BY NGOZI ONYEAKUSI

L-R: Akporee Idenedo, Divisional Head, Commercial Banking, Sterling Bank; Ezinne Nwokafor, Head, OneWoman Initiative, Sterling Bank; Thelma Luke Nwoye, Group Head, Business Finance, Sterling Bank; ‘Solape Akinpelu, CEO/Founder , HerVest; Edward Ogunmekan, Chief Growth Officer, Sterling Bank at the OneWoman Gender Lens Breakfast Dialogue held at The Wheatbaker Hotel, Ikoyi

Sterling Bank, through its women focused initiative, OneWoman, convened a powerful gathering of women entrepreneurs, development finance institutions, ecosystem leaders, and business stakeholders at the Funding Her Future Breakfast Dialogue in Lagos.

The session brought together voices from across sectors for a focused and necessary conversation on how to unlock more inclusive and effective financing pathways for women led businesses in Nigeria.

At its core, the dialogue was not just about access to capital. It was about building the right systems around women entrepreneurs. Conversations explored how financing, business readiness, ecosystem support, and institutional partnerships must come together to drive long term growth and resilience.

Speaking at the event, the Managing Director and Chief Executive Officer of Sterling Bank, Abubakar Suleiman, noted that the gathering was designed to move beyond intention and into action.

“Today is about going further. It is about turning shared belief into shared action,” he said.

In his welcome remarks, delivered on his behalf by the Chief Growth Officer, Edward Ogunmekan, Suleiman described the dialogue as a meeting point of finance, enterprise, inclusion, and sustainable economic growth.

“We are honoured to host such a distinguished gathering of partners, investors, women entrepreneurs, and business leaders, all brought together by one important question. How do we expand access to meaningful finance for women-led businesses in a way that is scalable, sustainable, and commercially sound?”

He explained that the conversation reflects a long- standing conviction at Sterling that real prosperity is built by backing people, ideas, and sectors with strong potential. This belief, he noted, is what gave rise to the OneWoman initiative.

According to him, OneWoman was created to support women through three key pillars which are capital, capacity, and community.

He added that while access to finance is critical, it is only one part of the equation.

“Women-led businesses need the right support systems, the right networks, and the right ecosystem to grow with confidence and scale with resilience,” he said.

The event also featured two panel sessions with representatives from funding institutions, women focused organisations, entrepreneurs, and ecosystem partners. These conversations provided practical insights into financing opportunities available to women, while also examining the broader support systems required for sustainable growth.

Also speaking at the event, Ezinne Nwokafor, Head of the OneWoman Initiative, highlighted the urgency of addressing the financing gap facing women in Nigeria.

She noted that a significant majority of Nigerian women remain excluded from formal credit, with only a small percentage able to access structured financing. Despite improvements in financial inclusion, women continue to face systemic barriers that limit their ability to secure funding.

Nwokafor pointed out that women account for a substantial share of micro, small, and medium enterprises and contribute meaningfully to the economy, yet face a financing gap estimated at 42 billion dollars (USD) annually according to the International Finance Corporation.

She also referenced data showing that more than half of women led businesses identify access to finance as a major constraint, while rejection rates for loan applications remain significantly higher for women than for men.

According to her, these challenges are often linked to structural issues such as gaps in asset ownership, social norms, and limited access to financial data and visibility.

Despite these barriers, she emphasised that the opportunity is significant.

“Sterling’s OneWoman initiative is positioned to bridge this gap by combining financial solutions, mentorship, capacity building, and community support for women across different stages of their journey,” she said.

She added that in 2025 alone, the initiative gave out N43.9 billion loans to 2,450 female entrepreneurs, trained 6,000 of them, served about 380,000 women across three sectors of career women, women in business and freshers and their vision 2030 is to give out N500 billion loans to one million women across their three sectors.

Also speaking, Akporee Idenedo, Divisional Head of Commercial Banking, reaffirmed the bank’s commitment to addressing the concerns raised during the dialogue. He stressed that building skills and strengthening capacity will remain essential to creating a sustainable ecosystem for women entrepreneurs.

The Funding Her Future Breakfast Dialogue forms part of Sterling Bank’s broader effort to deepen its support for women through targeted financing, enterprise development, and community driven growth.

Through OneWoman, the bank continues to build platforms and solutions that empower women to grow sustainable businesses, create jobs, and contribute more meaningfully to economic progress.