The Bank of Industry (BOI) has introduced a new initiative called Guaranteed Loans for Women (GLOW) to empower women entrepreneurs in Nigeria. This fund is specifically tailored to support businesses owned and led by women, aiming to provide them with the necessary financial resources to grow their ventures, create employment opportunities, and enhance their contribution to the Nigerian economy.
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Through the GLOW initiative, female entrepreneurs will have easier access to funding, enabling them to overcome traditional barriers to financing and expand their businesses. This program is part of BOI’s commitment to fostering inclusive economic growth by ensuring that more women have the opportunity to access credit and business support services.
The GLOW Fund is structured to address the gender finance gap by offering guaranteed loans that are simple to obtain for women in various industries, including manufacturing, trade, services, and technology. By supporting women-owned and led enterprises, BOI aims to promote gender equality in entrepreneurship, facilitate financial inclusion, and assist MSMEs owned by women in overcoming financial challenges that hinder their business growth.
