia Capital has called for a coordinated effort to bridge the funding gap limiting the growth of women-led businesses in Nigeria. The third edition of W.O.M.A.N. (Women in Manufacturing, Agribusiness and Nutrition), Alitheia Capital’s annual conference, brought together over 300 screened women-led businesses, investors, policymakers, and development partners. The conference aimed to chart a path on capital, energy, artificial intelligence, and markets for business resilience.
Managing Partner and Co-Founder of Alitheia Capital, Tokunboh Ishmael, stated that many women-led businesses with growth potential remain excluded from financing. Most businesses present at the conference had never accessed formal capital, despite having growth potential. Ishmael explained that the problem lies in design, not a lack of ambition. The conference featured over 300 revenue-generating businesses that were assessed against a revenue threshold and formalization status.
Lagos State Governor, Babajide Sanwo-Olu, represented by the Commissioner for Agriculture and Food Systems, Abisola Olusanya, acknowledged the finance constraint. Sanwo-Olu declared that overcoming this obstacle requires a collective effort from government, financial institutions, private equity, and entrepreneurs. The governor's representative emphasized the need for collaboration to address the funding gap.
Ifeyinwa Ighodalo, Co-Founder of WIMBIZ and Founder and CEO of DO.II Designs Limited, delivered the keynote address. Ighodalo tasked participants on financial discipline to tap into investment opportunities. She emphasized that financial discipline creates business legibility, credibility, and access to capital and growth opportunities.
Co-Founder of Alitheia Capital, Jumoke Akinwunmi, noted that the businesses represented at the conference demonstrated that the challenge goes beyond entrepreneurial readiness. Akinwunmi's remark suggests that the issue is more complex and requires a multifaceted approach. The conference provided a platform for women-led businesses to network and access resources.
The W.O.M.A.N. conference provided a unique opportunity for women-led businesses to connect with investors, policymakers, and development partners. The event featured screened businesses that demonstrated growth potential. Participants discussed ways to address the funding gap and create a more enabling environment for women-led businesses.
The conference highlighted the need for a coordinated effort to support women-led businesses in Nigeria. Key stakeholders, including government officials, investors, and entrepreneurs, emphasized the importance of collaboration. The event concluded with a call to action to address the funding gap and create opportunities for growth and development.
Key points
- Alitheia Capital's W.O.M.A.N. conference brings together women-led businesses, investors, and policymakers to address funding gap.
- Over 300 screened women-led businesses participated in the conference, demonstrating growth potential but limited access to formal capital.
- Stakeholders emphasize the need for a coordinated effort to support women-led businesses and address the funding gap.
