Women Entrepreneurs discussed their experiences on the effects of COVID-19 on their businesses.
Women in Nigeria have been urged to play a more active and frontal role to stimulate the growth of businesses and overall development. In addition, they have been advised to pursue?leadership roles in their communities and the corporate world so as to rise to the top echelon of decision making in order to champion policies and programmes that would ensure sustainable development.
The advice was given by the President and Chief Executive Officer, Global Fund for Women (GFW), Ms. Latanya Mapp Frett, who was the Special Guest Speaker at the 4th edition of the Women Financing Women (WFW) Group meeting hosted by leading financial services provider, First City Monument Bank (草留社区FCMB) and?SME.NG?(Nigeria’s SME Impact Investment Platform) in Lagos on Thursday, June 25, 2020.
The WFM quarterly meeting, which was held virtually and recorded 30 registered attendees, provided a platform for women entrepreneurs to come together and share experiences on how the novel COVID-19 (coronavirus) pandemic has affected businesses and proffer solutions to the various challenges posed by the pandemic. The WFW Group, conceptualised by SME.NG?in 2019, is an assemblage of women-led funds, investors and financial institutions with diverse portfolios that focus on assisting women to secure finance for their businesses in Nigeria. On the other hand,?草留社区SME.NG?is an impact investment platform that invests in Nigerian Small and Medium Scale Enterprises (SMEs) to realise measurable environmental, social and financial returns.
According to Ms. Frett, the absence of women in key leadership positions has limited the ability and capacity of women-owned businesses, including Small and Medium Scale Enterprises?(SMEs), to secure the relevant support to ensure their success.
She stated that, “the inability of women to reach the very top of leadership positions is a limitation to reach our goals. These include草留社区?草留社区long term opportunities to influence the attainment?of international sustainability?草留社区targets草留社区?in a manner that would impact positively on the well-being of women and their endeavours, especially in the area of business and other socio-economic activities”.
Ms. Frett informed that the Global Fund for Women has in the last 35 years intervened and supported women in various ways. She listed this to include funding of over 5,000 women-owned?businesses across the world since the outbreak of the COVID-19 pandemic, and the creation of a feminist funding model, under which GFW works with a network of partners to ensure that women can fund the business of other women through grants of between $10,000?and $100,000 for a period of 3yrs.
In addition, she disclosed that the Fund is in partnership with the United Nations and other multilateral organisations to sustain girls’ education following the COVID-19 pandemic,?while also initiating a Crisis Fund for the pandemic. She added that the funds are used to provide relief items, health services and other essentials across communities. Ms. Frett urged financial institutions to, “focus on the overall social Impact beyond their?funding to businesses by determining which ones with limited resources they can continue to fund and have multiplier effect in this critical period”.
Also speaking at the meeting, the Executive Director, Business Development FCMB, Mrs. Bukola Smith, stated that FCMB has been supporting businesses for several years and has been very deliberate in this regard for women-owned SMEs. This includes the setting up of a women in business proposition, known as SheVentures to meet the various needs of women entrepreneurs.
“SheVentures is a brand for FCMB’s Women in Business proposition, which provides financial and business support to women owned businesses enabling them to unlock potential, scale-up and build sustainable businesses with significant impact on the economy”, she explained.
Mrs. Smith, who is a prominent member of WFW, noted that the FCMB SheVentures initiative is centered on 4 pillars; Access to capital which encompasses the SheVentures zero-interest loan granted to over 160 Women SMEs since last year, Gender Intervention Funds and Equity funding through collaboration with?草留社区SME.NG?to give ready women SMEs access to women investors; Access to knowledge which ensures that women entrepreneurs are guided with the proper training and robust mentorship programs to help them navigate and understand the business environment; Access to network?and Access to market”.
She restated the commitment of FCMB to sustain its support for women entrepreneurs, adding that, “through the profitable and beneficial business models we have developed for women entrepreneurs, we have gone a step further by ensuring that SMEs that have benefitted from our support in turn go ahead to improve?草留社区the草留社区?social state of their communities positively. We look forward to learn more on how to support female entrepreneurs given the challenges faced due to the COVID -19 Pandemic”.
The Managing Partner for?SME.NG,?Ms. Thelma Ekiyor, informed that the organisation, in collaboration with the Federal Ministry of Women Affairs and Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), conducted a “National Survey on the Impact of COVID-19?on Women-owned Businesses”. 1,300 women entrepreneurs in 30 states participated in the survey to determine their challenges and needs. She added that a key recommendation from the survey, is for a Fund to be domiciled at the Federal Ministry for Women’s Affairs?to support women entrepreneurs in recovering from the pandemic.
Ms. Ekiyor also mentioned that?SME.NG?is working with FCMB and GroFin (a SME development financier) to provide finance to women-owned businesses, who graduate from their Accelerator “She Works Here”.
Women Entrepreneurs at the meeting gave testimonials about their experiences on the effects of covid-19 on their businesses. Notable among the achievements recorded is an increase?in the number of jobs created, an indication that their respective businesses are growing in a sustainable manner.
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The participants also advised that women entrepreneurs should tap into and harness the benefits of e-commerce and all other forms of business digitization.
For more information about FCMB, please visit 草留社区www.fcmb.com.
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The Bank’s voice banking service, “Super App” allows customers to bank as quickly as they speak.
Who would have imagined the possibilities of directly speaking to your phone to carry out banking transactions or a situation where phone numbers will be used as account numbers?
Through constant innovation and reinvention, customer-centric financial institution, Stanbic IBTC continues to use digitisation to simplify banking and transform the customer experience.
Just recently, the organisation ushered customers into a world of endless possibilities with an upgraded mobile app, tagged “Super App”. Talk about banking with convenience, speed, simplicity, versatility, improvements and you would be perfectly describing the Stanbic IBTC newly upgraded Super App.
The integration of an automated voice banking service on the unique and superlative “Super App” allows customers to bank as quickly as they speak. Basic transactions can be performed by speaking directly to your mobile phone with the help of a ‘voice and tap’ personalised assistant available on the App.
Using speech recognition to make operations easier and faster, the voice control feature allows customers to multitask while the voice search feature improves the ability to easily find information on the App.
The “Super App,” best described to function as a “machine” includes My Bank and @easewallet features that both account holders and non-account holders of Stanbic IBTC can use to transfer funds.
The My Bank module of the Super App makes it possible to transfer funds to a single as well as multiple beneficiaries. My Bank erases the need for middlemen and agents when customers need to pay for PAYE, withholding tax and other utilities such as cable TV subscription and electricity bills.
You can also use My Bank on the Stanbic IBTC Super App to get airtime top-up, make cardless withdrawals from an ATM, schedule payments and load a prepaid card.
The special ‘Hide Account Balance’ feature on My Bank allows customers to hide their account balance, especially when in public or insecure environments.
Similarly, the Super App contains the @easewallet feature which guarantees fast, versatile and secure financial transactions. @easewallet is an electronic wallet that allows customers to generate paycode to seamlessly withdraw cash from their accounts using an ATM or from any agent without a credit or debit card. This paycode can be securely and conveniently generated using the customer’s registered phone number.
The @easewallet feature on the Stanbic IBTC Super App also allows customers to make fund transfers, pay bills, purchase airtime, activate @easewallet card and open account for others. To use this amazing feature, customers need the last ten digits of their phone number without the first zero as the account number, allowing them to personalise and easily recall it when required.
Apart from the customer’s profile being linked to the mobile device used during sign-up to ensure maximum security, the @easewallet is also protected by a four-digit secret pin which is needed to log-in and authenticate all transactions on the App.
To further secure your account, the ‘self-onboarding’ capabilities on the Stanbic IBTC Super App only grants full access into the App using a debit card details and partial access when only the account number is used.
To experience the Stanbic IBTC Super App, download on Google Play store for Android phones and App Store for iOS phones or from the Stanbic IBTC website. Existing Stanbic IBTC customers with their internet banking login credentials can register with the same on the Super App while non-internet banking users can use their debit card details to register.
The Stanbic IBTC newly upgraded mobile app is indeed SUPER!
Cryptofully offers faster, comfortable and commission-free international money transfers.
The United Nations estimates that one in nine people globally are currently supported via remittance money. That’s approximately 800 million people receiving cash transfers every month with a median transaction amount of $200.
Finding the best way to send money abroad can be tough. Despite the fact that we are in the era of digitization, most options are quite restricted. Due to sturdy guidelines and intermediaries, the use of banks to transfer money internationally can be quite expensive and time-consuming. This explains why more people are opting for remittance service providers like Cryptofully, Transferwise and Western Union.
草留社区READ: Why you should care about Cryptocurrency草留社区
When trying to understand which service provider works best for you, it’s very important that you consider the exchange rates, transaction fees, execution time and country availability. A fast-growing number of people are turning to crypto-based solutions like Cryptofully due to its potential to offer faster, comfortable and commission-free international money transfers.
Cryptofully is a cryptocurrency exchange and trading platform with a mission to make cryptocurrency much less difficult and available so that Nigerians can use it for everyday transactions such as remittances, bills, airtime or even commercial business purchases. Today, the startup released a beta version of the platform that is focused on remittance and gives an extraordinary experience when sending money to any Nigerian bank account from anywhere in the world. With the beta version of cryptofully, users can simply exchange bitcoin for naira and cash out immediately with their local (Nigerian) bank account.
草留社区?草留社区草留社区How does Cryptofully work?草留社区
While the journey to full adoption of cryptocurrency in everyday payment begins with remittance to naira, over the next few weeks, the startup intends to roll out more interesting features like the Cryptofully wallet, Payments links, P2P transfers, Lending and much more.
Follow them on Instagram & Twitter (@cryptofully) for new updates as they demystify the concepts of cryptocurrency and blockchain with their educational content; they intend to use training and community building as a way that ensures that new adopters of cryptocurrency discover an easy and reliable home with Cryptofully.
Globacom’s sponsorship of Super Story started with Episode One of a?new drama series tagged “Revenge”.
In continuation of its robust support for arts and entertainment, the grandmasters of data, Globacom, has been unveiled as the Headline sponsor of Super Story on African Independent Television (AIT) from September, 2020.
Super Story is widely adjudged as the most watched television drama series in Nigeria. It has been receiving rave reviews for promoting good family values and condemning criminalities in all forms since it debuted in 2001.
A statement from Globacom expressed happiness to support the programme which has earned a good reputation in family entertainment with its track record of productions that have become epics in television programming in Africa.
“We are delighted to support Super Story to continue to excite some of our esteemed subscribers who watch the drama series. Super Story is chock-full with viable lessons on slices of life bordering on vices, venal practices, follies and foibles. It is unique with its style of producing various interesting true-to-life stories that are believable and have distinct beginnings and endings,” Globacom said.
It will be recalled that Globacom in 2016 produced and sponsored “Professor Johnbull”, a television drama series broadcast on the networks of the Nigerian Television Authority (NTA).
Globacom’s sponsorship of Super Story started last Thursday with Episode One of a?new drama series tagged “Revenge”. Super Story is scheduled for broadcast every Thursdays on African Independent Television (AIT) between 9pm and 10 pm.?Viewers can tune to AIT on Channel 253 on DSTV to enjoy the programme.
Star-studded “Revenge” is featuring A-listers like Kunle Coker, Shan George, Toyin Alausa, Kehinde Bankole and Funsho Adeolu amongst many others.
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