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IFC Unveils 100 Women Start-ups to Receive Growth Support Through She Wins Africa

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IFC has announced the names of 100 women-led startup owners selected to participate in the She Wins Africa program, an IFC-led initiative that aims to accelerate access to capital for women-led startups across sub-Saharan Africa.

The selected women will participate in comprehensive interventions that will strengthen their companies’ investment readiness, include advice and mentorship, and provide access to potential investors, industry leaders, and peers through matchmaking and pitching opportunities across Africa.

The initiative is a part of IFC’s broader commitment to promote gender equality and empower women entrepreneurs in emerging markets.

The 100 participants announced today were drawn from almost 3,000 applicants comprised of women entrepreneurs across Africa in sectors ranging from ag-tech, climate-tech, e-commerce, ed-tech, health-tech and fintech etc.

Sub-Saharan Africa has the highest rate of female entrepreneurs globally, with approximately 26% of female adults involved in entrepreneurial activity. However according to a 2021 World Bank report, women founders in Africa receive only about three percent of start-up finance.

In addition to the investment-readiness program for the 100 selected participants, She Wins Africa will roll out other initiatives, including:

  • a bootcamp to help lead 200 pre-seed women-led startups into acceleration phase,
  • an initiative to open up acceleration support for an additional 200 women-led startups in areas where such support is not easily available; and
  • a program to create a coalition of funds, venture capital firms and gender-lens investors to improve access to finance for women and their businesses across Africa.

“IFC’s She Wins Africa empowers women entrepreneurs through coaching, training, and financing, accelerating their growth and investment readiness throughout sub-Saharan Africa, said Nathalie Akon Gabala, Director of Gender and Economic Inclusion at IFC. “It’s time for investors to step up and fund women. A strong entrepreneurship ecosystem benefits us all.”

Today’s announcement follows the launch of the She Wins Africa program at the Africa CEO Forum in Côte D’Ivoire in 2023. She Wins Africa is the second initiative of its kind, following IFC’s She Wins Arabia program which has supported 170 women entrepreneurs and more than 35 Entrepreneur Support Organizations (ESOs) in North Africa and the Middle East since 2021.


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NIMASA, BOI Partner to Grow Capacity In Maritime Sector

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Nigerian Maritime Administration and Safety Agency (NIMASA) and the Bank of Industry (BOI) have initiated discussions on strategies for capacity building in the maritime industry.

Dr. Dayo Mobereola, Director General of NIMASA, represented by the Executive Director of Maritime Labour and Cabotage Services, Mr. Jibril Abba disclosed this during a visit by the management of the bank led by Executive Director of Large Enterprises, Mrs. Ifeoma Uz’Okpala.

Osagie Edward, the agency’s Head of Public Relations, said in a statement that in addition to safety, security and maritime labour, the agency’s mandate encompasses capacity development aimed at growing the sector.

Also, Mobereola explained that NIMASA’s commitment to collaboration was a vital tool for achieving its mandate.

He said: “The aim is to actualise the vision of the Federal Government to reposition the maritime sector, especially with the creation of the Ministry of Marine and Blue Economy.”

Also, Uz’Okpala affirmed the bank’s readiness to support NIMASA, emphasising the importance of collaboration in implementing a robust capacity-building initiative that would contribute to economic growth in Nigeria.

She noted: “Bank of Industry Limited is Nigeria’s oldest and largest Development Finance Institution (DFI) currently in operation. It is owned by the Ministry of Finance Incorporated (MOFI) Nigeria (94.80 per cent), the Central Bank of Nigeria (CBN) (5.19 per cent) and private shareholders (0.01 per cent).


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FG VAT Collection Up 9.11% to N1.56tn

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The federal government’s aggregate receipt of the Value Added Tax (VAT) in Q2 2024, stood at N1.56 trillion, indicating a growth rate of 9.11 per cent on a quarter-on-quarter (QoQ) basis from N1.43 trillion in Q1 2024.

The figure represents a 99.82 per cent increase compared to the N781.35 billion collected in the corresponding quarter of last year.

According to numbers released by the Nigeria Bureau of Statistics (NBS), On a quarter-on-quarter basis, the Q2 VAT rose by 9.11 per cent from N1.43 trillion in Q1 2024.

The data showed that local VAT payments recorded were N792.58 billion, foreign VAT payments stood at N395.74 billion, while import VAT contributed N372.95 billion in Q2 2024.

Analysis of the NBS numbers showed that human health and social work activities recorded the highest growth rate with 98.44 per cent, followed by agriculture, forestry and fishing with 70.26 per cent, and water supply, sewerage, waste management and remediation activities with 59.75 per cent.

Contrarily, activities of households as employers, undifferentiated goods- and services-producing activities of households for own use had the lowest growth rate with –46.84 per cent, followed by real estate activities with –42.59 per cent.

In terms of sectoral contributions, the top three largest shares in Q2 2024 were manufacturing with 11.78 per cent; information and communication with 9.02 per cent; and mining and quarrying with 8.79 per cent.

“Nevertheless, activities of households as employers, undifferentiated goods- and services-producing activities of households for own use recorded the least share with 0.00 percent, followed by activities of extraterritorial organisations and bodies with 0.01 per cent; and water supply, sewerage, waste management and remediation activities with and Real Estate Services 0.04 per cent each.

“However, on a year-on-year basis, VAT collections in Q2 2024 increased by 99.82 per cent from Q2 2023,” NBS stated.


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GOCOP Partners NCDMB, EMADEB, Dangote, NCAA, Setraco, UBA, NCC, Others for 2024 Conference

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Partners for the eighth annual conference of the Guild of Corporate Online Publishers (GOCOP) have begun to emerge with the Nigerian Content Development and Monitoring Board (NCDMB), Emadeb Group and Dangote Group leading the train of partners for the event slated for Thursday, October 3, 2024 at the Reverton Hotel, GRA Lokoja, Kogi State.

The chairman of the 2024 Conference Planning Committee, Danlami Nmodu, mni, also listed other partners to include Nigeria Civil Aviation Authority (NCAA), Setraco Nigeria Limited, United Bank for Africa (UBA) and Nigerian Communications Commission (NCC), according to a statement by
GOCOP Publicity Secretary, Sir Remmy Nweke.

Nmodu was also quoted as saying that the eighth conference would center on the theme: “Nigeria: Tackling Insecurity, Power Deficit, and Transitioning to Digital Economy” and will hold on Thursday, October 3, 2024 from 10am. The keynote will be delivered by former governor of Cross River State, Senator Liyle Imoke.

Read Also: Imoke, Buratai, Maida, others to headline GOCOP 2024 conference in Kogi

Additional partners for 2024, he said, comprised the Nigerian Safety Investigation Bureau, Access Bank plc, Zenith Bank plc, First City Monument Bank (FCMB), Fidelity Bank plc, Sovereign Trust Insurance Plc (STI), Nigerians in Diaspora Commission (NIDCOM) and National Film and Video Censors Board (NFVCB).

A major highlight of this year’s conference, Nmodu said, is a business luncheon with GOCOP partners on Wednesday, 2 October, at the same venue, while the conference itself would hold on Thursday, October 3.

Nmodu noted that the 8th edition would be chaired by former Nigeria’s Ambassador to Spain, Alhaji Yusuf Mamman, with the former Nigerian Chief of Army Staff, Lt-General Tukur Yusuf Buratai (Retd) and the Executive Vice Chairman, Nigerian Communications Commission (NCC), Dr. Aminu Maida as Guest Speakers, while a Professor of Political Science at the Federal University Lokoja, Prof. Rotimi Ajayi and an edutainment communicator and veteran broadcaster, Ms Debrah M. Ogazuma are panellists.

Nmodu recalled that GOCOP conference 2023 was chaired by the JAMB Registrar and Chief Executive, Prof Ishaq Olarenwaju Oloyede, while the first Nigerian Professor of Capital Market, Prof. Uchenna Joseph Uwaleke was the keynote speaker.

Previous speakers at the annual conference consisted of Rev. Matthew Hassan Kukah, the Bishop of the Catholic Diocese of Sokoto who delivered the 2019 lecture on “Economy, Security and National Development: The Way Forward.”

In 2021, Mr. Boss Mustapha, Secretary to the Government of the Federation, keynoted the Conference in his capacity as Chairman of the Presidential Task Force on Covid-19. He spoke on: “Post Covid-19 Pandemic: Recovery and Reconstruction in Nigeria.”
In 2022, Professor Mahmood Yakubu, Chairman, Independent National Electoral Commission, delivered the keynote entitled “2023 Elections: Managing the Process for Credible Outcome.”

GOCOP was established to ensure that online publishers uphold the tenets of journalism.

Membership of the Guild is a constellation of editors and senior journalists who, having distinguished themselves in their various positions in the print and electronic media, ventured into online publishing which is both the present and future of journalism globally.

The Guild has over 104 corporate publishers as members.


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