The Development Bank of Nigeria (DBN) has introduced a new financial initiative aimed at improving access to funding and business support for women-owned enterprises, as part of efforts to address financing gaps affecting female entrepreneurs and strengthen the growth of micro, small and medium-sized enterprises (MSMEs) across the country.
The initiative, known as DBN Action for Women in Nigeria (DAWN), is designed to tackle barriers that have historically limited the ability of women-led businesses to secure affordable credit, expand operations and compete effectively in the marketplace. It combines financing support with credit guarantees, technical assistance, targeted grants and improved access to markets.
The programme was announced during DBN’s seventh annual lecture in Abuja, which focused on translating Nigeria’s economic reforms into sustainable growth for MSMEs. DBN Managing Director, Dr Tony Okpanachi, explained that providing finance alone was not sufficient to help women entrepreneurs scale their businesses, making a more comprehensive support system necessary.
Under the initiative, women entrepreneurs are expected to benefit from improved connections with financial institutions, business advisory services and market opportunities across sectors including agriculture, exports, healthcare, the creative industry, technology and green businesses.
The programme aligns with DBN’s broader five-year strategy, which seeks to mobilise ₦1.3 trillion in fresh debt and equity capital to expand financing for small businesses. The bank has also set a target of directing 40 per cent of its lending towards women-owned businesses and 30 per cent towards youth-led enterprises over the strategy period.
According to the bank, its existing interventions have already channelled substantial funding to MSMEs through a network of participating financial institutions. DBN reported cumulative disbursements of more than ₦1 trillion to small businesses, with women accounting for a significant share of beneficiaries.
The initiative also responds to persistent challenges faced by women entrepreneurs, including stringent collateral requirements, high borrowing costs, limited access to formal financial services and gaps in business management capabilities. By combining funding with guarantees and technical assistance, DBN aims to improve the ability of financial institutions to lend to businesses that might otherwise struggle to meet conventional lending requirements.
Speaking at the annual lecture, government representatives emphasised that financing programmes must produce measurable economic outcomes. These include stronger business productivity, improved sustainability, employment creation and increased income for entrepreneurs. They warned that loans alone would not guarantee success without reliable electricity, market access, affordable borrowing and the skills required to manage growing enterprises.
For Nigeria’s economy, the initiative could help strengthen women’s participation in entrepreneurship, increase the resilience of small businesses and support job creation. Women-owned enterprises operating in agriculture, manufacturing, trade, technology and other productive sectors could benefit from improved access to capital and business development support.
However, the programme’s impact will depend on the accessibility of its financing arrangements, the effectiveness of participating financial institutions and the extent to which beneficiaries can translate support into sustainable business growth.
The launch of DAWN represents a further step in DBN’s efforts to close the financing gap affecting women-led enterprises. Its long-term success will ultimately be measured by the number of businesses that expand, the jobs created and the extent to which women entrepreneurs gain sustainable access to finance and wider commercial opportunities.
