Kemi Ajumobi 
One of the greatest challenges in starting or running a business is finance, and help has once again come for women who are either starting off their businesses or scaling up. Among several platforms helping to raise these funds is the Women Exporters in the Digital Economy (WEIDE) Fund. It was launched and jointly managed by the World Trade Organisation (WTO) and the International Trade Centre (ITC) with the aim of empowering women entrepreneurs by helping them grow their businesses through international trade and digitalisation.
According to the Director-General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala, “Nigeria competed and won. They were one of four countries that competed to be part of this initiative. We had 67,000 Nigerian women who applied, 146 won and they are going to have money disbursed directly. 16 of them won what we call the booster track, meaning those of them who already have businesses but those businesses will be scaled up. They will receive technical and business support for 18 months from the WTO and the ITC.
“I am working with the Ministry of Industry, Trade and Investment to make sure these businesses expand, they employ more people, and they put money in their household pockets and in the nation’s pocket. Another 100 will get $5,000 to start and strengthen their businesses, also with 12 months of business support. 146 women beneficiaries and this is just the beginning.” She stated.
“At a time of global trade challenges, this fund will give Nigerian women the tools, knowledge, and networks to thrive on the world stage.” Minister of Industry, Trade and Investment, Jumoke Oduwole said.
“From 67,000 competitive global applicants, the highest number worldwide, Nigeria secured 146 spots. Over the next 18 months, these trailblazers in fashion, agriculture, ICT, beauty, health and tourism will receive intensive training, seed funding, and global connections- the very heartbeat of Nigeria’s entrepreneurial energy.” She added.
It is, for the Honourable Minister of Women Affairs, Imaan Sulaiman-Ibrahim, a welcome development. According to her, “WEIDE is a bold step for women’s economic empowerment in Nigeria. This is not just funding, it is a movement to equip Nigerian women with the tools, knowledge, and networks to compete and win on the global stage.
“With women making up over 50% of our population yet accessing less than 20% of available credit, bridging this gap is not charity, it is smart economics. The WEIDE Fund will help women scale their enterprises, expand market access, and leverage technology to achieve self-reliance.” Imaan said.