Follow Us on Google
By Chukwuma Umeorah and Ifeoma Nwajei
Access Bank has awarded grants worth about $175,000 and trained over 878 women entrepreneurs through its Womenpreneur Pitch-a-ton initiative since the programme was launched in 2019. The bank disclosed this on Tuesday while announcing the commencement of applications for the seventh edition of the programme under Access Bank’s W-Initiative, designed to promote financial inclusion, entrepreneurship, and holistic well-being for women across Africa through specific-targeted programmes.
Speaking at a press conference in Lagos, Group Head, Product and Segment, Access Bank, Iheme Chizoba, said the initiative, in collaboration with the International Finance Corporation (IFC), was designed to drive grassroots empowerment and serve as a way of giving back to society. “It’s important to us that our women grow, because when you grow a woman, you grow a nation, in terms of empowerment, in terms of making sure that they have something to do and to scale it up for growth,” she said. Project Manager of the Pitch-a-ton initiative, Oyeyipo Ifeoluwa, explained that this year’s edition will train 120 participants in an IFC-certified Mini-MBA programme, while the top 10 finalists will share grants totaling N17.5 million. “We started in 2019, and this is the seventh edition, and over the years we have trained about 878 women, and we’ve awarded grants of up to about $175,000 to women,” Ifeoluwa said.
She added that eligible participants must be female entrepreneurs aged between 18 and 55, operating registered businesses that have existed for at least one year. “You have to have a registered company in Nigeria, registered under CAC, or in your location in the country where you reside. Also, your company must have been in existence for up to one year. So you’ll be able to show that, oh, this is what I have been doing and we’ll help to promote your growth.” According to her, the programme, which began in Nigeria, now extends to other African countries where the bank operates.
Other News
Group Head, W-Initiative, Nene Kunle-Ogunlusi, stressed that the scheme is not sector-specific and provides long-term value beyond financial support. “Aside from the grants, the IFC-certified Mini-MBA which will be awarded to the top 120 after a training course is something that you can’t quantify in terms of financials. However, we also give grants to the top 10. So grants of a total of N17.5 million will be given to the top 10, and then an additional 20 will also get some sort of support or grants to scale their businesses,” she said.
“For those who don’t make it to the top 120, there are other offerings that are available to them, like joining the W-community and then everything that we do. There are other partnerships, training programmes too.” Kunle-Ogunlusi noted that past beneficiaries have gained international exposure, with some securing export opportunities and global recognition.
The bank further stated that alumni are monitored for at least six months after the programme to track progress and ensure business sustainability. She cited examples of participants who have gone on to win international awards, including a $100,000 grant from the MasterCard Foundation, among other success stories.
She encouraged more women to apply, stating, “You have nothing to lose. I always tell people to take a chance. When you see an opportunity drop on you, take a chance.”
