Global leaders advocate support for women-led businesses
There is a clarion call aimed at galvanising support for women-led enterprises across the globe. This was the kernel of discussion at the just concluded 70th Session of the United
There is a clarion call aimed at galvanising support for women-led enterprises across the globe.
This was the kernel of discussion at the just concluded 70th Session of the United Nations Commission on the Status of Women (CSW 70), where global stakeholders gathered in New York for an important discussion on promoting women-owned businesses in Nigeria.
The side event, organised by Women Rising International, the Centre for Gender Economics in Africa (CGE Africa), and the New Nigeria Foundation, went beyond symbolic promises to explore what is really needed to empower women economically.
With participants from Nigeria, the United States, Canada, South Africa, Kenya, and the Democratic Republic of the Congo, the event showcased a growing global consensus: women's economic empowerment cannot be achieved through fragmented interventions—it requires systemic transformation.
Led by Dr. Anna Madziga, the Country Representative of Women Rising International in Nigeria, the session highlighted women-owned businesses as key to inclusive growth, poverty reduction, and sustainable development. However, despite their significance, women entrepreneurs still face structural barriers such as limited access to finance, restrictive policies, unpaid care responsibilities, and unequal market participation.
The discussion covered three key themes: policy design, access to finance, and mentorship ecosystems.
Elizabeth Young, CEO of Women Rising International, started the panel by questioning why policies meant to support women often don't produce the expected results.
She said that many policies are out of touch with women's real-life experiences, especially those working in informal sectors. Overly complicated systems, poor communication, and failure to include care responsibilities keep their efforts from being effective.
She urged for policies that are built to be inclusive—simpler, more accessible, and based on the everyday realities of women entrepreneurs.
Uchenna Idoko, the Executive Director of the Center for Gender Economics in Africa, challenged traditional ideas about financial inclusion.
She emphasised that access to finance isn't just about loans but also about power, control, and systemic fairness. For many women, financial exclusion begins with structural inequalities like not owning assets and restrictive inheritance laws. Even when financial products are available, they often don't reflect women's real situations.
“A loan a woman cannot control or safely repay is not access; it is exclusion,” she said, calling for gender-sensitive financial systems that are flexible, inclusive, and considerate of different contexts.
The conversation then shifted to the importance of mentorship and leadership pathways. Uju Obiora, Deputy Director of Programmes at the New Nigeria Foundation, pointed out that while many women start businesses with resilience, scaling up requires access to networks, knowledge, and ongoing support.
She highlighted the importance of structured mentorship, peer learning, and visible role models in helping women navigate growth paths.
Read Also: AfDB approves $200m loan to boost Nigeria’s digital backbone, jobs
Using practical examples, she showed that when women gain access to opportunities—even in male-dominated sectors—they excel and challenge existing possibilities for others.
The audience engagement segment reinforced these insights, with participants advocating for co-created policies, inclusive financial tools, and localised mentorship ecosystems.
The discussions highlighted a shared understanding that women's economic empowerment should be viewed as a core economic priority rather than a secondary social issue.
As the session ended, one message was clear: advancing women-owned businesses requires more than good intentions; it calls for intentional action, institutional accountability, and systems built around women.
In a world facing economic uncertainty and climate challenges, investing in women-owned enterprises is not just about fairness; it's a strategic necessity. Because when women succeed, economies grow, and societies evolve.
