L-R: Akporee Idenedo, Divisional Head, Commercial Banking, Sterling Bank; Ezinne Nwokafor, Head, OneWoman Initiative, Sterling Bank; Thelma Luke Nwoye, Group Head, Business Finance, Sterling Bank; ‘Solape Akinpelu, CEO/Founder , HerVest; Edward Ogunmekan, Chief Growth Officer, Sterling Bank at the OneWoman Gender Lens Breakfast Dialogue held at The Wheatbaker Hotel, Ikoyi recently.
By Peace Udugba -The daily torch media
Sterling Bank, through its women-focused initiative, OneWoman, has reinforced its commitment to advancing female entrepreneurship by convening a high-level dialogue on inclusive financing for women-led businesses.
The event, themed “Funding Her Future Breakfast Dialogue,” brought together women entrepreneurs, development finance institutions, ecosystem leaders, and key business stakeholders in Lagos for a strategic conversation on unlocking more inclusive and effective financing pathways in Nigeria.
The dialogue went beyond discussions on access to capital, focusing instead on building holistic support systems for women entrepreneurs. Participants explored how financing, business readiness, ecosystem support, and institutional partnerships can collectively drive long-term growth and resilience.
Speaking at the event, the Managing Director and Chief Executive Officer of Sterling Bank, Abubakar Suleiman, said the gathering was designed to translate shared intentions into measurable action.
“Today is about going further. It is about turning shared belief into shared action,” he said.
In his welcome remarks, delivered on his behalf by the Chief Growth Officer, Edward Ogunmekan, Suleiman described the dialogue as a convergence of finance, enterprise, inclusion, and sustainable economic growth.
“We are honoured to host such a distinguished gathering of partners, investors, women entrepreneurs, and business leaders, all united by one critical question: how do we expand access to meaningful finance for women-led businesses in a way that is scalable, sustainable, and commercially viable?” he stated.
He noted that the initiative reflects Sterling Bank’s long-standing belief that prosperity is built by supporting people, ideas, and sectors with strong potential. This philosophy, he explained, led to the creation of the OneWoman initiative, which is anchored on three pillars—capital, capacity, and community.
While acknowledging the importance of access to finance, he stressed that it is only one part of the equation.
“Women-led businesses need the right support systems, networks, and enabling environment to grow with confidence and scale sustainably,” he added.
The event featured two panel sessions with representatives from funding institutions, women-focused organisations, entrepreneurs, and ecosystem partners. These sessions offered practical insights into financing opportunities while examining broader support structures necessary for sustainable enterprise development.
Also speaking, the Head of the OneWoman Initiative, Ezinne Nwokafor, highlighted the urgency of addressing the financing gap facing women in Nigeria.
She noted that a significant proportion of Nigerian women remain excluded from formal credit systems, with only a small percentage accessing structured financing. Despite improvements in financial inclusion, systemic barriers continue to limit women’s ability to secure funding.
According to her, women account for a substantial share of micro, small, and medium enterprises (MSMEs) and contribute significantly to the economy, yet face an estimated $42 billion annual financing gap, citing data from the International Finance Corporation.
She further noted that more than half of women-led businesses identify access to finance as a major constraint, with loan rejection rates significantly higher for women than for men—largely due to structural challenges such as limited asset ownership, social norms, and gaps in financial visibility.
Despite these barriers, Nwokafor emphasised the scale of opportunity.
“Sterling’s OneWoman initiative is positioned to bridge this gap by combining financial solutions, mentorship, capacity building, and community support for women at different stages of their entrepreneurial journey,” she said.
She revealed that in 2025 alone, the initiative disbursed ₦43.9 billion in loans to 2,450 female entrepreneurs, trained over 6,000 women, and supported approximately 380,000 women across three segments—career professionals, women in business, and young entrants. She added that the initiative aims to disburse ₦500 billion in loans to one million women by 2030.
Also speaking, the Divisional Head of Commercial Banking, Akporee Idenedo, reaffirmed the bank’s commitment to addressing the concerns raised during the dialogue, stressing that skills development and capacity building remain essential to creating a sustainable ecosystem for women entrepreneurs.
The Funding Her Future Breakfast Dialogue forms part of Sterling Bank’s broader strategy to deepen support for women through targeted financing, enterprise development, and community-driven growth.
Through the OneWoman initiative, Sterling Bank continues to build platforms and solutions that empower women to grow sustainable businesses, create jobs, and contribute meaningfully to economic development.
