ECOWAS/ECOBANK Empower 400 Women Traders in Nigeria

Michael Olugbode in Abuja

The Economic Community of West African States (ECOWAS) has begun an empowerment programme for women traders in Nigeria as part of its efforts towards bridging the gap of the female gender to access finance towards building their businesses in the country.

The programme which is in association with the ECOBANK PLC is to train 400 women traders in its pilot scheme for six months on rudimentary business skills and financing, with an eye to extend it to more women in Nigeria and other 15 ECOWAS member countries.

It also includes mentorship of the women in viable business.

Speaking at the opening ceremony of the empowerment programme, ECOWAS Commissioner for Economic Affairs and Agriculture, Mrs. Massandjé Toure-Litse, stressed the imperative of empowering women, insisting that it is essential for the country’s economic development and growth.

She pointed out that empowering the women is one sure way of ending poverty and building peace in the sub-region.

She said: “So it’s a pleasure today to launch this important programme. In the first tranche, we will be training about 300 or 400 women, and we are planning to expand. Our objective is to go larger and bigger, and we will, as I said, expand to other 15 ECOWS countries.

“We are starting as a pilot project and it is a way of implementing  lots of initiatives, targeted at women empowerment.

“It’s a way of building bridges across the West African region in terms of empowerment, preparing them for the gains of the African Continental Free Trade Area.”

The ECOWAS Commissioner stressed the need to build their capacities, saying, “we intend the programme to train them properly in terms of business management, and to be able to participate fully within inter-regional trade or external trade. So, this, like I mentioned, is one of the critical stages in terms of empowering the women.
The commissioner said: “I’m sure you know the role, that women play in terms of nation-building, in terms of peace-building, in terms of economic development. This is just a part of it.”

On her part, Mrs. Nonye Ayeni, Executive Director/CEO. Nigeria Export Promotion Council (NEPC), challenged the women traders to be ambitious in their outlook.

Ayeni said they must dream big and stop being docile as they have a role to play in shaping the country’s prosperity, while commending the programme for aligning with President Bola Tinubu renewed hope agenda.

She said: “I think, this event is another laudable initiative by ECOWAS Commission, particularly to empower women and build their capacity, not just to be socially empowered, but economically empowered.

“And I think it aligns with our own mandate and in the council in recognition of this, we are working with women to build their capacity and this will lead to sustainable and inclusive economic development where we empower women to be the best they can be.

“Like you heard me say that if you empower a woman, you empower the whole community and the best man for the job is a woman because women are resilient, dogged and they can multiply.

“And as you’re training them, empowering them, you are empowering the whole nation. So, this aligns with even what the government is doing in terms of the renewal of agenda of Mr. President.

“We ‘re building their capacity in terms of skills, training them on different areas to be able to develop, scale up their businesses, digitalize their business because digital trade is transformative.“Also open them up to the market and let them to be able to compete with the other gender, the male gender, and also be able to help their families themselves and be part of an empowered society.”

Divisional Head FCT & North ECOBANK, Mr. Tunde Daudu, said the bank is excited because it believes in empowering the womenfolk.

Daudu said apart from providing loans, the bank also provides training and mentorship, adding that: “After six months, we will hold them, ensure that their business grows from mini to small, small to medium, medium to large.”

The Director of Private Sector Development at the ECOWAS Commission, Dr. Tony Elumelu said the programme is critical and one in the right direction

His words: “Women in trade represent a good opportunity to tackle the unemployability of youth and women in Nigeria, but also within ECOWAS region. And we believe that a woman who is empowered is a family that will thrive. And we believe also that women can change and transform an economy.

“So, we have decided to embark on this six-month program, first in Nigeria, and eventually in the near future we will expand this programme to women doing trade. We have a trade strategy for women in the ECOWAS Commission, and we encourage cross-border trade. And we know that the majority of those traders are women.

“And this is critical. What I mean by critical is that we need to build someone’s capacity to be able to meet with the enormous challenges that we have in terms of women empowerment.

“So, this is a step in the right direction. So, the program is being launched today, and we understand this is a six-month program, training program. Can you throw more light on that? Yes, like I mentioned, in terms of training, it has different dimensions, and training is continuous.

“Beyond the six months, there’s also a need for mentorship, guidance. So, there are different models that will be felt in terms of this empowerment. And like I mentioned before, what I try to say in my remarks is that in terms of training, capacity-building, it’s an indefinite thing.

Speaking on the selection process, the Director, Trade, ECOWAS Commission, Kola Sofola, said critical stakeholders were involved in the selection process.

Sofola also said each country has been given free hands to select their participants.

In the case of Nigeria, he said they also worked with associations.

He however said the commission prioritised as it cannot take everybody.

He further explained: “So, we want to ensure that these businesses, number one, are businesses that have registered, businesses that are ready to take up market opportunities, businesses that are willing and interested to expand.

“So, it is a combination of working with partners to identify the right people who will be able to take advantage of this opportunity.

“Do they come from all over the country? So, primarily, these are largely based initially within the proximity of Abuja.”