UNDP Secures $10m For Nigerian Women Entrepreneurs Under #HerAfCFTA Initiative

Abuja, Nigeria – The United Nations Development Programme (UNDP) has announced a significant boost for women-led businesses in Nigeria, securing $10 million in investment from trade lenders.

This funding is channeled through the UNDP’s recently launched #HerAfCFTA initiative, designed to empower women entrepreneurs to leverage opportunities presented by the African Continental Free Trade Area (AfCFTA).

The initiative, unveiled at a forum in Abuja in collaboration with the Women Chambers of Commerce, Industry, Mines and Agriculture, offers comprehensive support encompassing capacity building, market access, trade facilitation, business networking, investment opportunities, and digitalisation.

These services aim to address the challenges faced by women entrepreneurs across the continent, including gender-based violence, limited market access, and lack of access to essential business tools.

UNDP National Programme Specialist, Ms. Clare Henshaw, highlighted the initiative’s success in securing the initial $10 million for seed projects.

She emphasised that further funding is available, stating, “As we speak…we’ve also been able to pile up a number of businesses and partners that are coming your way, if only you are ready.”

The six-month-old #HerAfCFTA initiative has an ambitious goal of raising $30 million to support women in business.

Ms. Elsie Attafuah, UNDP Nigeria Resident Representative (represented by Senior Economic Advisor, Mr. Tony Muhuuza), outlined the initiative’s three key components:

Her Insights: Providing market intelligence, policy support, and capacity building to enhance competitiveness.

Her Network: Fostering business-to-business connections and digital networking through events and platforms.

Her Facility:  Offering financial and technical support, including trade facilitation, investment in logistics, and branding assistance, to help businesses scale.

Attafuah emphasised the importance of equipping women with the tools to thrive within the AfCFTA ecosystem, stating, “By focusing on market intelligence, branding, compliance, and trade facilitation…we are equipping our entrepreneurs with the tools and knowledge to cross borders, shatter glass ceilings, and redefine trade across Africa.”

She painted a vision of a continent where women lead development, urging stakeholders to build an inclusive and impactful trade ecosystem.

The forum concluded with a call for collective commitment from policymakers, partners, and entrepreneurs to ensure the AfCFTA benefits women entrepreneurs and contributes to Africa’s economic growth.