Business
IWD: DBN Disburses N272b To Women Businesses
The Development Bank of Nigeria (DBN) has disbursed more than N272 billion to over 518,170 women-owned businesses, making up 74 percent of its total beneficiaries.
Managing Director of the bank, Dr. Tony Okpanachi, disclosed this in Abuja recently during an event marking this year’s International Women’s Day (IWD).
Dr. Okpanachi explained that this level of financial support reflects DBN’s strong dedication to empowering female entrepreneurs across different industries.
He stated that the bank’s targeted financing has helped women to grow their businesses in sectors such as fashion, agribusiness, technology, trade, healthcare, and renewable energy. By supporting women in these areas, DBN ensures that they play a significant role in the nation’s economic development.
He also pointed out that providing access to finance alone is not enough to help women entrepreneurs succeed, adding that they also need strategic partnerships, policy support, mentorship, and market access to compete effectively in today’s business environment.
To address these challenges, he said DBN has launched several initiatives, including the Women Entrepreneurs Finance Initiative (WE-FI) Code.
This programme, in collaboration with the Central Bank of Nigeria (CBN) and the Bank of Industry (BOI), aims to expand access to finance, enhance business skills, and create networking opportunities for women entrepreneurs.
On guarantees, a report released on Thursday showed that total loans guaranteed by DBN stand at N43.3 billion.
The report also noted that 16 Participating Financial Institutions (PFIs) have been involved in the loan disbursement process, reaching 45,178 micro, small, and medium enterprises (MSMEs).
Out of the 74,678 MSMEs supported, 60.6 percent were owned by women.
Dr. Okpanachi assured of DBN’s focus on financing women-led businesses, explaining that the bank ensures that a significant portion of its lending goes to women entrepreneurs, as their participation is crucial for economic growth.
He said DBN plans to intensify efforts to empower even more women, helping them expand their businesses and contribute further to national development.
He outlined some of the measures taken to achieve this, starting with dedicated funding lines for women-owned businesses through DBN’s partner financial institutions.
These financial institutions can only access these funds if they are directed toward female entrepreneurs.
Beyond funding, Dr. Okpanachi stressed the importance of capacity building. He explained that moving women from micro-businesses to small enterprises and eventually to medium and large businesses requires training and skills development.
“Over the past four years, DBN has provided specialized training programs for women-owned businesses, and the bank is now planning to expand these efforts to reach more women and support their business growth”, he said.
DBN, he continued, remains committed to the WE-FI Code, in partnership with the CBN and BOI, to ensure that more financing is directed toward women entrepreneurs.
Speaking about the gender-based report, Dr. Okpanachi noted that the report provides a detailed record of DBN’s efforts in gender finance since its inception.
He stated that the report not only highlights the level of investment made in supporting women entrepreneurs but also examines the impact of these investments.
He noted that the focus is not just on giving financial support, but of on measuring how it transforms businesses and contributes to the economy.
Dr. Okpanachi expressed confidence that DBN’s continued efforts in financing and capacity building would create more opportunities for women entrepreneurs, helping them scale their businesses and strengthening their role in Nigeria’s economic development.