The Bank of Industry (BOI) has disbursed $6.02 million out of its $10 million investment commitment to the Alitheia Fund. The Alitheia Fund, a pioneering $100 million gender-lens fund, targets investments in women-owned, women-led, or women-serving enterprises across various sectors.
During the BOI International Women’s Day 2024 event themed ‘Inspire Inclusion’, Olasupo Olusi, BOI’s managing director, announced the disbursement. He emphasized the need to transcend conventional norms and embrace diversity, equity, and inclusion principles fully.
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Highlighting BOI’s broader support for women-owned businesses, Olusi noted the bank’s role as the local execution partner for the Islamic Development Bank’s Business Resilience Assistance for Value-Adding Services program in Nigeria. This initiative, worth $14.27 million, has already benefited 551 beneficiaries with a disbursement of N5.9 billion as of February 2024.
Furthermore, BOI is collaborating with the African Development Bank on the AFAWA initiative, aiming to bridge the $42 billion financing gap faced by women in Africa. Olusi reiterated BOI’s commitment to empowering female entrepreneurs, citing specialized funding and business support initiatives tailored for women.
This initiative aligns with President Bola Ahmed Tinubu’s dedication to social inclusion, women’s empowerment, and economic support for disadvantaged women and mothers, reflecting a broader national commitment to advancing gender equality.
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