The NNEW Vice President on finance, digital transformation and why investing in women entrepreneurs is a strategic economic imperative
IWD 2026 Special | BizWatch Nigeria
Women entrepreneurs in Nigeria are building businesses, creating jobs and driving growth – yet access to finance, markets and capacity-building resources remains deeply uneven, leaving many female-owned enterprises struggling to scale.
As the world marks International Women’s Day, the case for stronger investment in women-led enterprises has never been more urgent. Despite the measurable contribution of women entrepreneurs to job creation, innovation and economic growth, barriers in finance access, market reach and institutional support persist.
In this interview, Ibe Wada of BizWatch Nigeria speaks with Bolanle Edwards, Vice President of NECA’s Network of Entrepreneurial Women (NNEW) and Chief Executive Officer of MaryEdwards Soft Furnishings, on the realities confronting women entrepreneurs and what it will take in policy, institutions and mindset – to unlock their economic potential.
The Interview
How does NNEW practically support women entrepreneurs in areas such as business development, mentorship, access to markets and capacity building?
NNEW was established in 2005 under the Nigeria Employers’ Consultative Association to foster entrepreneurship among women and create opportunities for sustainable business growth.
We provide platforms where women entrepreneurs can discuss business challenges, exchange ideas and build strategic partnerships. Through structured mentoring, modelling and leadership development initiatives, we support women at different stages of their entrepreneurial journeys.
NNEW also facilitates local and international trade opportunities for members through exhibitions, trade missions and networking events. In addition, we engage in advocacy and group representation to influence economic policies that affect women-led businesses.
Most importantly, we help aspiring entrepreneurs transform their ideas into viable businesses by equipping them with the managerial skills and knowledge required to succeed in today’s competitive economy.
Beyond your leadership role in NNEW, you are also an entrepreneur. Could you walk us through your journey into business and the experiences that shaped your decision to venture into entrepreneurship?
My entrepreneurial journey officially began in 2005 after I left my role at Shell Petroleum Development Company.
Interior design and space management had always been a passion for me. After leaving my corporate job, I began researching extensively into soft and hard furnishings while also taking on pro bono projects for friends and family. Those early projects eventually led to referrals, and gradually the business grew.
Even as a student at the University of Lagos, I had always been business-minded. I sold clothes, hair products and home accessories from my room on campus. Entrepreneurship was almost second nature to me.
My parents were also strong influences. After retiring from banking, my mother ventured into business, while my father and older sister were equally entrepreneurial. Being around that environment naturally shaped my mindset.
It was not an easy journey, but persistence and passion kept me going.
You run an interior design business, a field that requires creativity, innovation and strong business acumen. What inspired you to establish this business, and what opportunities or challenges did you identify within the industry?
My inspiration came from a deep passion for creating functional and emotionally meaningful spaces. I have always enjoyed organising environments and transforming them into places that reflect the personality and lifestyle of the people who live or work there.
At the time I started, interior design was not as popular or structured as it is today, so I had to learn the fundamentals by working under experienced professionals.
One of the key opportunities I identified early on was the growing demand for personalised spaces. More people want homes and offices that reflect their unique identities and lifestyles.
However, the early challenges were significant. Building a portfolio and gaining recognition in the industry was difficult at the beginning. Like many creatives, managing the business side — including accounting, marketing and operations — also required discipline and continuous learning.
From your personal experience running a business, what lessons have you learned that now influence the way you support and mentor other women entrepreneurs through NNEW?
One of the biggest lessons I learned is that businesses must evolve with the changing economic ecosystem. The way we did business years ago is no longer sustainable in today’s digital and globalised environment.
At NNEW, we mentor younger entrepreneurs through initiatives such as the RUBY platform, which focuses on women between the ages of 25 and 45. We also run programmes like Start Your Business (SYB), the NNEW–FCMB SheVentures mentorship programme, and Women in Digital Business (WIDB).
These programmes are certified by institutions such as the International Labour Organisation, Microsoft and GIZ, ensuring participants gain globally relevant skills.
This year’s International Women’s Day highlights the theme “Give to Gain.” From your experience, what are the most persistent structural and socio-economic barriers Nigerian women face when building sustainable businesses?
Access to finance remains the most critical challenge.
Research shows that about 80 per cent of women-owned enterprises in Nigeria are funded through personal savings, largely because women face significant barriers in accessing external financing.
However, the narrative is gradually changing. Financial institutions and initiatives such as the NNEW cooperative, which provides loans at five per cent interest, as well as institutions like Bank of Industry, are increasingly creating funding opportunities tailored to women entrepreneurs.
What structural reforms should government and private institutions prioritise to change this narrative?
One major reform required in the financial sector is the adoption of cash flow-based lending.
Traditional lending systems rely heavily on collateral such as land titles, which many women do not possess. Instead, financial institutions should evaluate business potential based on turnover, cash flow and alternative data.
In addition, digitalisation and fintech adoption can significantly improve market access for women entrepreneurs. Expanding access to digital banking, mobile payments and e-commerce platforms can help women overcome geographical limitations and reach broader markets.
Government and institutions should also invest more in gender-sensitive mentorship and training programmes that build financial literacy, managerial skills and business networks.
With digital technology reshaping the global business environment, how prepared are Nigerian women entrepreneurs to leverage digital tools and innovation?
Many Nigerian women entrepreneurs are already using digital tools, particularly social media platforms such as WhatsApp, Facebook, LinkedIn, Instagram and TikTok for marketing.
However, overall preparedness to scale globally remains moderate. Formal e-commerce adoption is still relatively low, and many women lack the technical skills needed to fully utilise digital opportunities.
There are also concerns around cybersecurity and infrastructure limitations. For example, a significant number of women avoid posting video content online due to safety concerns.
This is why NNEW continues to prioritise digital training programmes that equip women with the skills needed to run fully digitised businesses and even train others.
Looking ahead, what mindset shifts and leadership qualities should young Nigerian women prioritise to succeed in the future economy?
Young Nigerian women must transition from the mindset of job seekers to system builders.
The future economy will be driven by artificial intelligence, green innovation and the gig economy, which means success will require digital agility, creativity and strong leadership skills.
Women must focus on value creation rather than simply earning income. They must also develop resilience, emotional intelligence and strategic thinking.
Most importantly, they must adopt a long-term perspective and build reputational capital — credibility, authority and influence that grows over time.
Finally, as the world commemorates International Women’s Day, what message would you like to share with policymakers and society?
My message is simple but urgent: investing in women is investing in a better world for everyone.
When women succeed economically, families prosper, communities grow stronger and national economies become more resilient. Empowering women entrepreneurs is therefore not just a social responsibility — it is a strategic economic imperative.
Drawing from nearly three decades of professional experience across sectors including oil and gas, fashion and beauty, health and safety, technology and interior design, Bolanle Edwards reflects on her entrepreneurial journey, the role of mentorship and digital transformation in strengthening women-led enterprises, and why deliberate investments in women remain critical to sustainable development.
Edwards founded MaryEdwards Soft Furnishings in 2005 after an early career at Communication Trends Nigeria Limited and the Shell Petroleum Development Company. She holds a Bachelor’s degree in Business Administration and a Master’s degree in Labour Relations from the University of Lagos, alongside a diploma in Interior Design from Alison School of Design in the United Kingdom.
Beyond business, she is the founder of the Strap and Safe Child Foundation, a nonprofit organisation established in 2009 to promote child safety and road-use education. Through partnerships with agencies including the Federal Road Safety Corps, the Ministry of Education and the Lagos State Safety Commission, the initiative has reached more than ten million children, parents and community members across Nigeria.
Within NNEW, Edwards currently serves as Vice President, having previously held several leadership positions including Financial Secretary of the NNEW Cooperative, Head of the Furniture and Interior Design Sector, and Chairman of the 2020 Summit Planning Committee.
