The Development Bank of Nigeria says women-owned enterprises account for about 74 percent of its funding disbursement since it began operations.
The Managing Director, DBN, Innocent Okpanachi, disclosed this at the bank’s International Women’s Day 2025 celebration under the theme “Accelerate Action” in Abuja.
Okpanachi said for the bank, gender inclusion is more than just a commitment but a strategic imperative.
“We do not just believe in women’s economic empowerment—we are funding it, enabling it, and scaling it. Over the years, we have taken deliberate action to ensure that more women-led businesses have access to financing and capacity-building programs.
“To date, DBN has disbursed over N272 billion to more than 518,170 women-owned businesses, which account for 74% of the bank’s beneficiaries. This reflects DBN’s unwavering commitment to empowering female entrepreneurs across the nation.”
He revealed that the bank has supported female entrepreneurs in diverse sectors, including fashion, agribusiness, technology, trade, healthcare, and renewable energy, ensuring they contribute meaningfully to the economy.
“But we are not stopping here. We recognize that access to finance alone is not enough. Women entrepreneurs need more than capital; they need strategic partnerships, policy support, mentorship, and market access to thrive in an increasingly competitive world.”
The MD noted that strategic partnerships are in place to accelerate support for women in the financial ecosystem.
“One of our recent milestones is the Women Entrepreneurs Finance Initiative (WE-FI) Code, a landmark partnership with the Central Bank of Nigeria (CBN) and the Bank of Industry (BOI) aimed at enhancing women’s access to finance, capacity-building, and business networking.”
The bank at the event also launched the Development Bank of Nigeria Gender Impact Report (2017-2024), which is a detailed assessment of DBN’s gender-related initiatives, focusing on women-led micro, small, and medium enterprises (WMSMEs).
The document seeks to highlight the outcomes and transformative impact of the bank’s targeted financing and capacity-building programmes.
This report includes data from DBN’s Participating Financial Institutions (PFIs), independent evaluations, reports such as Enhancing Financial Innovation and Access’ (EFInA) Access to Financial Services in Nigeria, and insights from the gender aspects of the CBN’s National Sustainable Banking Principles (NSBPs).
These data sources are complemented by case studies and testimonials from women entrepreneurs who have benefited from DBN’s interventions.
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