The United Kingdom has announced a new financial package of £74 million (41.6 billion Naira) to help women-owned businesses and small and medium enterprises (SMEs) access finance across Nigeria. These businesses are reportedly facing unnecessary barriers while scaling up their operations. The package will be delivered via a new financing facility by the British International Investment (BII), the development finance institution of the UK government, and routed through the First Bank of Nigeria. UK Minister for Africa Vicky Ford said that when women entrepreneurs and small businesses are economically empowered, their community benefits.
