The Council on Foreign Relations and the McKinsey Global Institute indicated that Nigeria’s gross domestic product could grow by 23% by 2025 if women participated in the economy to the same extent as men.” However, limited access to finance remains a major challenge that prevents women from fully participating in the economy.
Some of the recommendations made to a financial institution in Nigeria to challenge this narrative include: Simplifying and streamlining the loan application process, Provision of single-digit interest rates for loans given to women entrepreneurs, Facilitate capacity building workshops to ensure women entrepreneurs understand how to apply for loans to start or upscale a business.
Exploring how VFD is Choosing To Challenge gender barriers from a marketplace lens, Theresa Ezeh of VFD Group sat with me to share the Group’s philosophy and approach.
Theresa Ezeh (Tessy) is the Managing Director of Everdon Bureau de Change. She holds an MBA from the London School of Business and Finance, a Post Graduate Diploma in Strategic Management from Stratford Academy, United Kingdom, and a B.Sc. in Management Information System, from Covenant University, Nigeria. Before becoming the Managing Director of Everdon BDC, Tessie was Head of the VFD Group Treasury Unit.