The Fund is a N1.0 billion fund to support for the fashion value chain, including but not limited to garments, women’s shoes, handbags and jewelry/accessories in the first instance to be expanded in future.
The fashion industry is fast growing in Nigeria and it accounts for 0.47 per cent (N380 billion) of Nigeria’s rebased Gross Domestic Product (GDP). For instance, the quality of African style garments is competing with international standards, however, one of the major challenges faced in the industry is funding.
Supporting women in business is akin to supporting half of the population and this will impact positively on poverty eradication. This Fund aims to provide the needed financing required to make a bigger impact in the sector.
Limited Liability Companies and Enterprises promoted by women or those that have a majority of their shareholding (50% and above) held by women will access the Fund.
The fund shall be used to upscale gender promoted businesses in the Fashion Industry.
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