As part of the ECOWAS Caravan 2025 initiative to empower women in cross-border trade, the Lagos State Government has launched a N500 billion fund for Micro, Small, and Medium Enterprises (MSMEs), specifically targeting women in the informal sector.
The fund, matched by the Bank of Industry to total N1 trillion, is non-collateralised, includes a six-month moratorium, and features a zero-interest window for cooperative-backed businesses.
Commissioner Folashade Ambrose-Medebem emphasized the strategic importance of supporting women along the Lagos–West Africa trade corridor.
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The ECOWAS Caravan 2025, which journeyed through Abidjan, Lomé, and Cotonou before ending in Lagos, highlighted persistent issues such as harassment at borders and limited access to finance.
ECOWAS Commissioner Prof. Fatou Sarr lauded Lagos for its leadership in supporting women traders, stating, "Women are the heart of informal trade... when states empower them, the entire region benefits."
Dr. Chinyere Almona, DG of the Lagos Chamber of Commerce and Industry, urged further investments in local language training and digital platforms to simplify border trade for women entrepreneurs across the region.
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