At the Women Investment Readiness Accelerator (WIRA) Demo Day, women entrepreneurs from the informal sector took centre stage at an event hosted by the Development Bank of Nigeria (DBN), with backing from Agence Française de Développement (AFD) and Sterling One Foundation, to help shape the future of women-led businesses.
The event, which brought together investors, ecosystem leaders, and high-potential women to shape the future of women-led businesses, underscores the key role of the development institution in Nigeria’s MSME ecosystem, especially for women founders, who are vital to economic growth.
DBN’s Demo Day concluded an accelerator program providing women entrepreneurs in agriculture, food processing, waste management, retail, technology, fashion, and other impact sectors with capacity-building, mentorship, and business development support.
The pitch showcase was a highlight, where entrepreneurs presented refined, scalable business models to investors and business support organisations.
This moment signified access to funding, partnerships, and expansion for many, opportunities enabled by DBN’s investment in a more equitable entrepreneurial ecosystem.
The WIRA program addresses key obstacles hindering the growth of women-owned businesses in Nigeria, such as limited access to finance, mentorship, and market entry support.
Through WIRA, DBN, and Sterling One Foundation address these barriers by ensuring women entrepreneurs acquire the resources, capacity, and visibility they need to succeed.
Speaking during the Demo Day, Tony Okpanachi, Managing Director of Development Bank of Nigeria Plc, emphasised the importance of sustained investment in women-led enterprises: “What we witnessed here today confirms that investing in women entrepreneurs yields measurable economic and social impact.
“DBN supports innovative and resilient women-led MSMEs poised for growth by providing access to finance, knowledge, networks, and market opportunities. This Demo Day advances Nigeria’s entrepreneurial ecosystem.
Also speaking at the event, Olapeju Ibekwe, CEO of Sterling One Foundation, highlighted the significance of creating platforms that elevate women’s business leadership and visibility: “The women we celebrated today are solutions-builders. They are tackling real challenges with creativity and determination. But potential alone is not enough; support, connections, and capital are essential.
Through WIRA, our goal has been to close the financing and opportunity gap by providing training, guidance, confidence, and access. Today’s pitches are proof of what happens when women are empowered to take up space and lead boldly.”
Investor partners and business support organisations acknowledged the quality and viability of the enterprises showcased, with several founders advancing to follow-up funding and advisory discussions.
The WIRA program remains aligned with broader national and global goals to accelerate gender-inclusive development. With women owning nearly 60% of Nigeria’s SMEs yet receiving disproportionately lower access to capital, DBN’s sustained investment in programs like WIRA demonstrates its commitment to unlocking the full economic potential of women entrepreneurs and advancing inclusive growth across Nigeria.
Sterling One Foundation (SOF) is a registered non-profit focused on tackling the root causes of poverty in Nigeria and Africa through interventions and social impact programmes across three critical sectors, namely: health, education and climate action & food security.
Gender Equality and women’s empowerment are integrated as a cross-cutting priority across all our programming areas. The Foundation’s programmes adopt a central theme of prioritising partnerships for the achievement of the Sustainable Development Goals (SDGs).
The Nigerian government established the Development Bank of Nigeria (DBN) in collaboration with global development partners to address the major financing challenges facing Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria.
Its objective is to alleviate financing constraints faced by MSMEs and small Corporates in Nigeria through the provision of financing and partial credit guarantees to eligible financial intermediaries on a market-conforming and fully financially sustainable basis.
