Access Bank, one of the leading financial institutions in Nigeria, has gotten $280 million, about N173.6 billion, from a US agency, International Development Finance Corporation (DFC) to help drive financial inclusion in Nigeria. The deal was signed on Monday, July 25, 2022, in a commitment letter which sees the agency provide financing for Access Bank in Nigeria.
The agency’s Chief Executive Officer, Scott Nathan signed the letter alongside Access Bank’s Managing Director, Roosevelt Ogbonna. The facility will help to address the small and medium-sized enterprises’ funding gap and to advance financial inclusion in the country, according to a statement on Monday, July 25, 2022. The letter also states that the loan will encourage the bank’s commitment to supporting Women Entrepreneurs in Nigeria.
Access Bank is extremely pleased to announce this strategic partnership with DFC to support the multitude of businesses across Nigeria who stand to benefit from greater access to finance, especially in an environment that is in need of stronger economic diversification. “We look forward to utilizing the partnership with DFC in driving further economic expansion and inclusion in Nigeria, with a strong focus on non-oil sectors and women businesses.
How To Apply for Access Bank Womenpreneur Program
The funding has a huge focus on women SMEs which is a very big opportunity for Women Fashion Designers that needs funding to support their business to part take on.
Access Bank already has a women business funding program which started on 12th July and ends on the 19th August 2022 with age limit of 18 – 55 years requirement.