Grant Thornton Nigeria, a leading professional services firm feted over 50 indigenous women and micro-enterprise business owners in Kpaduma village, Asokoro extension to a financial literacy & management lecture and workshop titled breaking the bias of women participation in MSMEs in Nigeria, in commemoration of the International Women Day (IWD) 2022.
The women were taught financial management skills required to succeed in the business environment they operate in. They were also exposed to essential financial literacy nuggets which prior to the lecture were alien to them and deprived the entrepreneurs of opportunities to funds from private and public organizations and programs.
Speaking at the event, Dr. Ngozi Ogwo, managing partner/CEO said that the firm embarks on measurable and sustainable programs that impact their immediate & global communities.
“Our CSR activities in Grant Thornton Nigeria are executed in the three locations where we operate, and we ensure our corporate presence and impact is felt across all socio-economic levels. For this program, our Abuja office which is situated in Asokoro investigated and revealed that lots of these indigenous women & microenterprise entrepreneurs lacked financial management skills and knowledge that will enable them to grow their business and succeed” she said.
Mrs. Florence John Sinnap, leader of the women group acknowledged the identified challenges and was delighted at the content and practical delivery of the training, which she noted is sustainable and are lifelong survival skills that would enable them to manage their business operations properly.
“Our women were ignorant of the basic financial knowledge and lacked skills that would grow their businesses until this lecture, and the workshop aspect was truly practical that its impact was instant” she said.
Many women entrepreneurs in Nigeria face a lot of challenges which include discriminatory practices, low productivity, limited entrepreneurship, and leadership skills, lack of access to resources, inadequate training, inadequate management experience, lack of information, lack of strategies to develop financial literacy, family pressure. As a result, women entrepreneurs in Nigeria experience business failure, early exit, stagnant growth, and low return on investment.