Nimbus Media Limited Grants N40m Support to Women Entrepreneurs

To enhance brand awareness and credibility for 20 women entrepreneurs, the Nimbus Aid Project, an initiative by Nimbus Media Limited, has awarded N40m in advertising support.

Recently, the award and prize-giving ceremony took place in Lagos.

During his welcome address, Mr. Wale Adegoke, the Chief Executive Officer of Nimbus Media Limited, emphasized the essential role of supporting businesses led by women, recognizing them as the foundation of the nation.

He said, “Their unwavering commitment and determination have enabled them to overcome challenging circumstances. They deserve not only praise but also our collective support.”

“Nigerians must ensure that these businesses not only survive but thrive, and the Nimbus Aid Project exemplifies our commitment to this goal, showcasing what we can achieve when we unite to empower one another.”

Uche Uzoebo, the Chief Stakeholder Engagement Officer of SANEF Nigeria, also emphasized the profound connection between establishing sustainable and inclusive business ecosystems and their far-reaching impact on society.

She said, “By creating an environment that actively promotes and supports businesses led by women, we are not only fostering economic growth but also championing gender equality and social progress.”

Uzoebo stressed the importance of addressing the broader challenges and opportunities presented by the business world.

In his keynote speech on the theme “Economic Impact of Women-led Businesses: A Public Policy Perspective,” Dr. Bunmi-Kole Dawodu, the Lagos State Manager of SMEDAN, highlighted the significant contribution women-led businesses make to the global economy.

Citing a McKinsey report, he stated that if women participate in every economy at the same rate as men, the world’s Gross Domestic Product would increase by 26 percent.

Dawodu added, “Women-led businesses also boost the local economy and tend to be more community-oriented. Women-led businesses also close the gender gap.”

He disclosed that SMEDAN recognizes the barriers and challenges faced by female entrepreneurs in accessing capital funding, resources, and networks.

“To support the advancement of women-led businesses, public policy should aim to create gender-sensitive policy programs,” he said.

He added, “In 2023, 70 percent of SMEDAN programs are targeted at women, and we hope to carry that over to 2024, so that we can provide women with more access in our programs, which have gained a lot of traction and scored points. As an agency, we intend to continue doing that.”