Eyowo, a fast-growing digital bank, has partnered with Femme Africa, a community of female creatives, to launch an empowerment drive that targets young and upcoming women in business. Eyowo will provide a total of N1 million in grants to be spread across five female entrepreneurs as part of the empowerment drive.
The collaboration is part of deliberate and coordinated efforts made by Eyowo to make financial growth a reality for Nigerians and foster better communities. Through the grants, the beneficiaries can grow their business and take control of their financial health.
Commenting on the bank’s intentions for women and businesses, Oreoluwa Sofola, Head of Brand at Eyowo, stated, “Women-owned businesses account for approximately 40% of the over 41 million small and medium-sized enterprises in Nigeria today. Despite their significant economic contribution, women and their businesses face significant funding, productivity, and growth challenges. We at Eyowo are aware of these and other issues that women face.
Eyowo And Femme Africa Announce N1 Million Grant For Women Entrepreneurs
This is why we are committed to providing support both directly and through partnerships like this one with Femme Africa.”
The business categories eligible for the grants include fashion, beauty and creative/entertainment. The grants are also available to young and aspiring female entrepreneurs in any industry, who are yet to establish a business but have a business idea or plan.
Addressing the partnership, Founder Femme Africa, Ayomide Dokunmu said, “Femme Africa was created with the intent to educate, empower and entertain women. We’ve achieved this in just four years through a variety of verticals and projects. However, there is still much to be done, which is why we are thrilled to be partnering with Eyowo to award grants to five exceptional women in our community. Thank you to Eyowo for being committed to supporting women and our growth.”
Applications for the grant open on Monday, July 25 and will close on Sunday, July 31, 2022. Winners will be announced and contacted for a grant awarding event in August.
Eyowo provides simple, modern and reliable financial services to anyone with a phone number as well as empowers users with financial literacy to help them develop a better relationship with their money.
Femme Africa is a women-led organization that seeks to provide a collective voice for women and break down gender-based barriers in Nigeria’s male-dominated creative industry.