Women Get 52% Of DBN Loans.
AMINA HUSSAINI, Abuja
Development Bank of Nigeria (DBN) says that 52 percent of the loans it approved were disbursed to women.
Chief Financial Officer of DBN Ijeoma Ozulumba Thursday during International Women’s Day celebration in Abuja, said Nigeria has a lot to gain by empowering women which is best done by formalising their businesses.
By formalising their businesses she argued that women will be able to access financial instruments to scale up their businesses almost for free.
She told the women present that “by formalising your businesses you can access funds from the formal system almost for free. “
Earlier in his address, Managing Director of DBN, Mr. Tony Okpanachi said that DBN was interested in women because they “recognize that women are important and critical to ensuring the stability, progress and development of our nation.”
He noted that “for any society to flourish, women must be given equal opportunities.”
DBN’s mandate he said “is to alleviate financing constraints faced by the Micro, Small and Medium Enterprises in Nigeria”
This Okpanachi said is achieved “through the provision of financing and partial credit guarantees to eligible financial intermediaries on a market conforming and fully financially sustainable basis.”
“in Nigeria today, women are still disadvantaged due to limited access to education, which has a ripple effect on earning power and economic opportunities. It’s time to change the narrative for women” he said.
Nigerian women he said have the power to transform the economy “as they have continued to make us proud in different spheres of human endeavour.”
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