Lagos State government has signed a Memorandum of Understanding (MOU) with African Women Innovation and Entrepreneurship Forum(AWIEF) to facilitate the process of ensuring that women owned businesses have access to $300 million to boost their businesses.
The state’s commissioner for Economic Planning and Budget, Mr. Akinyemi Ashade who made this disclosure at a press conference held in Lagos said the $300 million is a women’s Economic Empowerment Fund set aside by African Development Bank (AFDB) for empowering African women.
“Lagos Women Economic Empowerment Initiative (LAGOSWEEIN) is an initiative designed for the women of Lagos State for the purpose of ensuring entrepreneurial capacity building, business skills upgrade and preparedness as well as to facilitate access to finance and other services within the framework of affirmative finance action.
“Today’s signing of partnership agreement is a milestone between Lagos State and AWIEF and all women in the state. This partnership is reaching a major step in line with Governor Ambode’s agenda for women in the state, towards their strategic economic empowerment,” he said.
Ashade further stressed that the other partnership highlights include training, business coaching and technology transfer through a detailed standard operating procedure.
He assured that the state government will honour its own part of the agreement which is to pay as and when due invoices presented by AWIEF based on mutually agreed budget.
The commissioner noted that exploring the collaborative opportunity in the state to derive maximum benefits for women-owned businesses is indeed a great opportunity for the entire state as it guarantees business and social development, financial freedom for Lagos women among many others.
Also speaking, the founder of AWIEF, Irene Ochem lauded the state government for partnering with her organisation in empowering women.
