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  • Business - Entrepreneurship
  • Updated: Jun 29, 2020

COVID-19 Palliatives Being Initiated For Female Entrepreneurs In Nigeria

COVID-19 Palliatives Being Initiated For Female Entrepreneur

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Olalekan Fakoyejo

Fakoyejo Olalekan is a certified media practitione...

A specialised palliative will be provided for Women-owned medium and small businesses (MSMEs). The palliative is to support women-owned businesses that have suffered financial loss due to the COVID-19 pandemic and the lockdown measures that prevented their businesses from operating for months.

The palliative will be disbursed in response to suggestions from a National Survey on the impact of COVID-19 on women-owned businesses in Nigeria. The survey - which was conducted by NACCIMA and SME.NG - was recently launched virtually. While speaking a out the purpose of the survey, the Minister of Women Affairs, Pauline Tallen, in Abuja, said it captures trends and patterns related to the losses of the businesses.

Organisations Need To Do More

Tallen said the survey will guide the government in its decision to provide palliatives for women-owned businesses. Although, the government has already began to assist poor women in 17 states through the ongoing UN Women Assisted Palliative Distribution Project. She told policymakers, development partners, and donor agencies to implement recommendations from the survey to assist female entrepreneurs during and after COVID-19.

“We are all currently experiencing the effects, which have crippled the supply chain of businesses, with dire consequences on MSMEs, where the majority of women’s owned businesses are situated,” Tallen said.

"The Ministry is engaging with States, relevant government institutions, NGOs, business groups, PWDs cooperative societies, elderly cooperative groups, and women-focused groups to achieve this." Tallen said, adding that, “I want to encourage our partners to not only stop here but let us together again look at the possibility of conducting a follow-up survey to track the progress of women entrepreneurs recovery."

Loans Available For Women Entrepreneurs In Nigeria

Are you a female entrepreneur in need of financial support to save your small and medium business from the onslaught of Coronavirus? if so, there are several unknown bank loan packages or opportunities at low-interest rates that have been designed specifically for female entrepreneurs that could help you mitigate the coming recession.

As an entrepreneur, you need loan packages or credit sources that are not looking to profit from you but grow your enterprise in a business environment that is typically hostile to small and medium businesses. That's why AllNews collated some women-oriented loan packages of banks that might be alien to many female entrepreneurs. Click this link to know more.

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